**Greysteel Facilitates $9M Sale of Laburnum Park Shopping Center in Richmond**
Greysteel has successfully completed the $9 million sale of Laburnum Park Shopping Center, located in Richmond, Virginia.
Situated at 4320, 4356, and 4396 S Laburnum Avenue, the 61,060-square-foot property consists of two in-line retail buildings, a standalone retail pad, and a bank pad. The shopping center drew strong interest from investors, ultimately receiving 10 offers. Greysteel’s Ben Wilson represented the private seller and also secured the buyer, The Criterion Fund.
“This transaction underscores the growing demand for retail assets in secondary markets, where investors are capitalizing on opportunities to unlock value,” said Wilson. “As evidenced by the number of offers received, properties like Laburnum Park Shopping Center offer investors significant upside potential through rent growth, strategic capital improvements, and operational efficiencies.”
The Criterion Fund, a national investment firm based in Oklahoma, was drawn to the center’s tenant mix of value-oriented, service-driven, and essential retailers, along with its strategic location.
