**JRE Partners and Anastacia AG Acquire Chesterfield Towne Center for $80 Million**
A joint venture between New York-based investment firm JRE Partners and Swiss company Anastacia AG has acquired Chesterfield Towne Center, a one-million-square-foot retail property located in Richmond, Virginia. The transaction was valued at $80 million.
Pacific Retail Capital Partners (PRCP) has been selected to manage the property. As part of its role, PRCP will oversee operations, leasing, master planning, and provide design services. The firm also plans to shape the long-term strategic direction of the property, which could include potential redevelopment initiatives.
Strategically located at the intersection of Midlothian Turnpike and Huguenot Road, Chesterfield Towne Center is the largest enclosed mall in the Richmond region. The center is home to major anchor tenants, including Macy’s, JCPenney, At Home, and T.J. Maxx/HomeGoods, in addition to more than 130 national retailers and dining establishments.
“We collectively feel there is massive upside potential at this strategically important asset that can be realized through leasing enhancements, operational improvements and repositioning opportunities – all services that PRCP specializes in and excels at,” said Steve Plenge, CEO and Founder of PRCP.
