RICHMOND, VA (October 2016) – S.L. Nusbaum Realty Co. is pleased to announce the sale of Arch Village Shopping Center, located at 9131-9219 Midlothian Turnpike in Richmond, VA for $4,850,000.
Comprised of two separate parcels under the ownership of KBAS, LLC and Harding Property 1, the center totals approximately 55,000 SF on just over 5 acres, which includes a 30,000+ SF big box, currently occupied by American Freight, and the remaining being small shop space.
The properties were sold to Arch Village Management Realty and Midlothian Management Realty. The new ownership intends to merge the properties back into one parcel for the purposes of adding an outparcel to the site.
Nathan Shor and Reid Cardon of S.L. Nusbaum Realty Co. represented the buyer and seller on the big box component and the buyer on the small shop space. Joe Harding of Harding & Associates represented the seller of the small shop space.
With over 115 years of expertise in the real estate industry, S.L. Nusbaum Realty Co. manages, develops and provides sales and leasing services for shopping centers, apartment communities, office, industrial and investment properties throughout the Mid-Atlantic and Southeast.