An affiliate of Cole Real Estate Investments acquired a 439,740-square-foot shopping center in Richmond, VA, from Forest City Enterprises for $68 million, or about $155 per square foot.
White Oak Village Shopping Center delivered in 2008 at 4423-4591 Laburnum Ave., 1.9 miles away from Richmond’s business district. The retail building was approximately 95 percent occupied at time of the sale. The center is anchored by JCPenny, PetSmart and Michael’s, according to CoStar information.
Bill Kent, Gary Lawrence and PK Kamath of CBRE represented the seller. The buyer did not have representation.
Please see CoStar COMPS #2547869 for more information on this transaction.