Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller in the disposition in the sale of Hupps Mill Plaza Shopping Center located at 2219 Wilborn Avenue in South Boston, Virginia. The 173,351 square foot, value-add power center was 77% leased at the time of acquisition and is currently anchored by Belk, Goody’s and regional grocer Shopper’s Value Foods. Hupps Mill Plaza Associates, LLC acquired the asset on July 26, 2017 for $3,900,000 ($22.50/SF).
Sale negotiations were handled by Catharine Spangler of Cushman & Wakefield | Thalhimer’s Richmond, Virginia office, assisted by Joe Kennedy in Thalhimer’s Virginia Beach office. The sale was facilitated through the RealINSIGHT Marketplace auction platform, which launched in Q12017.
About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, VA; and Charleston, Greenville, SC. The company has over 100 broker professionals and employs over 400 associates. Thalhimer represents, on behalf of its clients, a property portfolio of over 53 million leasable square feet, and management of nearly 25 million square feet of commercial property, and over 7,000 multifamily units. In 2016 Thalhimer completed over 1,900 transactions with a transactional volume over $1.4 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, construction management, project management, asset management, and the sale and leasing of office, industrial and retail properties.
To learn more, visit www.thalhimer.com or follow @Thalhimer on Twitter.
Thalhimer’s Capital Markets Group is the region’s leading investment sales team made up of professionals focused solely on capital markets and the sale of income producing properties throughout Virginia. The team is experienced in office, industrial, retail and multi-family dispositions and since 2012 has completed 134 transactions totaling over $2.7 billion and over 31.6 million square feet.
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About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.
