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10791 West Broad Street

Phil Slovitt Of Northpond Partners Buys Parkside Marketplace From Stavins & Axelrod
SOLDRetail

Phil Slovitt Of Northpond Partners Buys Parkside Marketplace From Stavins & Axelrod

10791 West Broad Street

$17,350,000

$327/SF

Building Size

52,948 SF

Asset Type

Retail

Closing

Feb 13, 2024

AI

The sale of Parkside Marketplace, a 52,948-square-foot retail center located at 10791 West Broad Street in Henrico, VA, was successfully facilitated for $17,350,000. The transaction was handled by Cushman & Wakefield | Thalhimer on behalf of the sellers, Stavins & Axelrod. The property was purchased by Northpond Partners, represented by Phil Slovitt.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $17,350,000
  • Address: 10791 West Broad Street
  • Market: Henrico, VA
  • Square Footage: 52,948
  • Buyer: Phil Slovitt - Northpond Partners
  • Seller: Stavins & Axelrod
  • Broker: Catharine Spangler - Cushman & Wakefield

Catharine Spangler from Cushman & Wakefield played a pivotal role in the transaction, assisting in the $17.35 million sale of Parkside Marketplace. The successful deal was a collaboration between key individuals and companies, highlighting the expertise and professionalism involved in the real estate industry.

Players

Catharine Spangler

Cushman & Wakefield

Broker

$220M

vol

20 deals

Broker

Glen Allen Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.91%

Cash-on-Cash

-0.26%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93