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Rosenthal Properties, FarmViewVentures & HIG Realty Partners Acquire Retail Property In Midlothian, Richmond & Henrico, VA For $110M

Property Image
SOLD
$110,000,000
Chase Tagen
Dustin Stolly
Jordan (Jordy) Roeschlaub
+ 1

Virginia

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Retail592,000 SF
Sold 06/02/2023
the dealplayerscompscontact
Property Image
SOLD

Rosenthal Properties, FarmViewVentures & HIG Realty Partners Acquire Retail Property In Midlothian, Richmond & Henrico, VA For $110M

12501 Stone Village Way Midlothian, Virginia 23113, Usa

See Similar Deals
Retail592,000 SF
Sold 06/02/2023
Chase Tagen
Dustin Stolly
Jordan (Jordy) Roeschlaub
+ 1
the dealplayerscompscontact
Contact now

Summary

VIRGINIA
Asset Type:Retail
Price Per Square Foot:$185
Total Square Footage:592,000 SF
Transaction Type:Sale

Rosenthal Properties, FarmViewVentures, and HIG Realty Partners have acquired a retail property located at 12501-12715 Stone Village Way, 1502-1532 North Parham Road, 1503-1567 North Parham Road, and 8943-9097 Staples Mill Road in Midlothian, Richmond, and Henrico, VA. The property spans a total area of 592,000 square feet. The transaction closed on June 2, 2023, with a sale price of $110,000,000.

Summary of Transaction Details

  • Property Type: Retail
  • Transaction Amount: $110,000,000
  • Address: 12501-12715 Stone Village Way; 1502-1532 North Parham Road; 1503-1567 North Parham Road & 8943-9097 Staples Mill Road
  • Market: Midlothian, Richmond & Henrico, VA
  • Buyer: Rosenthal Properties, FarmViewVentures & HIG Realty Partners
  • Brokers: Jordan Roeschlaub, Dustin Stolly, Chase Tagen & Hudson Barineau - Newmark

The acquisition was facilitated by Jordan Roeschlaub, Dustin Stolly, Chase Tagen, and Hudson Barineau of Newmark, who represented the buyer group in the transaction.

Players

Dustin Stolly
Walker & Dunlop
Dustin Stolly
264 deals$49.1B volume
BROKER
Chase Tagen
Newmark
Chase Tagen
20 deals$8.7B volume
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
321 deals$96.2B volume
BROKER
Hudson Barineau
Newmark
Hudson Barineau
1 deal$110M volume(212) 916-2915
BROKER
RP
Rosenthal Properties
BUYER

Details

SOLD
IMAGE: Jordan Roeschlaub, Dustin Stolly, Chase Tagen & Hudson Barineau DATE: 06/02/2023 ADDRESS: 12501-12715 Stone Village Way; 1502-1532 North Parham Road; 1503- 1567 North Parham Road & 8943-9097 Staples Mill Road MARKET: Midlothian, Richmond & Henrico, VA ASSET TYPE: Retail ~ SF: 592,000 BUYER: Rosenthal Properties, FarmViewVentures & HIG Realty Partners BROKERS: Jordan Roeschlaub, Dustin Stolly, Chase Tagen & Hudson Barineau - Newmark SALE PRICE: $110,000,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,866,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43