J.C. Bar Properties Inc Acquires White Oak Village Retail Property From SITE Centers Corp For $63.5M
4501 South Laburnum Avenue & 4591 South Laburnum Avenue
$63,500,000
$79/SF
Building Size
795,210 SF
Asset Type
Retail
Closing
Oct 18, 2024
AI
A venture led by J.C. Bar Properties Inc. has acquired the retail property located at 4501-4591 South Laburnum Avenue in Richmond, VA. This property encompasses a total of 397,605 square feet, with a sale price of $63.5 million, translating to approximately $159.71 per square foot. The asset type involved in this transaction is retail.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $63,500,000
- Buyer: J.C. Bar Properties Inc
- Seller: SITE Centers Corp
- Square Footage: 397,605
- Price Per Square Foot: $159.71
- Market: Richmond, VA
The acquisition was executed between J.C. Bar Properties Inc. and SITE Centers Corp, representing a strategic move in the retail sector. The deal marks a significant addition to J.C. Bar Properties Inc.'s portfolio, demonstrating their active engagement in real estate transactions within the Richmond market.
Players
Henrico Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93