Hackney Real Estate Partners Sells Grocery-Anchored Shopping Center On West Broad Street For $18.4M
7502 West Broad Street
$18,400,000
$83/SF
Building Size
219,972 SF
Asset Type
Retail
Closing
Sep 19, 2023
AI
Merchants Walk, a grocery-anchored shopping center spanning 219,972 square feet, has been sold in Richmond, Virginia. The property is located on West Broad Street and was sold for a total of $18.4 million.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $18,400,000
- Address: 7502 West Broad Street, Richmond, VA
- Market: Richmond, VA
- Square Footage: 219,972
Cushman & Wakefield, represented by Catharine Spangler and John Owendoff, played a crucial role in facilitating the sale of Merchants Walk. Hackney Real Estate Partners served as the seller in this transaction. With their expertise and experience, they successfully closed the deal at a price of $18.4 million.
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
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93