Airport Hotel, LLC Acquires Broad Street Plaza Shopping Center For $9.55M

The Broad Street Plaza Shopping Center, located at 9856-9864 West Broad Street in Glen Allen, VA, has been sold. The retail property, spanning 57,878 square feet, was fully leased and anchored by national craft supplier Michaels and Kid's Empire. The property was recently acquired by Airport Hotel, LLC for a total of $9,550,000, amounting to a price per square foot of $165. The transaction took place on September 12, 2023.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $9,550,000
• Square Footage: 57,878
• Address: 9856-9864 West Broad Street, Glen Allen, VA
• Market: Glen Allen, VA

Cushman & Wakefield | Thalhimer's Capital Markets Group represented Sledd Properties, the seller, in the sale of the Broad Street Plaza Shopping Center. On the buyer's side, Airport Hotel, LLC acquired the property. The brokers involved in this transaction were Catharine Spangler, Connie Jordan Nielsen, and Nicki Jassy, who represented both the buyer and the seller. This successful deal marks an important milestone in the commercial real estate market in Glen Allen, VA.