{"id":1004490934,"date":"2020-11-06T04:46:03","date_gmt":"2020-11-06T12:46:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004490934"},"modified":"2020-11-06T04:46:03","modified_gmt":"2020-11-06T12:46:03","slug":"jv-buys-suburban-richmond-shopping-center-for-11m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/","title":{"rendered":"JV Buys Suburban Richmond Shopping Center for $11M"},"content":{"rendered":"<div id=\"attachment_1004490937\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004490937\" data-attachment-id=\"1004490937\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/parc-place\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg\" data-orig-size=\"1029,773\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Parc Place\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg?w=1024\" class=\"wp-image-1004490937 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg 1029w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg?resize=768,577 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/11\/Parc-Place-e1604661063216.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004490937\" class=\"wp-caption-text\"><em>Image via Google Street View<\/em><\/p><\/div>\n<p>A partnership of Auerbach Funds, Elevation Real Estate Group and Beechmont Acquisitions has purchased Parc Place, an 82,968-square-foot retail center in Richmond, Va., for $10.8 million. Colony Capital, a lender that had previously foreclosed on the asset, sold the property at auction, according to public records.<\/p>\n<p>The shopping asset last traded in 2016, for more than $25 million. The new owners are planning to renovate the fa\u00e7ade and add dining options to the retail amenities. The deal marks the sixth shared transaction between Elevation and Auerbach, Peter Auerbach, founder and managing partner stated, in prepared remarks.<\/p>\n<p>The site is located at 11736 W. Broad St., near the junction of interstates 64 and 295, in the Shot Pump area. Parc Place is part of the W. Broad St. retail corridor, while downtown Richmond is 15 miles southeast of the property. The shopping center\u2019s retail cluster includes Dollar Tree and PetSmart, two brands that <a href=\"https:\/\/www.commercialsearch.com\/news\/dollar-general-bucks-the-retail-trend-with-popshelf-launch\/\">performed well throughout the pandemic<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 83,000-square-foot retail property traded for roughly $14 million less than at its previous sale in 2016.<\/p>\n","protected":false},"author":739,"featured_media":1004506853,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21749,36153],"tags":[50593,33283,35660,35136],"class_list":["post-1004490934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-retail","category-richmond-hampton-roads","tag-auerbach-funds","tag-colony-capital-inc","tag-dollar-general","tag-petsmart"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JV Buys Suburban Richmond Shopping Center for $11M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Buys Suburban Richmond Shopping Center for $11M\" \/>\n<meta property=\"og:description\" content=\"The 83,000-square-foot retail property traded for roughly $14 million less than at its previous sale in 2016.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-06T12:46:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1283\" \/>\n\t<meta property=\"og:image:height\" content=\"823\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/\"},\"author\":{\"name\":\"Beata Lorincz\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/23f841021ddf3b38ebc56abefe1d6004\"},\"headline\":\"JV Buys Suburban Richmond Shopping Center for $11M\",\"datePublished\":\"2020-11-06T12:46:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/\"},\"wordCount\":172,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Parc-Place.jpg\",\"keywords\":[\"Auerbach Funds\",\"Colony Capital Inc.\",\"Dollar General\",\"PetSmart\"],\"articleSection\":[\"Deals\",\"Investment\",\"Mid-Atlantic\",\"News\",\"Retail\",\"Richmond\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/\",\"name\":\"JV Buys Suburban Richmond Shopping Center for $11M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Parc-Place.jpg\",\"datePublished\":\"2020-11-06T12:46:03+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/23f841021ddf3b38ebc56abefe1d6004\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Parc-Place.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/03\\\/Parc-Place.jpg\",\"width\":1283,\"height\":823},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/jv-buys-suburban-richmond-shopping-center-for-11m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JV Buys Suburban Richmond Shopping Center for $11M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Beata-Lorincz.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/beata-lorincz\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JV Buys Suburban Richmond Shopping Center for $11M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/","og_locale":"en_US","og_type":"article","og_title":"JV Buys Suburban Richmond Shopping Center for $11M","og_description":"The 83,000-square-foot retail property traded for roughly $14 million less than at its previous sale in 2016.","og_url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-11-06T12:46:03+00:00","og_image":[{"width":1283,"height":823,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/"},"author":{"name":"Beata Lorincz","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"headline":"JV Buys Suburban Richmond Shopping Center for $11M","datePublished":"2020-11-06T12:46:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/"},"wordCount":172,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","keywords":["Auerbach Funds","Colony Capital Inc.","Dollar General","PetSmart"],"articleSection":["Deals","Investment","Mid-Atlantic","News","Retail","Richmond"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/","url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/","name":"JV Buys Suburban Richmond Shopping Center for $11M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","datePublished":"2020-11-06T12:46:03+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","width":1283,"height":823},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-suburban-richmond-shopping-center-for-11m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JV Buys Suburban Richmond Shopping Center for $11M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/Parc-Place.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004490934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004490934"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004490934\/revisions"}],"predecessor-version":[{"id":1004491003,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004490934\/revisions\/1004491003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004506853"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004490934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004490934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004490934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}