Publix-anchored shopping center trades in Richmond
JLL Capital Markets led the sales efforts for Harbour Point Village in Midlothian, Virginia
WASHINGTON, D.C., July 23, 2024 – JLL Capital Markets announced today that it has completed the sale of Harbour Point Village, a 123,772-square-foot, grocery-anchored shopping center in Midlothian, Virginia.
JLL represented the seller, First Washington Realty. Publix Supermarkets, which is the anchor tenant at the property, purchased the asset.
Harbour Point Village is positioned on a 13.6-acre site at 13602-13728 Hull Street Rd., a vibrant commercial corridor, which has a daily traffic count of more than 70,000 vehicles per day. The property is also surrounded by robust residential development and is part of the Richmond metropolitan statistical area, which is home to more than 1.3 million residents and has seen an 11% population growth over the past 10 years.
Originally built in 1993 and renovated in 2017, Harbour Point Village is currently 96% leased to 16 tenants, including Publix, Golds Gym, Crumbl Cookie and a variety of local retailers and service-based tenants. The Publix at Harbour Point Village is one of the chain’s top performing stores, commanding more than 600,000 annual consumer visits.
JLL’s Investment Sales and Advisory team representing the seller was led by Managing Directors Jordan Lex and Dean Sands and Director Daniel Naughton.
“Well-performing grocery-anchored shopping centers in growing submarkets, especially in the Southeast, are in high demand from investors and Harbour Pointe Village was no exception,” said Lex.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About First Washington Realty
First Washington Realty (FWR) is a fully integrated, national real estate investment and management firm that specializes in the ownership of convenience, necessity and experience-oriented retail real estate.
FWR currently owns an interest in nearly 150 shopping centers with a value of over $9.1 billion located in 22 states and the District of Columbia. Its shopping center real estate portfolio contains nearly 22.4 million square feet with approximately 4,000 tenants.