Pantops Plaza Shopping Center in Charlottesville sells for $6.7 million
CooperQuincy LLC has purchased the Pantops Plaza Shopping Center in Charlottesville for $6.7 million, or about $638 per square feet. The company acquired the 10,518-square-foot strip center on Feb. 1, as part of a larger 1031 exchange, according to Cushman & Wakefield | Thalhimer’s Capital Markets Group, which represented the seller, Riverbend Development.
Thalhimer said the center is 100 percent leased to a variety of national tenants including Starbucks and Chipotle. “The asset garnered significant interest in the marketplace …” Thalhimer said in a press release on the sale.
Thalhimer’s Catharine Spangler in Richmond handled sale negotiations with the assistance of Ed Kimple in Thalhimer’s Virginia Beach office. Thalhimer’s Charlottesville office has retained property management of the asset on behalf of the new ownership.