Shopping center in Midlothian sells for $4.8 million
The Arch Village Shopping in Chesterfield County has sold for $4.8 million.
S.L. Nusbaum Realty Co., which announced the sale, said the center at 9131-9219 Midlothian Turnpike totals about 55,000 square feet on just over five acres. The property included two separate parcels offered by sellers KBAS LLC and Harding Property 1. The center includes a 30,000-plus square-foot, big-box store, formerly occupied by American Freight, with the remaining space used by small shops.
The properties were sold to Arch Village Management Realty and Midlothian Management Realty. According to Nusbaum, the new ownership intends to merge the properties into one parcel for the purpose of adding an outparcel to the site.
Nusbaum’s Nathan Shor and Reid Cardon represented the buyer and seller on the big box component and the buyer on the small shop space. Joe Harding of Harding & Associates represented the seller of the small shop space.