Short Pump retail center sells for $10.8M
82K-square-foot Parc Place purchased by Auerbach-Parc Short Pump
A strip shopping center next to Short Pump Town Center in Henrico County sold for $10.8 million, Richmond-based Motleys Asset Disposition Group announced last Wednesday.
The 82,000-square-foot shopping center is located at 11736 W. Broad St. and is known as Parc Place at Short Pump. Its anchor tenant is PetSmart and other occupants include Tropical Smoothie Cafe and Dollar Tree.
Auerbach-Parc Short Pump purchased the property from Los Angeles-based Colony Capital at an online auction in late August, according to Motleys, and the deal closed on Oct. 27.
Located across the road from the Dillard’s department store at Short Pump Town Center, the property was built in 2005, according to Henrico County property records, which show that the property was purchased that year by Gibraltar Virginia S LLC for $26.13 million. It was last assessed at $17.72 million in January.
Phillip Baxter of SVN/Motleys represented the seller during the transaction.