Broad Street Realty acquires mixed-use property for $122m

Broad Street Realty has paid $122 million for Midtown Row in Williamsburg, Va.

The mixed-use property is a recently completed development comprising 240 student housing units with 620 beds and a retail component of 63,573 square feet of gross leasable area.

“We are proud to further solidify our commitment to Midtown Row and the Williamsburg region with this acquisition,” said Michael Z. Jacoby, chairman of the board of directors and CEO of the company. “We have served as the development manager for Midtown Row and serve as the property manager and the leasing broker for the retail portion as well, so this is truly a natural evolution.”

Midtown Row is Broad Street Realty’s fifth active property in Virginia and 16th within the overall portfolio.