CTO Realty Growth has acquired West Broad Village, a 392,000-square-foot mixed-use, grocery-anchored lifestyle property in the Short Pump submarket of Richmond, Va., for $93.9 million.
“We’re very pleased to be adding to our grocery-anchored asset exposure with our acquisition of West Broad Village, our first Whole Foods and REI-anchored lifestyle property,” said John P. Albright, president and CEO of CTO Realty Growth. “With future leasing opportunities to drive attractive stabilized cash flows, strong supporting demographics, and Richmond’s high quality of life, business-friendly policies and consistent population growth, West Broad Village represents a terrific opportunity for us to invest in a dominant grocery-anchored lifestyle property with long-term upside.”
West Broad Village was developed on 32.6 acres in phases between 2007 to 2014 and is surrounded by a mix of high-end residential, hospitality and office properties. Prominently situated on West B
