Elevation Real Estate Group, a Charlotte, N.C.–based real estate company, in partnership with Auerbach Funds and Beechmont Acquisitions, has acquired Parc Place, an 82,968-square-foot retail shopping center in a suburb of Richmond, Va. The sales price was $10.8 million.
The shopping center is located at 11736 and 11740 West Broad St. in Short Pump, Va., adjacent to Short Pump Town Center near the intersection of Interstates 64 and 295, and a short distance from Interstate 95. The location provides easy access to growing and affluent nearby suburban neighborhoods, as well as downtown Richmond. The center is home to a number of well-known retail brands, including Dollar Tree, PetSmart, DXL Big & Tall, and Tropical Smoothie.
“The Parc Place property is in an excellent location, with strong retail demographics that made it an attractive purchase,” said Dante Massaro, principal, Elevation Real Estate Group. “We are confident that with our 25 years of retail deve
