United Hampshire Acquires Grocery-Anchored Shopping Center in Metro Richmond for $26.3M
COLONIAL HEIGHTS, VA. — United Hampshire US REIT, a Singapore-based real estate investment trust, has acquired Colonial Square, a 168,326-square-foot, grocery-anchored shopping center in Colonial Heights, about 23 miles south of Richmond. Jordan Lex, Daniel Naughton and Bill Moylan of JLL represented the seller, an entity known as Colonial Square Associates, in the $26.3 million transaction.
Colonial Square was 99 percent leased at the time of sale to tenants including Publix, Locke Supply Co., Wells Fargo and Dollar General. Built in 1967, the center was most recently renovated in 2017 that coincided with the Publix opening.
Located off Interstate 95 at 3107 Blvd., the shopping center is situated 20.5 miles from downtown Richmond, 27.8 miles from University of Richmond and 2.2 miles from Southpark Mall, a shopping mall with shops, a food court and a movie theater.