JRE Partners, Anastacia AG Purchase 1M-SF Mall in Richmond for $80M

A joint venture of New York-based investment firm JRE Partners and Anastacia AG, a Swiss company, has purchased Chesterfield Towne Center, a one-million-square-foot retail center in Richmond, Virginia, for $80 million.

Pacific Retail Capital Partners (PRCP) has been selected to manage the property. PRCP will assume operational leasing, master planning and design service responsibilities for the 1.03 million-square-foot asset, overseeing the property’s long-term strategic direction, including a potential redevelopment.

Located at the intersection of Midlothian Turnpike and Huguenot Road, Chesterfield Towne Center is the largest enclosed mall in the Richmond area. The mall’s anchors include Macy’s, JCPenney, At Home, and T.J. Maxx/HomeGoods, alongside a lineup of more than 130 national retailers and dining destinations.

We collectively feel there is massive upside potential at this strategically important asset that can be realized through leasing enhancements, operational improvements and repositioning opportunities – all services that PRCP specializes in and excels at,” said Steve Plenge, CEO and Founder of PRCP.

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