 |
| Settler's Market, 5020-5225 Settlers Market Boulevard, Williamsburg, VA |
WASHINGTON, D.C. – June 22, 2015 – Holliday
Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $61.2
million sale of Settlers Market, a 239,464-square-foot, 97-percent-leased
retail power center anchored by Trader Joe’s in Williamsburg, Virginia.
 |
| Jordan Lex |
HFF marketed
the property on behalf of the seller, a partnership between Federal Capital
Partners® and Westmoreland Partners, LLC.
AEW Capital Management, L.P. (AEW) purchased the asset.
Built in
phases between 2009 and 2014, Settlers Market is the commercial anchor to the
395-acre New Town planned development, a live-work-shop community that has
become a destination for local residents, students and tourists.
In addition
to Trader Joe’s and an adjacent Walmart Neighborhood Market, tenants of the
center include Michaels, HomeGoods, ULTA Beauty, Stein Mart, Cost Plus World
Market, Party City, Petco, Five Below, Dress Barn, Shoe Carnival, Pier 1
Imports, Zoës Kitchen, Which Wich and Noodles & Co.
Situated on 36 acres at 5020-5225 Settlers
Market Boulevard, the center is located at the mid-point of Route 199, which
connects north and south to Interstate 64 and provides easy access from
Williamsburg, James City County and the Peninsula Region.
The HFF team
representing the seller was led by director Jordan Lex, senior managing director Danny Finkle, managing director John Owendoff and real estate analyst Christopher Horning.
 |
| Danny Finkle |
“Settlers
Market represents a best-in-class shopping center in an affluent community,
which drove both retailer and investor demand for the asset,” Lex said.
“We extend a
special thanks to our JV partner, Westmoreland Partners; our leasing and
property management team at The Shopping Center Group and James City County for
helping our team restore this important commercial site to its potential,” said
Howard Jenkins, vice president of
Federal Capital Partners®.
“Settlers Market is located at one of the most
visible and central locations in the Williamsburg MSA. With careful planning, design and targeted
leasing efforts, we were able to fulfill our team’s original vision to develop
and stabilize a well-merchandised economic retail engine to the community’s
benefit.
“We greatly
appreciate HFF’s careful attention to our sale and ultimately identifying a new
owner in AEW, one of the largest retail owners in the U.S. We leave this project in very capable hands.”
For a complete copy of the company’s
news release, please contact:
Kristen M.
Murphy
Associate
Director
HFF | One
Post Office Square, Suite 3500 | Boston, MA 02109
Main:
617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
No comments:
Post a Comment