October 15, 2020
Value-add retail owner and operator Broad Reach Retail Partners has acquired Warsaw Village Shopping Center, a 60,100-square-foot shopping center in Warsaw, VA. The sales price and seller was not disclosed.
Located one-hour northeast of Richmond, the center is anchored by a newly renovated Food Lion. Warsaw Village also features a tenant lineup that includes Walgreens, Virginia ABC and US Renal Care. The center is currently 81% occupied and has 11,500 square feet of spaces for leases ranging from 1,350 to 7,150 square feet. The center also includes a one-acre out pad at the front of the property.
“I’ve always maintained that necessity-based retail may evolve, but will always thrive,” said Nate Tower, CEO at Broad Reach. “Most of our anchors are essential businesses like grocery and other supporting retail around them providing necessary goods and services. Their communities need them now more than ever, and it’s been inspiring to watch them rise to such an unexpected, far-reaching challenge.”
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