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ZIFF PROPERTIES ACQUIRES STONY POINT SHOPPING CENTER

RICHMOND, VA – Ziff Properties, Inc. today announced the acquisition of Stony Point Shopping Center, a 114,347-square-foot retail center, located in the Historic Bon Air community of Richmond, VA. John Owendoff and Jordan Lex of HFF represented the seller. This property is one of a few shopping centers on the heavily trafficked Huguenot Road, a major thoroughfare for residential communities of Midlothian into the West End and downtown Richmond. The center has a great stable of healthy and dedicated businesses on which the area depends. Stony Point also has a 40,060 sf former grocery box, which ZPI hopes to lease or redevelop in the near future. Jim Ashby with Cushman Wakefield Thalhimer will continue to handle leasing with the assistance of Alec Boyle of Ziff Properties. Ziff Properties will take over management of the shopping center.

Assistant Director of Acquisitions, Gordon Valentine, Jr. says, “For some time now, we have been searching for the right entry into the Richmond market. We are excited about the opportunity to work with local businesses as we continue to enhance the Stony Point Shopping Center.”

For Further Information:
Holly Morris
843.724.3417
hmorris@zpi.net

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