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A notable West End shopping center has a new owner.
New Market Properties, LLC purchased the Gayton Crossing shopping center for $29 million from Regency Centers and an affiliate of First Washington Realty Jan. 17.
Gayton Crossing, located at the intersection of Gaskins, Gayton and Quioccasin roads, contains 46 retailers and more than 158,000 square feet of retail space and is anchored by Gold's Gym, Goldfish Swim School and Jos. A. Bank, among others. The sale of the property does not include a Kroger grocery store on the site, which is separately owned.
New Market Properties is an indirect subsidiary of Preferred Apartment Communities, Inc., of Atlanta, Georgia.
Cushman & Wakefield | Thalhimer's Eric Robison, Mark Gilbert and James Ashby IV completed the sale on behalf of the sellers.
“This opportunity was highly sought after given the long-standing tenancy of the many business and restaurants at the shopping center as well as the strategic location near so many affluent neighborhoods in Richmond's West End," Robison said.
