Atlee Square Shopping Center
Realized Atlee Square Shopping Center is a 43,015 square-foot class-B shopping center located in the Mechanicsville submarket of Richmond, VA, which was acquired by Lingerfelt’s predecessor on October 31, 2005. At acquisition the center was substantially vacant and in need of refurbishment. Along with the strip center was an outparcel that was later leased to a Popeyes Louisiana Kitchen operator.
Investment Info
- Status: Realized
- Market: Richmond, VA
- Property Type:
Retail - Square Footage: 43,015
- Lingerfelt Role: General Partner
- Strategy: Acquisition
- Sub-Strategy: Reposition, Renovation, Lease-Up
Investment Metrics
- Entry Date: December 05, 2005
- Purchase Price: $2,200,000
- Total Capitalization: $3,000,000
- Exit Date: April 30, 2019
- Exit Price: $3,000,000
- Hold Period: 13.4 Years
