Insignia Thalhimer Negotiates Sale of 55,000-SF Former Homeplace

RICHMOND, VA-In a $6.1-million transaction, Insignia Thalhimer closes the sale of the former Homeplace building to Kroger Limited Partnership. The 55,000-sf retail facility will become a Kroger grocery store, scheduled to open in the summer of next year. Insignia represents the supermarket operator, which purchases the property from Opus East, LLC.

The building is in a fully leased retail complex that houses “power center” retailers Target, Home Depot and Kohl’s. The grocery store will be Kroger’s 11th outlet in the Richmond region. “Kroger has been looking for a long time for a location in that market,” says Insignia Thalhimer Vice President Connie Jordan Bradford. “So they were extremely pleased to be able to complete this transaction.” The building is located in the Short Pump area of town, at the far west end of Richmond. “It’s one of the hot places to be in Richmond,” Bradford notes. “It’s the highest growth portion of the market–high end, high growth, and hard to find locations. It’s a great opportunity.” A leader in the region, Insignia’s commercial brokerage group has made over 975 lease and sale transactions, and has a property management portfolio of 17,804,340 sf.