301.807.6390

West Broad Commons Shopping Center

West Broad Commons - Food Lion
West Broad Commons - Aerial View

Portfolio Asset

Name West Broad Commons Shopping Center
Type Real Estate

Description

West Broad Commons Shopping Center (West Broad Commons) is a 103,308-sq. ft. neighborhood shopping center located in the Far West End retail corridor in Richmond, Virginia, just southeast of the affluent suburb of Short Pump. It is 91 percent leased and anchored by Food Lion.

Situated at the heavily trafficked intersection of West Broad Street and Tuckernuck Drive, West Broad Commons benefits from 48,000 vehicles passing by each day. West Broad Street is the dominant retail corridor in Richmond, with nearly all major big-box retailers occupying nearby store fronts, including Costco, Sam’s Club and Lowe’s. The shopping center is flanked by major car dealerships, including Volkswagen, Hyundai, BMW and Toyota.

West Broad Commons enjoys strong daytime traffic, with more than 76,000 people working within a three-mile radius. Numerous apartment communities and John R. Tucker High School, with nearly 1,500 students, are right behind the shopping center; Logan Elementary School, with just over 500 students, is a few minutes away. I-64, one of the main commuter arteries feeding Richmond’s central business district, runs parallel to West Broad Street, with an on-and-off ramp a mile away.

The investment will be used for capital improvements to enhance aesthetics and visibility. Renovations will include rebuilding the pylon sign, improving landscaping, seal coating the parking lot, repairing the roof and updating the facades.