Albanese Cormier Holdings Expands into Virginia with New Acquisition

 

Chesterfield Bryant

CHESTERFIELD COUNTY, VIRGINIA – Albanese Cormier Holdings is pleased to announce the acquisition of Cross Pointe Marketplace in Chesterfield, Virginia. The 73,788 square foot property, purchased at an undisclosed amount from national REIT Phillips Edison & Company, is anchored by Food Lion, shadow-anchored by Bryant & Stratton College and is located off of Hull Street Road, a major retail corridor.

Chesterfield County is the third-most populous county in Virginia, behind Fairfax County and Prince William County, respectively. With anchors including Food Lion, which occupies more than 32,000 square feet, and Bryant Stratton College, which is attended by more than 500 students, the center is well-positioned within its market and offers potential tenants excellent roadway exposure.

Benefiting from the area’s high population demographics and high traffic counts along Hull Street Road, Cross Pointe Marketplace is a desirable location for any business. Prior to the purchase, recent capital improvements were completed, including a new roof, new pylon signs, new paint, lights and parking lot repairs.

This is the first property within the state of Virginia for Albanese Cormier Holdings, the commercial real estate holding company headquartered in Beaumont, Texas. The company also has property in nearby states, including Kentucky, Tennessee and Georgia. Eric Wohl of Hanley Investment Group represented the buyer in this purchase.

ALBANESE CORMIER HOLDINGS

Albanese Cormier Holdings is a commercial real estate development company currently holding more than 3 million square feet of strategically placed assets throughout Texas, Louisiana, Mississippi, Arkansas, Missouri, Tennessee, Kentucky, Kansas, New Mexico, Illinois, Georgia and Virginia. For more information about our company or on any other property within the ACH portfolio, please visitwww.AlbaneseCormier.com or contact the main office at (409) 892-0200.