RICHMOND, Va. -- As it looks to continue to find its footing after a management shakeup last summer, a local real estate firm has offloaded its main Richmond-area property.
Medalist Diversified REIT last month sold Hanover Square, a 73,000-square-foot Mechanicsville shopping center it had owned since 2018. That’s according to an SEC filing made by the publicly traded, downtown-based firm.
The Marshalls and Old Navy-anchored retail strip at 7230 Bell Creek Road sold for $13 million. The sale included the divestiture of Medalist’s 84 percent stake in the property and the 16 percent stake of its tenant-in-common partner.
The buyer was North Carolina-based Prudent Growth Partners. Its other Richmond-area holding is the Shoppes at River Forest in Chester, according to it website.
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