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Colliers Capital Markets Sells Eastgate Town Center For $18,255,000

RICHMOND, Va, December 1, 2021 – Colliers is pleased to announce the sale of Eastgate Town Center, a 117,773 square foot, best-in-class super regional shopping center located in Richmond’s East End submarket. Shadow Anchored by the only Walmart Supercenter within Richmond’s 295 beltway, the asset was 97% occupied at the time of sale and leased to a diverse, credit tenant mix to include Conn’s, Planet Fitness, Hibbett Sports, VABC, T-Mobile, Dunkin’ Donuts among others with an average weighted lease term of just under 6 years. Eastgate Town Center was acquired by EASTGATE TOWN, LLC, owned by Washington, DC businessman Nelson Ayala. The Premier Companies assisted the buyer in the transaction and will manage the property.

Located at 4905-4995 Nine Mile Road, Eastgate Town Center now sits on the former site of Eastgate Mall which was originally constructed in 1967 and only Richmond’s second mall at the time. Less than 6 miles East of Downtown Richmond the 31 acre site underwent redevelopment in 2017 and was transformed into one the East End’s most dominant retail destinations. 

Mark Williford, vice president, and Will Bradley, executive vice president, represented the seller, Eastgate Town Center, LLC, owned by Richmond based real estate investor Mark Harris.  

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Will Bradley

Executive Vice President

Richmond - North

Will Bradley leads Colliers Central Virginia Capital Markets group and specializes in structuring and facilitating the acquisition and disposition of complex development and institutional investment properties. Mr. Bradley’s background in financial and market analysis combined with his significant ongoing deal activity delivers his clients unmatched transparency into the current real estate capital markets. Mr. Bradley’s clients further benefit from his team’s comprehensive scenario analyses incorporated into his strategic advisory to maximize their assets’ values in the complex marketplace. Over the past two years, he has handled more than $300 million in investment sales advisory services.

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Mark Williford

Vice President

Richmond - North

Mr. Williford specializes in investment sales transactions throughout the Mid-Atlantic and Southeast and brings an unparelled level of passion and expertise to the business. With over 8 years of commercial real estate experience he has successfully represented private, high-net worth and institutional clientele in the successful disposition of retail, mixed-use, office and industrial assets totaling $550,000,000.  

Prior to joining Colliers International, Mr. Williford was a Director at HFF in Denver, Colorado, one of the largest and most successful commercial real estate capital intermediaries serving the United States and Western Europe. Prior to joining HFF, Mr. Williford was a leasing broker with SullivanHayes focused on tenant and landlord representation where he completed more than 500,000 square feet of lease transactions. He began his career in real estate as an intern at The Wilton Companies in Richmond, Virginia.

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