Acquisitions grow Klein Enterprises’ Virginia retail portfolio to six properties
Baltimore-based developer Klein Enterprises has acquired two shopping centers – Courthouse Shops, located at 6921 Commons Plaza, and Cloverhill Shops, located at 13918 Hull Street, both in Chesterfield County, Va., located just south of Richmond, Va.
Courthouse Shops, a 19,876-square-foot shopping center, currently has eight tenants including Starbucks, Jersey Mike’s, Tropical Smoothie Café, Hair Cuttery, UPS, Inhale Yoga, Nail Salon and Edward Jones. The property has one 1,253-square-foot space available for lease.
Cloverhill Shops, also a 19,876-square-foot shopping center, is fully leased with 10 tenants, including Verizon Wireless, Benjamin Moore Paints, PostNet, a well-known local pizza place with multiple locations, a martial arts studio, , Kumon and others.
“Virginia has been a focus for us as we look to expand outside of Maryland. We see a lot of opportunity in the Richmond market, and are excited to have these two centers added to the Klein Enterprises portfolio,” said Daniel Klein, president of Klein Enterprises.
The shopping centers are conveniently located within 20 miles of downtown Richmond in the submarkets of Midlothian and Chesterfield. Both submarkets are marked by strong employment and population growth, and each respective center offers a blend of high performing national and local service-oriented tenants – many of whom have enjoyed success at these locations since the centers were developed approximately ten years ago.
In addition to Courthouse Shops and Cloverhill Shops, Klein Enterprises owns four additional properties in Virginia all of which were purchased or developed in the last few years; including Pleasant Valley Marketplace, located at 2021-2065 S. Pleasant Valley Rd., Stafford Corner, located at 90 and 100 Prosperity Lane, in Virginia, 1500 Westbranch in Tysons Corner, VA, and Market at Opitz Crossing at 2141 Opitz Boulevard in Woodbridge, Va.
About Klein Enterprises
Over four generations, Klein Enterprises has grown from a single department store to over 35 properties comprised of over 2 million square feet of commercial properties and approximately 1800 Class A multifamily units, all while upholding a tradition of hard work and innovation instilled by the Klein family. Klein Enterprises, based in Baltimore, has decades of experience and success in development, acquisitions, brokerage, leasing, property and asset management. For more information on Klein Enterprises, visit www.kleinenterprises.com.
