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“Northern Virginia is a supply constrained market with limited investment opportunities, we are fortunate to have acquired this off-market opportunity as we continue to grow our industrial investment portfolio,” said Glenn Rosenthal, President of Rosenthal Properties.

To continue reading click: https://dc.citybizlist.com/article/568120/rosenthal-acquires-84000-sf-warehouse-in-lorton-va

“Northern Virginia is a supply-constrained market with limited investment opportunities, we are fortunate to have acquired this off-market opportunity as we continue to grow our industrial investment portfolio,” said Glenn Rosenthal, President of Rosenthal Properties.

The property includes a large outdoor storage component and is zoned I-6 (heavy industrial).  It is currently leased to Carpet, Binding & Fringing Inc. and DPR Construction. The 35,000 square foot vacancy includes multiple dock-high and drive-in loading doors with an abundant paved outdoor storage lot.  The property has 24-foot clear ceiling heights and outstanding accessibility off Interstate 95 and Fairfax County Parkway.

The seller was represented by Bert Harrell, a Principal at Avison Young.

About Rosenthal Properties:

Founded in 1999, Rosenthal Properties is regarded as one of the Washington area’s most reputable, fully-integrated commercial real estate firms, offering its clients a full range of services, including property management, leasing, and construction management. Currently, the company owns, leases or manages a portfolio of approximately 6.9 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, including Penn Mar Shopping Center in Forestville, Maryland, Stonehenge Village in Richmond, Virginia and Prince William Square Shopping Center in Woodbridge, Virginia, among others. For additional information on the full scope of the company’s services, visit  www.rosenthalproperties.com.

“We feel Harmony will be an excellent addition to the property and community,” said Billy Orlove, Director of Leasing for Rosenthal.

“Telegraph Village provides a top-quality tenant mix in Alexandria, and we know Harmony will enhance the overall center.”

Nora Foley and Nicola Carleton of Rosenthal Realty represented the landlord in the transaction. Cecilia Valois of KW Capital Properties represented the tenant. Harmony will join The Little Gym, Grounded Coffee Shop, and Paisano’s

Harmony Animal Hospital strives to have a state-of-the-art hospital with a staff trained in all the latest medical advances. Harmony prides themselves on being a team full of animal lovers and offers many services at their Alexandria location. Services include microchipping, nutrition counseling, surgery, diagnostics, and many more.

About Rosenthal Properties:

Founded in 1999, Rosenthal Properties is regarded as one of the Washington area’s most reputable, fully-integrated commercial real estate firms, offering its clients a full range of services, including property management, leasing, and construction management. Currently, the company owns, leases or manages a portfolio of approximately 7.5 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, including Penn Mar Shopping Center in Forestville, Maryland, Rio Hill Shopping Center in Charlottesville, Virginia and Prince William Square Shopping Center in Woodbridge, Virginia, among others. For additional information on the full scope of the company’s services, visit  www.rosenthalproperties.com.

https://dc.citybizlist.com/article/536331/rosenthal-properties-and-pgim-real-estate-acquire-125m-grocery-anchored-retail-portfolio-in-richmond-va

“Solid economic and demographic trends in the Richmond submarkets are supporting retail sales growth, and we expect this portfolio of high-quality and well-located necessity retailers will benefit from pro-business initiatives that will continue to attract an array of industries,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “In partnership with Rosenthal Properties, we look forward to driving improvements within the portfolio to realize the full potential of the properties for the benefit of the tenants and residents, and to provide stable cash flows for our investors.”

The properties are located in the highly desirable micro-markets of Glen Allen, West End and Midlothian, and are maintained as first-class centers with national anchors as well as local tenants. All five properties offer prominent frontage on major thoroughfares and have significant barriers to entry for new retail development.

The venture’s investments include:

• Staples Mill Marketplace, a 165,000-square-foot center anchored by Kroger Marketplace
• Staples Mill Square, a 95,000-square-foot center anchored by Aldi (and a shadow Target)
• Parham Plaza, a 177,000-square-foot center anchored by Walmart
• Ridge Shopping Center, a 100,000-square-foot center anchored by The Fresh Market
• Stonehenge Village, a 205,000-square-foot center anchored by Wegmans

The joint venture plans to extract further density by developing the remaining outparcels, enhancing the mix of national and local tenants and addressing the near-term tenant expirations. Parham Plaza, for example, will welcome a new prototypical TJ Maxx in spring 2019.

The acquisition was led by Todd Goldberg, Managing Director and Head of Capital Markets at PGIM Real Estate; Rushabh M. Shah, Executive Director, transactions at PGIM Real Estate; Glenn Rosenthal, President at Rosenthal Properties; and Gregory Jacobsen, Vice President at Rosenthal Properties.

The seller was represented by Connie Jordan Nielsen, Senior Vice President of Cushman & Wakefield Thalhimer, who will continue to lease the assets in conjunction with Rosenthal’s Director of Leasing, Billy Orlove.

About Rosenthal Properties

Rosenthal Properties is regarded as one of the mid-Atlantic’s most reputable, fully integrated commercial real estate firms, offering its clients a full range of services, including property management, leasing and construction management. Currently, the company owns, leases or manages a portfolio of approximately 7 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, D.C. For additional information on the full scope of the company’s services, visit www.rosenthalproperties.com.

About PGIM Real Estate

PGIM, the global investment management business of Prudential Financial, Inc. (NYSE), is one of largest real estate investment managers in the world, with more than $168.4 billion in gross real estate assets under management and administration, as of December 31, 2018.* Through its PGIM Real Estate and PGIM Real Estate Finance businesses, PGIM leverages a 140-year history of real estate lending on behalf of institutional and middle-market borrowers, a 49-year legacy of investing in commercial real estate on behalf of institutional investors, and the deep local knowledge and expertise of professionals in 31 cities around the world.

PGIM Real Estate, the real estate investment management business of PGIM, has been redefining the real estate investing landscape since 1970. Combining insights into macroeconomic trends and global real estate markets with excellence of execution and risk management, PGIM Real Estate’s tenured team offers to its global clients a broad range of real estate equity, debt, and securities investment strategies that span the risk-return spectrum and geographies. For more information, visit www.pgimrealestate.com.

Rosenthal Properties and PGIM Real Estate have formed a joint venture to acquire a portfolio of five grocery-anchored shopping centers located in the Richmond, Va. metropolitan area for approximately $125 million. Rosenthal will serve as operating partner, responsible for managing and leasing the portfolio. PGIM Real Estate, acting on behalf of institutional investors, is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial (NYSE: PRU).

“Solid economic and demographic trends in the Richmond submarkets are supporting retail sales growth, and we expect this portfolio of high-quality and well-located necessity retailers will benefit from pro-business initiatives that will continue to attract an array of industries,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “In partnership with Rosenthal Properties, we look forward to driving improvements within the portfolio to realize the full potential of the properties for the benefit of the tenants and residents, and to provide stable cash flows for our investors.”

The properties are located in the highly desirable micro-markets of Glen Allen, West End and Midlothian, and are maintained as first-class centers with national anchors as well as local tenants. All five properties offer prominent frontage on major thoroughfares and have significant barriers to entry for new retail development.

The venture’s investments include:

• Staples Mill Marketplace, a 165,000-square-foot center anchored by Kroger Marketplace
• Staples Mill Square, a 95,000-square-foot center anchored by Aldi (and a shadow Target)
• Parham Plaza, a 177,000-square-foot center anchored by Walmart
• Ridge Shopping Center, a 100,000-square-foot center anchored by The Fresh Market
• Stonehenge Village, a 205,000-square-foot center anchored by Wegmans

The joint venture plans to extract further density by developing the remaining outparcels, enhancing the mix of national and local tenants and addressing the near-term tenant expirations. Parham Plaza, for example, will welcome a new prototypical TJ Maxx in spring 2019.

The acquisition was led by Todd Goldberg, Managing Director and Head of Capital Markets at PGIM Real Estate; Rushabh M. Shah, Executive Director, Transactions at PGIM Real Estate; Glenn Rosenthal, President at Rosenthal Properties; and Gregory Jacobsen, Vice President at Rosenthal Properties.

The seller was represented by Connie Jordan Nielsen, Senior Vice President of Cushman & Wakefield Thalhimer, who will continue to lease the assets in conjunction with Rosenthal’s Director of Leasing, Billy Orlove.

About Rosenthal Properties

Rosenthal Properties is regarded as one of the mid-Atlantic’s most reputable, fully integrated commercial real estate firms, offering its clients a full range of services, including property management, leasing and construction management. Currently, the company owns, leases or manages a portfolio of approximately 7 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, D.C. For additional information on the full scope of the company’s services, visit www.rosenthalproperties.com.

About PGIM Real Estate

PGIM, the global investment management business of Prudential Financial, Inc. (NYSE), is one of largest real estate investment managers in the world, with more than $168.4 billion in gross real estate assets under management and administration, as of December 31, 2018.* Through its PGIM Real Estate and PGIM Real Estate Finance businesses, PGIM leverages a 140-year history of real estate lending on behalf of institutional and middle-market borrowers, a 49-year legacy of investing in commercial real estate on behalf of institutional investors, and the deep local knowledge and expertise of professionals in 31 cities around the world.

PGIM Real Estate, the real estate investment management business of PGIM, has been redefining the real estate investing landscape since 1970. Combining insights into macroeconomic trends and global real estate markets with excellence of execution and risk management, PGIM Real Estate’s tenured team offers to its global clients a broad range of real estate equity, debt, and securities investment strategies that span the risk-return spectrum and geographies. For more information, visit www.pgimrealestate.com.

Richmond-based Marchetti Properties has sold a five-property shopping center portfolio in the Richmond area for $125 million.

Vienna-based Rosenthal Properties purchased the portfolio, which includes a total of 745,000 square feet of retail space, on March 1. Rosenthal also owns West Broad Marketplace in Western Henrico County.

Connie Jordan Nielsen, senior vice president at Cushman & Wakefield | Thalhimer, represented Marchteti Properties in the sale.

The properties, which are either discounter or grocery-anchored, are on average more than 95 percent leased.

The portfolio includes:

• Stonehenge Village, located on Midlothian Turnpike at Walmart Way (12501-125601 Stone Village Way) in Chesterfield County. The 180,000-square-foot shopping center is anchored by Wegmans and includes 71,300 square feet of inline space, with five outparcels.

• Parham Plaza, located on N. Parham Road at Quioccasin Road (1518-1532 N. Parham Road) in Henrico County, is a 177,450-square-foot center anchored by Walmart, T.J. Maxx and Petco.

• Staples Mill Marketplace is a 156,476-square-foot retail center anchored by Kroger Marketplace, with multiple outparcels including Panda Express and Zaxby’s, located on Staples Mill Road (9000-9120 Staples Mill Road) near the intersection of Hungary Spring Road in Henrico County.

• Ridge Shopping Center, totaling 101,163 square feet, is located across from Parham Plaza at 1500-1552 N. Parham Road, and anchored by The Fresh Market.

• Staples Mill Square, a 96,488-square-foot Target (separately owned), Aldi and Petco-anchored center, is located on Staples Mill Road at Old Staples Mill Road (9001 Staples Mill Road) in Henrico County.

Clockwise from left: Staples Mill Square, Staples Mill Marketplace, Stonehenge Village and Parham Plaza. (Photos by J. Elias O’Neal)

Article by: J. Elias O’Neal 

A family of local retail developers went on a nine-figure selling spree last month.

Henrico-based Marchetti Properties in recent weeks sold at least five of its large grocery-anchored shopping centers to a Northern Virginia buyer for a total of approximately $125 million, according to deeds recorded in Henrico and Chesterfield.

The deals involved Staples Mill Marketplace, Parham Plaza, Ridge Shopping Center and the Staples Mill Square retail complexes in Henrico County; and the Wegmans-anchored Stonehenge Village shopping center in Chesterfield County.

Ridge Shopping Center.

Vienna-based Rosenthal Properties was the buyer, county records show. The deals closed in late February.

Gregory Jacobsen, Rosenthal vice president of acquisitions, said in an email that it purchased additional local properties from the Marchettis, but would not disclose the locations as of Friday evening. He said more details regarding the transactions would be coming.

Representatives from Marchetti Properties could not be reached for comment.

With its acquisition of the retail centers complete, Rosenthal, a relatively new player in the region, now owns at least 600,000 square feet of retail space in some of Richmond’s most lucrative suburban marketplaces.

Each center is anchored by a major grocery tenant, with outparcels that sit along corridors fetching some of the highest traffic counts in the region.

Stats on the properties

The Wegmans-anchored Stonehenge Village.

Stonehenge Village at 12501 and 12601 Stone Village Way in Chesterfield includes the 119,000-square-foot Wegmans property and an adjoining 71,300-square-foot retail center, which both opened in 2015. The center also includes four outparcels fronting Midlothian Turnpike that have sprouted a Taco Bell, Mission BBQ, Panda Express and Essex Bank in the last year.

Staples Mill Marketplace at 9000-9120 Staples Mill Road was constructed in 2014, anchored by a 124,000-square-foot Kroger Marketplace next to a 25,500-square-foot strip housing several restaurants and service retailers such as Massage Luxe, Firehouse Subs and Smoke Pit Grill. The acquisition also includes outparcels that house a Panda Express, Zaxby’s and a future Valvoline Oil Change; and 1.5- and 1.4-acre outparcel pad sites along Hungary Spring Road for development.

Staples Mill Square at 9001 Staples Mill Road was constructed in 2008 and is anchored by Petco. Its outparcels house McDonalds, Aldi, Taco Bell, Union Bank and America’s Tire. The sale does not include the 128,000-square-foot Target or the 1.3-acre Chipotle outparcel along Staples Mill Road.

The Petco-anchored Parham Plaza.

The Walmart-anchored Parham Plaza at 1518-1532 N. Parham Plaza is a 182,000-square-foot retail center that includes a Petco and Advance Auto Parts. T.J. Maxx is building out a 21,100-square-foot store in the center. It also includes a small strip center at 1502 N. Parham Road that houses Helzberg Diamonds and T-Mobile.

Rosenthal also picks up the 97,000-square-foot Ridge Shopping Center at 1500-1552 N. Parham Road. This includes a wooded outparcel at 1631 N. Parham Road, the Chick-fil-A and Sugar Shack Donuts outparcels, and the two large strip centers anchored by Fresh Market.

The bulk of Rosenthal’s holdings are in the Washington, D.C. metro area. It also manages the West Broad Marketplace retail center in Short Pump, which was sold about two years ago to Washington, D.C.-based MetLife Real Estate Investors for $74 million.

Washington, DC (December 2018) – Rosenthal Properties is pleased to announce that Rooster & Owl will be coming soon to Capitol View on 14^th, located at 2400 14^th Street, NW, Washington, DC. Rooster & Owl is a chef-driven, fine dining restaurant serving locally sourced ingredients and will focus on culinary artistry.

“Rooster & Owl will be an excellent addition to the property and community,” said Billy Orlove, Director of Leasing for Rosenthal. “We are confident that they will see amazing success at this location, and I am excited to dine there once open.”

Jane Le and Billy Orlove of Rosenthal Realty represented the landlord in the transaction. Dylan Daly of Kennedy & Co. represented the tenant.

Rooster & Owl has operated as a Pop-Up business since 2016 in order to premier their concept and generate interest. Their menu is designed to be vegetarian and pescatarian friendly without modifications. Co-founders Carey and Yuan Tang were inspired for their name, Rooster & Owl, by their completely opposite work schedules, but always letting food bring them together.

About Rosenthal Properties:

Founded in 1999, Rosenthal Properties is regarded as one of the Washington area’s most reputable, fully-integrated commercial real estate firms, offering its clients a full range of services, including property management, leasing, and construction management. Currently, the company owns, leases or manages a portfolio of approximately 6.5 million square feet of investment-grade retail centers, industrial parks and office buildings throughout Virginia, Maryland, and Washington, DC, including Penn Mar Shopping Center in Forestville, Maryland, Rio Hill Shopping Center in Charlottesville, Virginia and Prince William Square Shopping Center in Woodbridge, Virginia, among others. For additional information on the full scope of the company’s services, visit  www.rosenthalproperties.com.