RICHMOND, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller, 1420 N Parham Rd, LC, in the sale of a single tenant net-leased outparcel building at 1420 N. Parham Road in Henrico County, Virginia. 
The 3,615 square foot retail property, fully leased to First Watch Restaurants, Inc. with a ten-year lease, is located in a designated opportunity zone within the mixed-use Regency redevelopment in Richmond’s West End. 
Upon completion, Regency will have 1,250 apartment units and over 850,000 square feet of retail, office, hotel and entertainment space, transforming the site into the Tuckahoe District’s  premiere residential mixed-use walkable community. The first 320 apartment building will begin construction in next few months.  Some of the new tenants committed to the development or recently opened for business are NOVA Swim Club, one of the east coast’s top swimming organizations for which Regency is developing a 50,000 sf, $18M state of the art swimming facility transforming a prior Macy’s Building, Surge Trampoline Park, BetterMed, Panera, PenFed Realty, Yoga6, Jersey Mike’s, Starbucks, Chipotle and MOD Pizza.
Parkway Gardens, LLC acquired the asset on April 30, 2020 for $2,740,000 ($758/SF). The sale was completed by Eric Robison and Catharine Spangler of Thalhimer’s Capital Markets Group.