RICHMOND, VIRGINIA, May 30, 2025 – Cushman & Wakefield | Thalhimer announced that they have arranged the sale of Staples Mill Plaza, a 70,147 square foot Food Lion-anchored shopping center located along Staples Mill Road (Route 33) in Richmond, Virginia, on behalf of Stavins & Axelrod out of Washington, D.C.

Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller in the disposition. Richard Thalhimer who has leased the property for over 20 years along with Annie O’Connor with Thalhimer’s retail leasing team also assisted in the sale.

“Proven grocery-anchored product with service-oriented small shop users continues to remain in favor with investors. With stable in-place cash flow, at or below market rents in Richmond’s thriving Northwest Retail Quadrant, Staples Mill Plaza generated significant interest and was no exception with respect to creating a competitive offer process”, said Spangler

Situated at the signalized, high-traffic intersection of Staples Mill and Hungry Spring Roads, the shopping center boasts ideal visibility and access. The center was 94.3% leased at the time of the sale to a dynamic mix of regional and national tenants. Food Lion has occupied their space at the property since 1986.

For Further Information Contact:
Catharine M. Spangler
Senior Vice President, Capital Markets Group
+1 804 344 7140
catharine.spangler@thalhimer.com

About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, Virginia. The company has nearly 100 broker professionals and employs approximately 530 associates. Thalhimer represents, on behalf of its clients, a property portfolio of 54 million leasable square feet, management of more than 28 million square feet of commercial property, and nearly 12,000 multifamily units. In 2024, Thalhimer completed over 1,800 transactions with a transactional volume of more than $1.96 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services, including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties

Thalhimer’s Capital Markets Group is the region’s leading investment sales team made up of professionals focused solely on capital markets and the sale of income producing properties throughout Virginia. The team is experienced in office, industrial, retail and multi-family dispositions and since 2012 has completed 424 transactions totaling over $6.2 billion and over 66 million square feet.
To learn more, visit www.thalhimer.com.
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
-END-