Heidenberg Properties Acquires Shopping Center in Culpeper, Virginia from Regency Centers for $32.7 Million

Culpeper Colonnade’s anchors include Dick’s Sporting Goods, Martin’s Food Market and PetSmart. Target shadow anchors the fully leased shopping center. Culpeper Colonnade’s anchors include Dick’s Sporting Goods, Martin’s Food Market and PetSmart. Target shadow anchors the fully leased shopping center.

Culpeper, Va. — Heidenberg Properties Group (HPG) has acquired Culpeper Colonnade in Culpeper, located midway between Charlottesville and Washington, D.C.

HPG bought the property from Regency Centers for $32.7 million. Martin’s Food Market, Dick’s Sporting Goods and PetSmart anchor the 307,000-square-foot shopping center. HPG plans to replace the center’s existing Staples location with a Michael’s store. The center, which is 100 percent occupied, also has Chick-fil-A, Panera Bread, Glory Days Grill, Chipotle Mexican Grill and IHOP as tenants. The property is shadow-anchored by a 127,000-square-foot Target. Since January 2017, Heidenberg Properties and its partners have acquired more than 900,000 square feet of retail.

More News