Charlottesville, Va. — O’Connor Capital Partners has acquired The Shops at Stonefield in downtown Charlottesville, near the University of Virginia, for $121.1 million.
The 265,000-square-foot lifestyle shopping center is located at the intersection of Hydraulic Road and Route 29. The Shops at Stonefield was nearly 90 percent leased at the time of sale to tenants such as Trader Joe’s, lululemon athletica, Vineyard Vines, Pottery Barn, Williams-Sonoma, Brooks Brothers, Orvis, bluemercury and Regal Cinema.
The shopping center was built in two phases in 2013 and 2016 and features a Costco, which was not part of the transaction. Concurrent with the acquisition, L.L. Bean has leased 15,000 square feet at the center with plans to occupy the space this summer. O’Connor Capital purchased the asset from Edens. Peter Bergner of O’Connor Capital’s Palm Beach office will handle leasing for The Shops at Stonefield.
O’Connor Capital is an institutional real estate investment, management and development firm based in New York City. Edens develops, owns and operates community-oriented shopping places in primary markets across the country.