Press Releases
Marcus & Millichap Brokers $3.75M Sale of Fully Occupied Shopping Center in Richmond Suburb
June 30, 2026
MECHANICSVILLE, Va., June 30, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Stonewall Square, a fully occupied retail center in Mechanicsville, Virginia, a suburb of Richmond. The asset sold for $3.75 million.
“The sale of Stonewall Square reflects investor interest in well-located suburban retail strips, as private investors continue to pursue these assets despite broader economic debate,” said Chase Hensen, associate investments in Marcus & Millichap’s Washington, D.C. office. “Stonewall Square sits in the middle of a rapidly expanding retail corridor and is anchored by daily needs and service-oriented tenants that drive traffic. These are the types of spaces that stay leased. The combination of in-place cash flow and future leasing confidence ultimately created a highly competitive process and a great outcome for our client.”
Hensen, Dean Zang and David Crotts of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Stonewall Square is located at 6300 Mechanicsville Turnpike. The 15,922-square-foot retail center sits on a 2.13-acre lot and was built in 2008. The property has seven units and was fully occupied at the time of sale. Tenants include Firehouse Subs, Benchmark Physical Therapy, a Thai restaurant and other local businesses.
The property is surrounded by retailers and restaurants, including a $40 million, 123,000-square-foot Kroger expansion. It is near Interstates 295 and 95, providing access to downtown Richmond and the surrounding region.
“The sale of Stonewall Square reflects investor interest in well-located suburban retail strips, as private investors continue to pursue these assets despite broader economic debate,” said Chase Hensen, associate investments in Marcus & Millichap’s Washington, D.C. office. “Stonewall Square sits in the middle of a rapidly expanding retail corridor and is anchored by daily needs and service-oriented tenants that drive traffic. These are the types of spaces that stay leased. The combination of in-place cash flow and future leasing confidence ultimately created a highly competitive process and a great outcome for our client.”
Hensen, Dean Zang and David Crotts of Marcus & Millichap exclusively marketed the property on behalf of the seller.
Stonewall Square is located at 6300 Mechanicsville Turnpike. The 15,922-square-foot retail center sits on a 2.13-acre lot and was built in 2008. The property has seven units and was fully occupied at the time of sale. Tenants include Firehouse Subs, Benchmark Physical Therapy, a Thai restaurant and other local businesses.
The property is surrounded by retailers and restaurants, including a $40 million, 123,000-square-foot Kroger expansion. It is near Interstates 295 and 95, providing access to downtown Richmond and the surrounding region.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
