Premier Has a New Project

Premier is pleased to announce that it has closed on the purchase of 20,000 sf of retail in the upscale West Broad Village Town Center development in Richmond’s West End.   The property was purchased from Markel / Eagle Partners.  Premier sourced this investment for the partners, who were exchanging from the sale of a residential development parcel in Washington DC (also handled by Premier).   Premier worked with the seller through some complicated tenancy issues, with the result being a successful transaction for the seller and an above market return for the purchasers.  Jonathan Cutler of Premier is also an investor in the transaction.  Premier Management Services, an Accredited Management Organization under IREM, will manage the property for the investment group.  Josh Ein of Marcus and Millichap was the broker in the transaction.  Financing was provide by Ohio National Life and sourced through Keith Wells of Northmarq.