$8M deal gives homebuilder control of Chesterfield County shopping center for redevelopment

Posted at 6:37 AM, Nov 21, 2023
and last updated 2023-11-21 06:37:42-05

RICHMOND, Va. -- Stanley Martin Homes has scooped up the rest of the land needed for its residential project to replace an aging shopping center in Chesterfield.

The Reston-based homebuilder paid $8.1 million to purchase the bulk of Rockwood Square shopping center at the corner of Hull Street and Courthouse roads.

It bought the 12.4-acre site from an entity tied to Gary Modjeska of Maryland-based Area Properties LLC last week. Read Goode of Divaris Real Estate, who represented Stanley Martin in the deal, confirmed the sale Monday.

The acreage, comprising five parcels including 10165 Hull Street Road, consists of the center’s main retail strip and parking areas. The center’s outparcels, where companies like Starbucks and McDonald’s have outposts, weren’t part of the deal.

Continue reading this story on Richmond BizSense.

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