Less than a year after buying Chesterfield Towne Center, the mall’s owners have sold off the neighboring shopping plaza next door. This week, the Chesterfield Towne Center Plaza at 11304 Midlothian Turnpike, just east of the mall, sold for $11.5 million.
Richmond BizSense reporter Mike Platania first reported the sale, noting that the buyer, Ross Realty Investments, is a Florida-based firm that specializes in acquiring retail centers. The seller was a joint venture of JRE Partners and Anastacia AG, the New York and Switzerland-based firms that bought both the roughly 63,000-square-foot plaza and the larger mall together for $80 million in late 2025, as part of a package deal with the mall’s prior owner, Brookfield Properties.
Keeping the Mall, Selling the Plaza
The joint venture kept ownership of the mall itself while selling off the strip center, which sits on more than six acres and is occupied almost entirely by national chains, including Ross Dress for Less, Skechers, Five Below and Men’s Wearhouse. About 7,500 square feet remain vacant, with Thalhimer handling leasing. The $11.5 million sale price came in about $2 million over the property’s most recent county-assessed value of $9.5 million, a sign of how much investors are still willing to pay for well-leased retail along this stretch of Midlothian Turnpike.
A Repeat Buyer in the Richmond Market
Ross Realty is not new to the area. The firm entered the Richmond market in 2023 when it partnered with another Florida company to buy the nearby Village Marketplace Shopping Center for close to $20 million. According to BizSense’s reporting, Ross Realty’s senior vice president described Richmond as a “good, upper-middle-class market” the firm intends to keep targeting for deals.
What This Means for the Midlothian Corridor
For homeowners and buyers in and around Chesterfield County, a second out-of-state investor closing a deal on this corridor in under a year is a meaningfully different story than a single sale. It suggests institutional buyers still see durable demand in this submarket, even with some turbulence nearby: the mall lost its combination TJ Maxx and HomeGoods store a few months after the mall itself changed hands, with that tenant relocating a few miles down Midlothian Turnpike. The mall’s new management has said it is exploring a future redevelopment of the property, though no specifics have been released.
That combination, continued investor appetite for the plaza alongside open questions about the mall’s own future, is worth watching if you own a home near this corridor or are considering one. Retail investment of this scale tends to support nearby residential demand even through a tenant shuffle, and similar patterns have played out in other fast-growing pockets of the region, including Henrico County, where retail and residential growth have moved in tandem for years. If a mall redevelopment does eventually move forward, it could reshape what this part of Chesterfield looks like for the next decade.
Considering a Move Near Chesterfield Towne Center?
If you own a home near this corridor and are curious what a season of steady retail investment has done for your property’s value, start with a free home valuation. If you are thinking about listing, our Sell With Us page walks through how our team prices and markets homes in this part of Chesterfield. It is also worth noting this corridor sits within easy reach of the airport side of the region, a factor we detailed in our guide to Richmond neighborhoods with a short drive to the airport, and not far from the new Bon Secours emergency center on Iron Bridge Road that we covered separately.
Ready to browse what is actually for sale nearby? Search current Chesterfield County listings and see what is on the market today.
Frequently Asked Questions
What sold at Chesterfield Towne Center this week?
The Chesterfield Towne Center Plaza, a roughly 63,000-square-foot shopping center at 11304 Midlothian Turnpike next to the mall, sold for $11.5 million.
Who bought the shopping plaza?
Ross Realty Investments, a Florida-based firm that focuses on acquiring retail centers, bought the plaza.
Who owned the plaza before this sale?
A joint venture of JRE Partners and Anastacia AG owned it. They bought the plaza together with Chesterfield Towne Center itself for $80 million in late 2025 as part of a package deal.
Did the same buyers sell the mall too?
No. JRE Partners and Anastacia AG kept ownership of Chesterfield Towne Center mall and sold only the neighboring plaza.
What stores are in the Chesterfield Towne Center Plaza?
The plaza is anchored by national retailers including Ross Dress for Less, Skechers, Five Below and Men’s Wearhouse, with about 7,500 square feet currently vacant.
Has Ross Realty bought other properties in the Richmond area?
Yes. Ross Realty entered the Richmond market in 2023 when it partnered with another Florida firm to buy the nearby Village Marketplace Shopping Center for close to $20 million.
What happened to the mall’s TJ Maxx and HomeGoods store?
The combination TJ Maxx and HomeGoods store relocated a few miles down Midlothian Turnpike a few months after the mall’s ownership changed hands in late 2025.
Is Chesterfield Towne Center itself being redeveloped?
The mall’s management has said it is exploring a possible future redevelopment, but no specific plans have been disclosed yet.
Written by the Mission Realty Team — meet the team. Real Broker LLC, 3701 Cox Rd, Richmond, VA 23233. (804) 601-4960.
