WILLIAMSBURG – Broad Street Realty, Inc. recently announced the acquisition of Midtown Row, located in Williamsburg.
Broad Street Realty, Inc., which is considered a self-managed, fully integrated public real estate company based in Bethesda, Maryland, acquired the mixed-use property for $122 million. Midtown Row comprises a gross leasable area of 63,573 square feet comprising housing and retail.
According to a statement issued by Broad Street Reality, Inc., the acquisition is subject to customary closing conditions. It should be noted that there can be no guarantee that these specific conditions will be met or that Broad Street Realty will complete the acquisition of Midtown Row on these conditions. However, the acquisition is expected to be completed by the end of the second quarter of 2022.
“We are proud to further strengthen our commitment to Midtown Row and the Williamsburg area with this acquisition,” said Broad Street Realty Chairman and Chief Executive Officer Michael Z. Jacoby. “We’ve been the development manager for Midtown Row and we’ve also served as the property manager and leasing broker for the commercial side, so it’s been a really natural evolution.”
Midtown Row would be the fifth active property in Virginia and the sixteenth in the company’s portfolio, which includes properties in the Mid-Atlantic, Southeast and Denver (Colo.) markets.
The mixed-use community held its grand opening in September 2021, boasting that every apartment had been rented. Recently, Midtown Row announced the opening of several businesses, including Matchsticks BBQ, Insomnia Cookies, Tiny Textures Salon, and Row House. The community also announced events for 2022, including a Shredding Party on March 19 as well as the Chesapeake Bay Writers Book Parade, scheduled for March 26.
Visit the Midtown Row website for more information about this community. To learn more about Broad Street Realty, Inc., please visit the company’s website.