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Philips Edison
Link to past project
Client Description
Ashland Junction is a well-established, 141,701 square-foot neighborhood shopping center located in Ashland, Virginia, roughly 18 miles outside of Richmond. The multi-tenant property, built in 1989, provides a necessity-based retail mix that draws traffic from both the surrounding community and its proximity to major institutions like Randolph Macon College and Interstate 95.
The center, which was managed by Phillips Edison & Company before being sold in 2021, is anchored by Roses, a regional discount retailer, alongside national tenants such as CVS/pharmacy, Sherwin Williams, and Anytime Fitness. The presence of a substantial vacant anchor space (a former Food Lion grocery box) and additional available spaces, including second-generation restaurant build-outs and outparcels, highlights the center's potential for future redevelopment or remerchandising.
Ashland Junction benefits from excellent visibility and multiple points of ingress and egress from US 1/Washington Highway. This established footprint and ongoing retail activity in a strong suburban market make the shopping center a key commercial property in Hanover County, representing a common type of retail asset found in construction and commercial real estate portfolios.
The center, which was managed by Phillips Edison & Company before being sold in 2021, is anchored by Roses, a regional discount retailer, alongside national tenants such as CVS/pharmacy, Sherwin Williams, and Anytime Fitness. The presence of a substantial vacant anchor space (a former Food Lion grocery box) and additional available spaces, including second-generation restaurant build-outs and outparcels, highlights the center's potential for future redevelopment or remerchandising.
Ashland Junction benefits from excellent visibility and multiple points of ingress and egress from US 1/Washington Highway. This established footprint and ongoing retail activity in a strong suburban market make the shopping center a key commercial property in Hanover County, representing a common type of retail asset found in construction and commercial real estate portfolios.