Ross Realty Purchased Chesterfield Plaza for $11.5 Million
The firm acquired the 63,000-square-foot strip center from JRE Partners and Anastacia AG.
Updated on Sept. 25, 2026 in Commercial
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Ross Realty Investments has closed on the purchase of the Chesterfield Towne Center Plaza for $11.5 million. The deal separates the strip center from the neighboring mall, which remains under the ownership of sellers JRE Partners and Anastacia AG.
Why it matters
The acquisition marks a strategic expansion for Ross Realty Investments, which has been eyeing the property since 2024. The firm continues to grow its Richmond-area footprint following its initial entry into the market in 2023.
The property spans 63,000 square feet and carries a recent county assessment of $9.5 million. The site currently includes 7,500 square feet of vacant retail space.
The players
Ross Realty Investments
An investment firm based in Florida that manages a retail portfolio totaling 1.5 million square feet.
JRE Partners
A commercial real estate investment firm that previously held joint ownership of the plaza.
Anastacia AG
A commercial real estate entity that participated as a joint venture partner in the previous ownership group.
The details
The transaction at 11304 Midlothian Turnpike follows a larger 2025 deal where the previous owners acquired the mall and plaza together for $80 million. Ross Realty Investments now holds the strip center independently while the mall’s previous owners maintain their stake in the primary shopping center.
Timeline
Ross Realty entered the Richmond market in 2023.
Ross Realty began monitoring the plaza in 2024.
JRE and Anastacia purchased the mall and plaza in late 2025.
The transaction closed on Sept. 22, 2026.
Roadmap
This transaction reflects the trend of retail property decoupling in the Richmond commercial real estate market by separating a plaza from its anchor mall asset. By focusing on specific strip center acquisitions, the buyer continues to build its portfolio against larger mall owners.
Shoppers at the plaza may see changes to property management or tenant updates as the new owner takes control of the vacant square footage. The deal does not impact the operation or ownership status of the neighboring Chesterfield Towne Center mall.
The takeaway
The deal illustrates the ongoing consolidation of smaller retail assets in the Richmond area by specialized firms. Property owners looking for similar investments often monitor assessment gaps to identify potential acquisition targets.
Further reading
For more on the local market, read our Richmond Commercial analysis.
Source note: This article includes information reported by Richmond BizSense.
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Does frequent ownership change at local shopping centers worry you about your community's retail future?
