NEW YORK, January 7, 2024-Wafra Inc. (“Wafra”) today announced the sale of Short Pump Station, a 91,369 square foot shopping center in the suburbs of Richmond, VA, to Nuveen Real Estate, a global investment management firm. Wafra had owned the property since acquiring it from a joint-venture affiliate of AMCap in 2021.

Located in the heart of Richmond’s most dominant submarket and with grocery retailer Trader Joe’s as its anchor tenant, Short Pump Station attracts 2.3 million annual visits, putting it in the top 15% of shopping centers nationally. Its other major tenants include Ulta and Petco.

“The Short Pump investment resulted in an excellent outcome for our investors,” said David Hamm, Head of Real Estate at Wafra. “Given its prime location and strong local appeal, I am confident this highly attractive retail destination will continue to thrive under its new ownership.”

“Short Pump Station aligns perfectly with our grocery-anchored neighborhood retail strategy, in the growing and dynamic Short Pump submarket.” said Ryan Boan, U.S. Head of Retail Transactions at Nuveen Real Estate. “Short Pump Station is our second acquisition in the Richmond MSA.”

The sale represents the first realization from Wafra’s core plus vehicle, which launched in 2021. Wafra was advised on the sale by a Cushman & Wakefield team led by John Owendoff.

About Wafra

Wafra is a global alternative investment manager with approximately $30 billion of assets under management across a range of alternative assets, including strategic partnerships, real estate, and real assets. By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with high quality asset owners, companies, and management teams. Headquartered in New York, Wafra has additional offices
in London and Bermuda. For more information, please visit www.wafra.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

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