Oxbridge Square is a 128,000 square foot shopping center anchored by Martin’s Food Market inRichmond, VA. The asset is located at the intersection of U.S. Route 360 / Hull Street Road with traffic counts of 40,000 vehicles per day and Courthouse Road with traffic counts of 30,000 vehicles per day. The area demographics were strong with 48,000 people with an average household income of $84,000 that reside within a 3 mile radius.
PMAT bought the property in 2011 and negotiated a letter of intent with Martin’s to provide anew expanded 55,000 square foot prototype store. PMAT also completed a renovation of this center including the upgrade to a contemporary stucco façade with modernized columns and color scheme, parking lot improvements, upgraded site lighting, landscaping, and new pylon signage. Additionally, PMAT brought Youfit to the center to further help stabilize this asset.