Edens sells center near University of Virginia

O’Connor Capital Partners has acquired The Shops at Stonefield in Charlottesville, Virginia, from Edens for $121 million.



The 231,761-sq.-ft. Town Center portion of the property, which is two miles from the campus of the University of Virginia, opened in 2013. A 33,422-sq.-ft. Northside portion was completed in 2016. Key Tenants include Trader Joe’s, Regal Cinema, Pottery Barn, Brooks Brothers, and Bluemercury.



O’Connor Capital CEO Bill O’Connor plans to make some improvements to the property and to add some first-in-market tenants.



“The modern architecture and intimate outdoor environment provide a vibrant urban destination that attracts the top retailers in the market. There is significant upside potential through lease-up of the available space,” O’Connor said.



O’Connor reported that L.L. Bean has committed to a 15,000-sq.-ft. space at Stonefield, which is currently 90% leased.

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