The Morgan Companies Acquires Prime Retail Property in Richmond, VA

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Richmond, VA – June 18, 2025 – The Morgan Companies is pleased to announce its recent acquisition of the property located at 11500 W Broad Street in Henrico County (Greater Richmond), Virginia. The property contains a ±12,100 square foot former Walgreens building and sits on ±1.604 acres at the signalized intersection of West Broad Street and Pouncey Tract Road—one of Richmond’s most vibrant and rapidly growing retail corridors.

Strategically positioned at the signalized intersection of West Broad Street and Pouncey Tract Road, the property benefits from exceptional visibility and access in one of Richmond’s premier retail destinations. Located just minutes from Short Pump Town Center—a dominant regional shopping hub—the site is surrounded by national retailers, restaurants, and high-income residential neighborhoods. The area boasts strong traffic counts (±35,000 AADT on W Broad and ±12,000 AADT on Pouncey Tract), proximity to I-64, and established daytime and evening traffic from both commuters and shoppers. This section of the West Broad corridor has experienced consistent growth and remains one of the most sought-after retail submarkets in Central Virginia.

The Morgan Companies closed on the property on June 2, 2025. Walgreen Co., an Illinois corporation, was the Seller. While no redevelopment plans are being announced at this time, the company is actively seeking new tenants for the space and welcomes inquiries from prospective retailers and other commercial users.

“This is a marquee intersection in the Richmond market with strong demographics and sustained retail demand,” said a representative of The Morgan Companies. “We’re excited to be part of the Henrico community again and are looking forward to bringing new retail energy to the property.”

For more information about The Morgan Companies and its real estate development and investment platform, please visit www.themorgancompanies.com.

Media/Leasing Contact:
info@themorgancompanies.com
The Morgan Companies
www.themorgancompanies.com

About The Morgan Companies

The Morgan Companies is a leading real estate development firm with over four decades of experience in creating high-quality commercial properties. With a diverse portfolio spanning retail, office, and medical sectors, The Morgan Companies continues to build and manage properties that enhance communities and provide value to tenants and investors alike. For more information, please visit www.themorgancos.com.