AmCap Completes Sale of $47 Million Grocery-Anchored Shopping Center in Virginia

STAMFORD, CT September 3, 2021 – AmCap Management, LLC, a leading vertically integrated private equity real estate firm, is pleased to announce the sale of Short Pump Station, a 91,369-square-foot, grocery-anchored, shopping center in the Richmond, Virginia suburb of Glen Allen.  The final sales price was $46,750,000. 

“Short Pump is one of the many outstanding grocery-anchored shopping centers within the AmCap portfolio,” said Jake Bisenius, AmCap’s President and CIO. “The property is anchored by one of the top-performing Trader-Joes, Ulta’s and Petco’s complemented by a diverse and robust group of tenants including Longhorn, Five Below and Chop’t. We are incredibly proud of the entire Short Pump/AmCap team for successfully executing the value-add business plan and creating an exceptionally profitable necessity real estate shopping center.  This 2010 acquisition is a perfect example of AmCap’s vision that grocery-anchored real-estate provides outsized returns to our investors in all market cycles.” 

Cushman & Wakefield’s John Owendoff led the sales effort on behalf of a joint venture between BayNorth Capital and AmCap Incorporated.  Michael Zelin and Marshall Scallan, also of Cushman & Wakefield, secured acquisition financing for the buyer, Wafra Inc., a global alternative investment manager.

“We saw significant interest from a deep and varied pool of capital sources for this high-quality retail offering. This is a great example of the migration of core, institutional capital returning to the retail sector,” said Owendoff. “Short Pump Station has a proven track record of strong performance and offers cash flow durability in a high-growth Mid-Atlantic market.”

About AmCap Necessity Retail Fund LLC

Founded in 1979, AmCap is a vertically integrated private equity real estate firm that invests and manages, grocery-anchored and necessity real estate properties nationwide.  AmCap’s 41-year history gives it unique insight into the drivers of value creation in all facets of the necessity real estate property industry. The Firm manages over $1 billion of assets on behalf of leading institutional investor and has a strong track record of performance, partnership and innovation. AmCap takes pride in investing in the necessities of life.

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About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit or follow @CushWake on Twitter.

About Wafra Inc.

Wafra Inc. is a global alternative investment manager.  Wafra manages assets and capital commitments of approximately $27 billion.  Wafra invests across a wide range of alternative assets, including real estate, real assets and infrastructure, private equity, strategic partnerships and liquid markets.  By providing flexible and accretive capital solutions and focusing on long-term partnerships, Wafra aligns and partners with best-in-class companies and management teams.  Headquartered in New York, Wafra and its affiliated and associated firms have additional offices in Austin, London, Kuwait and Bermuda. For more information, please visit