Laburnum Park
Richmond, VA Shopping Center

Property Snapshot | 61,060 SF neighborhood shopping center located at the hard corner of South Laburnum Avenue and Gay Avenue in Richmond, VA.

Acquired: 5/16/2025

Laburnum Park is a multi-tenant retail center located in Richmond, Virginia, positioned along a high-traffic corridor with visibility to more than 36,000 vehicles per day. The property serves a densely populated trade area and benefits from strong accessibility and established surrounding retail activity.

The center is leased to a mix of discount, medical, restaurant, and service-oriented tenants, including DaVita, Dollar Tree, and an outparcel occupied by Atlantic Union Bank. The tenant mix provides a combination of daily-needs retail and service uses that support consistent traffic and long-term demand within the corridor.

Criterion acquired the property as part of its strategy of targeting well-located neighborhood retail centers with stable in-place cash flow and long-term operational upside. The center’s strong visibility, diversified tenancy, and established location within the Richmond market provide opportunities for continued income growth through active leasing and disciplined asset management.

Laburnum Park reflects Criterion’s investment approach of acquiring necessity-based retail properties supported by durable tenant demand, strong underlying real estate fundamentals, and long-term neighborhood retail relevance.