Bridge33 Capital Acquires 451,779-SF Grocery-Anchored 5th Street Station in Charlottesville; CBRE Arranges Sale from S.J. Collins Enterprises
Bridge33 Capital has acquired 5th Street Station, a 451,779-square-foot grocery-anchored open-air power center in Charlottesville, Virginia, from S.J. Collins Enterprises. CBRE arranged the sale; the purchase price was not disclosed.
Deal Details and Brokerage
The transaction was announced July 30, 2026. Chris Munley, Colin Behr, Ryan Sciullo, and Casey Smith of CBRE's National Retail Partners team represented S.J. Collins Enterprises on the sell side. The property is located at 300 5th Street Station Parkway, directly off Interstate 64, and benefits from traffic counts exceeding 60,000 vehicles per day.
"5th Street Station is a truly irreplaceable asset — a Wegmans-anchored, super-regional power center commanding the Charlottesville trade area," said Munley. "We congratulate Bridge33 on the most recent acquisition and thank them for their consummate professionalism and relentless execution in bringing this transaction to a successful close. We are grateful to the seller team for entrusting us with this incredibly unique opportunity and congratulate them on the successful disposition."
Property Profile and Tenant Mix
5th Street Station is anchored by Wegmans and features a mix of national, regional, and local tenants, including Dick's House of Sport, Alamo Drafthouse Cinema, PetSmart, Panera Bread, and Jersey Mike's. The open-air center sits just south of downtown Charlottesville with direct access from I-64 and proximity to the University of Virginia and UVA Health system.
Bridge33 Capital's Strategic Rationale
For Bridge33 Capital, the acquisition represents the firm's entry into Virginia and adds anchor diversity to its existing portfolio. "We are excited to enter Virginia with this dominant property in the growing market of Charlottesville," said Peter Trahanas, Director of Investments at Bridge33 Capital. "This acquisition will add the second Wegmans and the first Dick's House of Sport to our portfolio. We look forward to creating lasting value at the center and being a part of the Charlottesville community."
Bridge33 focuses on institutional-quality retail assets in secondary growth markets. The addition of a Wegmans anchor and a Dick's House of Sport concept reflects the firm's approach of building a portfolio around grocery and experiential tenants.
S.J. Collins Enterprises' Disposition and Market Context
S.J. Collins Enterprises, known for developing grocery-anchored and mixed-use retail centers across the Mid-Atlantic and Southeast, developed 5th Street Station as a purpose-built Wegmans-anchored project. The sale follows a pattern common among merchant-build developers: constructing and stabilizing an asset before exiting to institutional buyers once trade-area dominance is established, then recycling capital into new development pipelines.
Charlottesville's retail market benefits from the economic and demographic stability provided by the University of Virginia and UVA Health, which underpin grocery and service retail demand. The limited supply of competing super-regional centers in the immediate area further strengthens 5th Street Station's regional draw.
Grocery-anchored power centers have remained among the more sought-after retail formats for investors, given their focus on daily-needs traffic and the durability of grocery anchors through economic cycles. The presence of experiential tenants such as Alamo Drafthouse Cinema and Dick's House of Sport adds a destination dimension to the center's tenant mix.
CBRE Group, Inc. (NYSE: CBRE), headquartered in Dallas, is a Fortune 500 and S&P 500 company and the world's largest commercial real estate services and investment firm, with more than 155,000 employees serving clients in more than 100 countries.