September 6, 2024

Cove Collective Co. Now Operational At Gayton Crossing

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I95 Business
Gayton Crossing

RICHMOND, VA (September 6, 2024) – Cove Collective Co., a hair salon specializing in cutting, coloring, styling, and extensions, recently opened a location at Gayton Crossing, a more than 160,000 square foot shopping center located at 9782 Gayton Road in Richmond’s West End area. Owner Britney Blowers signed a lease with Continental Realty Corporation (CRC), a Baltimore-based real estate investment and management company which acquired the asset this spring, representing the company’s entry into the Richmond-area retail market.

Cove Collective Co. offers a full suite of services ranging from customized hair cutting and styling to root touchup work, keratin treatments, color shifting and multi-layered extensions. Blowers, who previously worked as an independent contractor for the hair salon Hive Salon Studios in Short Pump, VA, has been a solo practitioner since 2020.

“Gayton Crossing was the natural next step for my business, especially since I assumed a space formerly operated by a hair salon, so it required minimal changes to suit my needs,” Blowers explained. “The space has room to grow, the center is always extremely busy, and it is close to my previous location, so my current clients can easily migrate over.”

Delivered in 1981 and situated at the signalized intersection of Gaskins and Quioccasin roads in Henrico County, Gayton Crossing is shadow-anchored by the national supermarket chain Kroger and features more than 30 restaurants and retailers occupying inline spaces and five free-standing pad sites. Representative tenants include Bank of America, GOLD’S Gym, Goldfish Swim School, Jos. A. Bank, KidStrong, Starbucks Coffee, Virginia ABC store and The UPS Store. The property contains eight means of ingress and egress and is surrounded by a free surface parking lot suitable for nearly 700 vehicles.

“Cove Collective represents the first new lease signed at Gayton Crossing since our acquisition of the center this spring, and this transaction demonstrates CRC’s commitment to attracting and supporting local entrepreneurs,” stated Kristina O’Keefe, Vice President of CRC’s Commercial Division. “Bringing passionate and energetic operators such as Britney Blowers to the center adds vibrancy and exemplifies our mission to showcase Gayton Crossing as a location where small businesses can thrive. The concept is the perfect complement to the current tenant mix featuring a strong mix of national and locally-owned retailers and restaurants.”

More than 100,000 people reside within a five-mile radius of Gayton Crossing, including more than 75,000 households with an average household income exceeding $135,000. In addition, the daytime population within this same radius is nearly 235,000.

The median home value in Richmond’s West End is $520,000, and the existing residential pipeline is expected to add more than 1,500 homes within a five-mile radius of Gayton Crossing. Household incomes are projected to increase by more than 11 percent within a three-mile radius over the next five years.

The University of Richmond, with approximately 4,000 students, is situated in West End and Virginia Commonwealth University (VCU), with its additional 30,000 undergraduates, is located approximately 10 miles from Gayton Crossing. Richmond’s central business district is 14 miles from the site and Richmond International Airport is 22 miles away.

Headquartered in Baltimore, Maryland and founded in 1960, Continental Realty Corporation is a full-service commercial real estate and investment company focused on acquiring and operating retail and multifamily properties. The privately held firm owns and manages a diversified portfolio of retail centers consisting of nearly eight million square feet of commercial space and over 9,000 apartment homes across 11 states, with a portfolio value exceeding $4 billion. For additional information, visit www.crcrealty.com.