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[February 5, 2020]

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RockStep Capital (headquartered in Houston, Texas) as of November 12th, 2019, purchased New River Valley Mall, a 400,000+ square feet regional shopping mall located in Christiansburg, Virginia, from Farallon Capital. The property was first delivered in in 1988 but has been renovated numerous times since its inception including the most recent 2018 redevelopments. RockStep plans to immediately invest major capital into building improvements and will focus on bringing exciting new tenants to the mall. The mall has seen a myriad of retailers recently join the property including UTLA, Kirkland’s and HomeGoods among others. A variety of alternative use tenants have recently joined the property as well, including Planet Fitness and Wonder Universe, a children’s museum. The property is located at 782 New River Road near Peppers Ferry Road, and is less than 6 miles away from Blacksburg, home of Virginia Tech (34,000+ students). Tom Dobrowski of Newmark Knight Frank helped broker the deal, and RockStep Capital will take over leasing and management responsibilities.   

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