A German grocer is betting big on prime real estate near the Richmond-Henrico County line.
Lidl this month paid $3.4 million for the shuttered Colonial Downs off-track wagering center at 4700 W. Broad St., where it plans to build a new store.
Spokesman Will Harwood said the existing structure will be razed, though he would not disclose the construction timeline. Cushman & Wakefield | Thalhimer broker Richard Thalhimer represented the seller, Colonial Downs LP.
Lidl has had its eye on the 3.72-acre property since at least last year, when it filed preliminary plans with Henrico County to build a store on the site.
The property is one of at least seven locations Lidl has in the works around Richmond – part of a larger rollout of its first stores in the U.S.
Lidl plans to open its first 20 stores across Virginia, North Carolina and South Carolina this summer, and to hire 800 workers for Virginia stores.
Its other local sites are 11701 Iron Bridge Road and 1301 Mall Drive in Chesterfield County, and in Henrico County: 5110 S. Laburnum Ave., a site along Staples Mill Road and in the forthcoming GreenGate development in Short Pump. In September, Lidl closed on a 5.7-acre parcel in Chesterfield County at the southeast corner of Midlothian Turnpike and Charter Colony Parkway.