It didn’t take long for one of the last remaining developable parcels with Broad Street frontage in Short Pump to find a suitor.
Members of the Anne McGeorge Clements Family LP have placed 12 acres under contract near the GreenGate development.
The property at 12120 W. Broad St. is under contract to be sold, said Bernard Clements, who is overseeing his family’s sale of the property.
The property was listed last month for $8.5 million and went under contract Aug. 4 – the birthday of the family’s late matriarch Anne McGeorge. Broker Mark Douglas of Cushman & Wakefield | Thalhimer represents the family.
Clements would not disclose the identity of the potential buyer or the property’s final price tag. He said the purchaser is a real estate firm with offices from New York to Florida that has developed property in the metro Richmond market.
If the deal closes, Clements said, the site would become a mixed-use project with West Broad Street-fronting pad sites for lease or for sale near the intersection with North Gayton Road.
“The buyer is pleased to have secured the last large available remaining parcel in the Short Pump market and have exciting plans for the development of the site,” Clements said.
The only other large developable tract in that stretch of Short Pump is 23 acres across the street at 12401 W. Broad St., which is under contract to be purchased by Atlanta-based Core Property Capital. The company plans a mixed-use development, which would be its first Virginia retail project.
Alicia Farrell, a broker with Cushman & Wakefield | Thalhimer who’s marketing and pre-leasing the Core Property development with Connie Jordan Nielsen and John Nielsen, said plans call for seven pad sites that mostly front West Broad Street. She said the land also may lend itself to big box retail spaces and an age-restricted housing development.
An 8-acre plot at 12341 W. Broad St. also remains bare, but is slated for a Hampton Inn & Suites hotel at the hands of locally based Shamin Hotels.
Under construction nearby along Broad Street are GreenGate, a 75-acre mixed-use development; West Broad Marketplace, which sold this month for $74 million; and the Bon Secours-anchored Broad Hill Centre.