The former Martin’s in Bermuda Square sold to Giant Food Stores for $13.7 million. (Mike Platania)
A local shopping center has been snatched up by the grocery giant whose role in a mega-merger last year left the property with a vacant anchor store and an unfinished big box site.
Supermarket chain Giant Food Stores last week purchased the Bermuda Square shopping center at the intersection of Jefferson Davis Highway and West Hundred Road in Chester.
The Maryland-based firm – the umbrella company under which Martin’s Food Markets has operated – paid $13.7 million for the seven-building retail center. The 15-acre site includes the former Martin’s box at 12601 Jefferson Davis Highway and an incomplete outparcel that was slated to hold a larger Martin’s store.
The deal closed Oct. 2. An entity tied to Ohio-based real estate firm DDR Corp. was the seller. It had owned Bermuda Square since 2003.
Giant’s plans for the shopping center are unclear. Representatives of Giant and its European parent company Ahold Delhaize did not respond to questions about the deal by press time. DDR also did not return calls for comment.
The Bermuda Square Martin’s store closed Aug. 2 as a result of the merger that created Ahold Delhaize. Anti-trust concerns forced 19 Richmond-area Martin’s stores to close, 10 of which were taken over by competitor Publix. The Bermuda Square store was not on Publix’s list.
Giant has 169 stores throughout Virginia, Maryland, Delaware and D.C., five of which are in Fredericksburg. There are no Giant-brand stores in the Richmond market.
Prior to selling the property to Giant and before the Ahold Delhaize deal, DDR announced a $17 million redevelopment plan for Bermuda Square, which would relocate the Martin’s to a new 66,000-square-foot store on the western end. Site work on the new outparcel ceased in mid-2016, according to local news reports.
Other shops in Bermuda Square include Petco, Top’s China Restaurant, California Nails, Manchester Cleaners, Gabe’s Barber Shop and more.
DDR still owns three Henrico shopping centers in Downtown Short Pump, White Oak Village and Creeks at Virginia Centre, as well as Commonwealth Center in Chesterfield.
The former Martin’s in Bermuda Square sold to Giant Food Stores for $13.7 million. (Mike Platania)
A local shopping center has been snatched up by the grocery giant whose role in a mega-merger last year left the property with a vacant anchor store and an unfinished big box site.
Supermarket chain Giant Food Stores last week purchased the Bermuda Square shopping center at the intersection of Jefferson Davis Highway and West Hundred Road in Chester.
The Maryland-based firm – the umbrella company under which Martin’s Food Markets has operated – paid $13.7 million for the seven-building retail center. The 15-acre site includes the former Martin’s box at 12601 Jefferson Davis Highway and an incomplete outparcel that was slated to hold a larger Martin’s store.
The deal closed Oct. 2. An entity tied to Ohio-based real estate firm DDR Corp. was the seller. It had owned Bermuda Square since 2003.
Giant’s plans for the shopping center are unclear. Representatives of Giant and its European parent company Ahold Delhaize did not respond to questions about the deal by press time. DDR also did not return calls for comment.
The Bermuda Square Martin’s store closed Aug. 2 as a result of the merger that created Ahold Delhaize. Anti-trust concerns forced 19 Richmond-area Martin’s stores to close, 10 of which were taken over by competitor Publix. The Bermuda Square store was not on Publix’s list.
Giant has 169 stores throughout Virginia, Maryland, Delaware and D.C., five of which are in Fredericksburg. There are no Giant-brand stores in the Richmond market.
Prior to selling the property to Giant and before the Ahold Delhaize deal, DDR announced a $17 million redevelopment plan for Bermuda Square, which would relocate the Martin’s to a new 66,000-square-foot store on the western end. Site work on the new outparcel ceased in mid-2016, according to local news reports.
Other shops in Bermuda Square include Petco, Top’s China Restaurant, California Nails, Manchester Cleaners, Gabe’s Barber Shop and more.
DDR still owns three Henrico shopping centers in Downtown Short Pump, White Oak Village and Creeks at Virginia Centre, as well as Commonwealth Center in Chesterfield.
Seems pretty obvious. They will relocate Food Lion from a B- site to an A+ site.
[…] Food Stores purchased the 15-acre shopping center at 12601 Jefferson Davis Highway on Oct. […]