After dropping nearly $14 million to purchase the Bermuda Square shopping center in Chester this month, the parent company of Martin’s grocery stores is weighing its options for a vacant big box space and unfinished pad site.
Giant Food Stores purchased the 15-acre shopping center at 12601 Jefferson Davis Highway on Oct. 2.
The deal closed two months after the final Martin’s stores in the Richmond region closed, including one in Bermuda Square. The property includes the former Martin’s shell and an incomplete pad that originally was slated to be a larger Martin’s store.
One thing is certain for Bermuda Square, according to Cushman & Wakefield broker David Crawford, the listing agent for the center: Neither a Giant nor a Martin’s store will be moving in.
Crawford, who is handling leasing with colleague Peter Waldbauer, said Giant would be open to another grocery store tenant. He said they’re also courting hotels, restaurants, fitness centers and other prospective tenants in Bermuda Square’s unfinished pad.
The plot was left in flux last year due to the merger that formed Ahold Delhaize, combining the parent companies of Giant, Martin’s and Food Lion. Antitrust concerns forced the sale or closure of 19 Martin’s stores in Richmond. Ten of those were purchased by Publix. The remaining stores, including the Bermuda Square Martin’s, were shuttered.