The shuttered Ruby Tuesday at 9830 W. Broad St. near Innsbrook was recently purchased to be the future site of a generator retail store. (BizSense file)
A former Ruby Tuesday property in Henrico County will be the future home of a generator retailer franchise, the first Virginia outpost of what will be a statewide expansion for the company.
R&D Joint Venture LLC dropped $1.9 million to buy the long-shuttered restaurant at 9830 W. Broad St. in a deal that closed early April. The 5,000-square-foot space is destined to become Generator Supercenter of Richmond, the first franchise of Generator Supercenter in the state.
The stores sell Generac brand standby generators, with 18 locations in Texas, Florida, Georgia, New Hampshire and North Carolina, according to its website.
The property most recently was assessed at $1.3 million, according to county property records. John Jay Schwartz of Have Site Will Travel represented the buyer. The seller, Leon Capital Group, was represented by Thalhimer’s Jim Ashby and Annie O’Connor.
Leon Capital Group bought the property from Morrison Restaurants for $2.3 million in August 2018 as part of a $4.3 million deal that included another Ruby Tuesday at 5310 W. Broad St. near Willow Lawn that also has been shuttered.
Clark Associates, a company tied to R&D Joint Venture LLC, will run the store and plans to open it in about six months. The Henrico site was picked for its high visibility in an appealing market, said Steve Monaghan, vice president of Clark Associates.
“We’re really happy because we believe Richmond will be a great market for us,” Monaghan said.
Monaghan anticipated another several hundred thousand dollars would be spent to complete the buildout of the space. He said 10 to 15 employees, working in roles such as salespeople and electricians, would be hired to staff the store.
The project architect is Baskervill, and the contractor is Emerald Construction.
Clark Associates has secured rights to operate Generator Supercenter stores in Virginia, and plans to open six to eight stores across the state in the next four years. The Henrico County location will be the first, and the company plans to round out its year-one openings with a location in Ashburn. In the coming years, Virginia Beach, Charlottesville and Roanoke could play host to subsequent stores.
Generac doesn’t have retail locations, and sells through third-parties such as Generator Supercenter. The local retail location will offer products for both residential and commercial customers, though it will focus on residential customers.
Clark Associates is also an installer for Invisible Fence, the pet containment company, in Virginia, with offices in Henrico, Chantilly and Salem. Clark Associates also does awning installations.
The shuttered Ruby Tuesday at 9830 W. Broad St. near Innsbrook was recently purchased to be the future site of a generator retail store. (BizSense file)
A former Ruby Tuesday property in Henrico County will be the future home of a generator retailer franchise, the first Virginia outpost of what will be a statewide expansion for the company.
R&D Joint Venture LLC dropped $1.9 million to buy the long-shuttered restaurant at 9830 W. Broad St. in a deal that closed early April. The 5,000-square-foot space is destined to become Generator Supercenter of Richmond, the first franchise of Generator Supercenter in the state.
The stores sell Generac brand standby generators, with 18 locations in Texas, Florida, Georgia, New Hampshire and North Carolina, according to its website.
The property most recently was assessed at $1.3 million, according to county property records. John Jay Schwartz of Have Site Will Travel represented the buyer. The seller, Leon Capital Group, was represented by Thalhimer’s Jim Ashby and Annie O’Connor.
Leon Capital Group bought the property from Morrison Restaurants for $2.3 million in August 2018 as part of a $4.3 million deal that included another Ruby Tuesday at 5310 W. Broad St. near Willow Lawn that also has been shuttered.
Clark Associates, a company tied to R&D Joint Venture LLC, will run the store and plans to open it in about six months. The Henrico site was picked for its high visibility in an appealing market, said Steve Monaghan, vice president of Clark Associates.
“We’re really happy because we believe Richmond will be a great market for us,” Monaghan said.
Monaghan anticipated another several hundred thousand dollars would be spent to complete the buildout of the space. He said 10 to 15 employees, working in roles such as salespeople and electricians, would be hired to staff the store.
The project architect is Baskervill, and the contractor is Emerald Construction.
Clark Associates has secured rights to operate Generator Supercenter stores in Virginia, and plans to open six to eight stores across the state in the next four years. The Henrico County location will be the first, and the company plans to round out its year-one openings with a location in Ashburn. In the coming years, Virginia Beach, Charlottesville and Roanoke could play host to subsequent stores.
Generac doesn’t have retail locations, and sells through third-parties such as Generator Supercenter. The local retail location will offer products for both residential and commercial customers, though it will focus on residential customers.
Clark Associates is also an installer for Invisible Fence, the pet containment company, in Virginia, with offices in Henrico, Chantilly and Salem. Clark Associates also does awning installations.
As the dust settles after the pandemic recedes there will be many additional retail properties that will be adaptively reused in a manner similar to the former Ruby Tuesday restaurant.
It would be interesting to hear what the advantage of generator superstore is compared to the regular routes of installing a generator, which isn’t all that hard by my lights.
Congratulations to John Jay on bringing Generator Supercenter to Richmond! We are grateful for you bringing Baskervill to this opportunity.