Lidl Buys Land for Another NoVa Location
- Nov 22, 2016
Fredericksburg, Va.—Coldwell Banker Commercial has negotiated the sale of a 6.34-acre parcel in Fredericksburg to German grocery retailer Lidl. The company bought the land for $2.6 million. Brian Cunningham represented the seller and Jonathan Gardner assisted Lidl in brokering and negotiating the transaction.
The plot is situated on Route 17/Warrenton Road, immediately to the east of the Walmart Supercenter located at 11 Village Parkway and 4 miles northwest of Interstate 95. According to Property Shark data, the asset last changed hands in 1979, when Falmouth, Va.-based Lerose Properties acquired the property for $291,800. The land is currently occupied by a 4,509-square-foot building—located at 1183 Warrenton Road—which was completed in 1994. Stafford County’s most recent tax-purpose assessment estimates the property at roughly $1.4 million, a little over half of what Lidl paid.
This marks Lidl’s third buy in the Fredericksburg area, as the retailer is planning to enter the U.S. market through Virginia. The German company has also bought land in Richmond and the Hampton Roads area and is working on a 1 million-square-foot distribution facility in Spotsylvania County, as well as a $100 million regional headquarters/distribution facility in Cecil County, Md.
Image courtesy of Coldwell Banker Commercial