Long-Delayed Retail Project Advances in Glen Allen
- Jun 29, 2015
Years after it was originally eyed as the site of a supermarket, a parcel in Glen Allen is finally on track to get its long-awaited grocery store. Nuckols Place VFI L.C. recently bought the 15-acre parcel as the future home of a nearly 90,000-square-foot high-end retail center.
Nuckols Place VFI paid $8.1 million to buy the site at Nuckols and Twin Hickory Roads from Ukrop’s Super Markets Inc. Years ago, Ukrop’s intended to build a grocery store on the site, but it abandoned its plans after selling its stores to Royal Ahold, the owners of the Martin’s Food Markets chain, in 2010. That deal, however, did not include the 15-acre site.
The cost of the project, called NuckolsPlace, was not disclosed. Construction is expected to start in August, with the completion of the first phase scheduled for the spring of 2016. Nuckols Place VFI and its partners, the Peterson Cos. and Virginia Financial Investors, have selected Thalhimer to provide leasing services for the center.
Although the project represents Baltimore-based Peterson’s first foray into the Richmond market, the company is not new to Virginia. Peterson is also the developer of the Avonlea Town Center, a $70 million retail and office project in South Riding. That project won approval last month from the Loudoun County Board of Supervisors
Photo credit: Cushman & Wakefield | Thalhimer