Two national retailers coming to Chester shopping center as anchor tenants

Bermuda Square shopping center in Chesterfield County is getting two new anchor tenants.

Burlington, the off-price clothing and home décor products retailer, plans to take over the former Martin’s Food Markets anchor space at the shopping center. That 34,700-square-foot space has been vacant since Martin's closed it in August 2017 as the chain exited the market.

Arts and crafts supplies retailer Hobby Lobby plans to build a 50,000-square-foot store on part of a 6-acre pad site on the southern part of the property. Martin’s had announced in 2015 plans to replace its store in that shopping center with a new 66,500-square-foot supermarket on that pad site but the new store never materialized.

In addition to those two anchor tenants, a 1,668-square-foot Valvoline store is under construction.

The new stores are slated to open later this year, according to GBT Realty Corp., the Brentwood, Tenn.-based commercial development and investment company that owns the shopping center.

“Once these retailers open by the end of the year, the shopping center will be 100% leased,” said Alan J. Lloyd, GBT Realty's senior vice president of leasing.

GBT Realty acquired the 84,000-square-foot shopping center at Jefferson Davis Highway and West Hundred Road in Chester for $18.6 million in late November.

“When we acquired Bermuda Square in November, we set a goal of 100 percent occupancy within a year,” Lloyd said. “We are excited to add these great concepts to our project and to take a major step toward the execution of our redevelopment strategy."

All that is left to be developed at the shopping smaller is a roughly 1-acre site along Jefferson Davis Highway in front of the Hobby Lobby for outparcel retail space.

Tenants at the 14.65-acre shopping center include Petco, Starbucks, Chipotle, SunTrust, Mattress Firm and Virginia ABC.

The Burlington store at Bermuda Square will be the chain's seventh Richmond-area location. Hobby Lobby has three other stores in the Richmond region.


CLICK FOR SOURCE