The Richmond Retail market saw a handful of big box activity during the second quarter. Burlington Coat Factory and Tuesday Morning have leased space at Hancock Village in Chesterfield, while AC Moore has signed on for just over 20,000 SF in West Broad Marketplace. Two former Martin's supermarkets have found new tenants: Hobby Lobby will open at Hanover Square Shopping Center, and Goldfish Swim School will take one third of the old Martin's space at Gayton Crossing Center. The region’s second New Grand Mart international grocery store is planned to take over the Food Lion space at West Broad Commons.
Large shopping center sales have also been a trend of the second quarter, with the sales of: Chesterfield Crossing to the Peterson Companies; West Broad Marketplace to MCP West Broad Marketplace, an entity tied to Washington, D.C.-based MetLife Real Estate Investors; and The Shops at Arboretum, which sold to Mishorim Gold Richmond LP, a private equity fund out of Newport News.
In the Near West End, joint owners Thalhimer and Rebkee have received approval from Henrico County to begin work on the $30 million dollar renovation of Regency Square Mall. As part of the redesign, Regal Cinemas will replace Macy's as one of the mall anchors.