The Rebkee Co. buys tract in Short Pump and plans retail development
- May 31, 2011
A new 120,000-square-foot retail development will get underway in two weeks, across the street from Short Pump Town Center in Henrico County. The Rebkee Co. in Chesterfield County purchased the 41-acre tract known as The Corner at Short Pump from an affiliate of the White Hall Street Real Estate Fund in New York. The deal included 85,000 square feet of pre-leased tenants. “The proximity to the mall and having Kroger as an anchor is a huge benefit to the project,” said Dan Hargett, a principal with Rebkee.
Currently, the 92,000-square-foot Kroger is the only tenant at the site at West Broad Street and Lauderdale Drive. Hargett said the grocery store generates 30,000 customer visits per week. The pre-leased deals will bring a Toys “R” Us/Babies “R” Us combination store, a Bassett Furniture store, Olive Garden restaurant and Select Comfort, a bed and mattress store.
Construction is expected to begin in early June with L.F. Jennings in Northern Virginia serving as the general contractor. Hargett expects construction to take 18 to 24 months. In addition to retail, the site includes 12 acres zoned for residential development. “Residential will be a second phase,” Hargett said. “We’re not sure yet what we’ll do with that.”
The Rebkee Co. has acquired or developed more than 4 million square feet of commercial space, including The Shoppes at Westchester in Chesterfield and Willow Lawn Plaza in Henrico County.