JLL will market large infill tract near Bon Air in Chesterfield County
- July 9, 2014
JLL has been hired to market Parkway Crossings at Bon Air, a nearly 170-acre infill tract located at a key intersection in Chesterfield County.
The property is situated at the intersection of Chippenham (VA-150) and Powhite (VA-76) parkways, about eight miles southwest of Richmond's central business district in suburban Bon Air.
The large tract is adjacent to several major medical and retail projects, including the 1.4 million-square-foot Boulders Office Park, HCA’s 466-bed Chippenham Hospital, the 100-acre Powhite Park, Chippenham Forest Square and The Shops at Stratford Hills shopping center. It is owned by HMK LLC and is part of the holdings of Jonathan Perel, a Richmond resident and owner of the General Service Corp. property management firm. Perel has tried to develop the tract before, but ran into objections from residents in the nearby Crestwood Farms subdivision who raised concerns that a new road network would impact the area's wetlands and their home values.
According to JLL, the property can be used for mixed-use development, with substantial density in retail, office, hospitality, health-care and residential uses, providing large-scale developers with an opportunity to bring multiple uses to the region at a singular location.
“This site is an important, visible and entitled in-fill opportunity with attractive features, demographics and accessibility that support a variety of uses. Richmond has embraced the national trend of mixed-use development … We expect strong, widespread interest from developers,” JLL’s Gareth Jones, a senior associate, said in a statement.
Parkway Crossings at Bon Air is divided into three parcels. The largest one is 106 acres to the north of Powhite Parkway and fronting Chippenham Parkway. A second 50-acre parcel fronts Chippenham Parkway south of Powhite Parkway, and is bounded by Jahnke Road. The third parcel consists of the two remaining tracts — 11 and five acres, respectively — at either side of the entrance to the Boulders Office Park at Boulders Parkway and Jahnke Road.
Greg Ferrante, senior vice president, and Jones will lead the assignment for JLL.