WILLIAMSBURG, VA—Armada Hoffler Propertiesannounced plans to redevelop the now shuttered WilliamsburgOutlets into a grocery-anchored shopping center. The REIThas already inked a 53,000-square foot lease with HarrisTeeter. The shopping center will support another35,000-square feet of retail.
Armada Hoffler is developing the center under a JV in which itis the majority partner. The REIT didn't say who the partner was,or if it had one in place for the project.
Phase one of the project consists of approximately 88,000 squarefeet, expected to deliver in early 2016. Construction will begin inthe third quarter of 2014. Phase two would consist of another42,000 square feet.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
