GLEN MILLS, PA—Chadds Ford Investors, LP has acquired a nearly 30-acre parcel of land here that will be the site of a Wegmans store.
The deal announced by KarMar Realty Group, Inc., which represented the buyer and the seller in the transaction, involves 29.5 acres of land on Route 202 and the Route 1 loop road that is located southwest of the intersection of Routes 1 and 202. The seller was D.O.H. Family, LP. No financial details of the transaction were released.
Wegmans has leased a portion of the site from Chadds Ford Investors for a 140,000-square-foot retail store that is scheduled to open in the fall of 2015, according to Marshall Soss, president of KarMar Realty Group, Inc., “Chadds Ford Investors, LP will also build an additional 40,000 square feet of retail space on the site. Chadds Ford Investors, LP will be constructing a new portion of the loop road and bring all utilities to the site,” Soss says.
“When the new Wegmans is completed it will be 16 miles from the store in Malvern and is ideally placed to serve Delaware County, southern Chester County and northern Delaware,” says Justin Soss, EVP of KarMar. “When the new extension of the loop road is completed the property will have easy ingress and egress from both Routes 1 and 202."
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