RICHMOND—The local owner of a 170-acre infill development sitehere has placed the property on the market in hopes of attracting anational developer interested in building, well, whatever he or shethinks will best suit the site. The property, calledParkway Crossings at Bon Air, has entitled theproperty so it can be developed into a variety of uses includingoffice, retail, multifamily, medical office and hospitality,JLL's Gareth Jones tells GlobeSt.com. Jones, alongwith Greg Ferrante, is marketing the property forthe owner, which has substantial holdings in the Richmond market aswell as others in the Southeast.

The property is located at the intersection of Chippenham andPowhite Parkways, about eight miles southwest of Richmond's centralbusiness district in the Bon Air submarket. The parkways provideexcellent regional access from the city of Richmond, and Henrico,Chesterfield, Powhatan and Goochland Counties.

The owner is marketing the tract now, because the timing isright, Jones says. "Prior to this point it was not a goodenvironment for large-scale development." Jones declined to discussvaluations or pricing, noting that the owners don't have a fixedprice in mind, other than the conviction that substantial densitiescan be built on the site. "This is definitely not a discounted ordistressed purchase," he says, "but the owners are reluctant to pegtheir perception of the value to a specific price at thispoint."