Developer completes land deal for outlet mall in Hanover County
The developers of a proposed outlet mall located adjacent to Interstate 95 in Hanover County announced on Jan. 3 they have finalized a deal to purchase of 43 acres of undeveloped land at the corner of Lakeridge Parkway and Lewistown Road.
An aerial view shows the location of the pending outlet shops at the intersection of Lakeridge Parkway and Lewistown Road.
California-based Craig Reality Group is proposing to develop an upscale factory outlet center, which, if approved, will be called The Outlets at Richmond. The center will offer quality brand-name merchandise in an architecturally rich environment that offers shoppers accessibility and convenience. Steven L. Craig, chief executive officer of Craig Reality Group, said that the purchase of the acreage from Northlake Land Investments and Dominion Land and Development Corporation closed Dec. 31.
The outlet mall will be located off exit 89 on Interstate 95 at the northeast corner of Lewistown Road and Lakeridge Parkway. The development is planned to include a 392,000 square-foot outlet retail center plus restaurants. The developers anticipate an exciting selection of nationally recognized retailers as well as trendy local and regional merchants.
According to Craig, the development has “obtained written commitments from several retail entities,” but he could not make any formal announcement at this time.
He added that the development’s prospective tenants are attracted by its highly visible and easily accessible location along one of the nation’s most heavily traveled interstates. The site also shares an exit with the well-established and successful Bass Pro Shops.
“With the purchase of this acreage we are looking forward to moving the project along,” Craig noted. “Once we achieve sufficient pre-leasing and obtain the necessary governmental approvals, we will immediately commence construction.”
Cecil R. Harris, Hanover County administrator said, the county looks forward to seeing the project become a reality.
“ We are excited about the prospect of the upscale retail outlet center and are looking forward to working with the developer as the project moves toward completion,” Harris said.