New Kroger Store Launches $250M Hampton Roads Push
By Adrian Maties, Associate Editor
Kroger Co. broke ground Oct. 4 on a $25 million project in Virginia Beach that will be the grocery chain’s first Marketplace-brand store in the Hampton Roads region and the second in the state.
Scheduled for completion next summer, the property will be the first of 10 Marketplace stores that Kroger plans to open in the Hampton Roads area over the next five years at an estimated total cost of $250 million, the the Daily Press reported.
Located on the former Holland Rd. site of a Super Kmart, the 124,000-square-foot store will include traditional grocery offerings as well as 30,000 square feet of space for non-grocery items. It will also be Kroger’s largest Hampton Roads store.
The Virginia Beach store will follow a Marketplace scheduled to open this December in Richmond. Also in the works is a $20 million, 120,000-square-foot Marketplace on the former site of the I.C. Norcom High School property in Portsmouth. If the developers complete land acquisition and the entitlement process on schedule, the Portsmouth store could be finished by the first quarter of 2014.
Tags: commercial real estate, construction, Developers, Development, economy, Finance/Investment, Hampton Roads, Kroger, Local, marketplace, Regional, retail, Richmond-Hampton Roads Lead Story, Virginia Beach