Kroger to make record investment in new Virginia store

Richmond, Va. -- Charlotte, N.C.-based Crosland Southeast said it broke ground Friday on Richmond MSA’s newest multi-use development, Stonebridge, which will occupy the site of the former Cloverleaf Mall in Chesterfield County, Va.

The first phase of Stonebridge includes the construction of 144,000-sq.-ft. of retail space – most notably, a 123,600-sq.-ft. Kroger Marketplace grocery store that will be the region’s largest and the company’s most expensive to date.  

The Kroger Marketplace will be the region’s largest traditional grocery store in size and will represent the Kroger Co.’s largest single-store investment in the company’s history. This first-of-its-kind store in Virginia offers shoppers an experience that combines a top-quality grocery store with 30,000 sq. ft. of non-grocery, home store offerings ranging from furniture to home décor. The remaining square footage of the first phase of development will include a Kroger fuel station, 20,400 sq. ft. of smaller retail shops and four outlots.

Stonebridge is a joint venture between Crosland Southeast and Hartford-based Hutensky Capital Partners. Plans are in place for a Phase II to launch in 2012 with 175,000 sq. ft. of retail and 350 multi-family residences.