Former Martin’s store in Chesterfield sells for $2.87M

Ukrop’s Super Markets last month sold the former Martin’s retail space at Chesterfield Meadows shopping center in Chesterfield County to a limited liability company for $2.866 million.

Sunhe Property purchased the 4.3-acre site at 6401 Centralia Road on May 23, according to county real estate records. The land includes a 44,840-square-foot retail building.

James Ashby IV and David Crawford of Cushman & Wakefield | Thalhimer, who handled negotiations on behalf of Ukrop‘s and arranged the sale, announced in a news release that the land was bought as an investment.

Longtime Richmond family grocery chain Ukrop’s purchased the site in 1986 and had owned the land up until last month. The building was remodeled into a Martin’s store in 2010, after the Giant-Carlisle division of Dutch company Ahold acquired all Ukrop’s stores and turned them into Martin’s grocery stores. Martin’s Richmond-area markets closed in 2017, although 10 were replaced by Publix grocery stores after the Florida-based grocer purchased Martin’s stores in the region.

The Chesterfield Meadows building has been vacant since 2017, according to Ashby.

Ashby said the buyer has retail plans for the space, but that he can’t provide any information about what they are. The registered agent for the LLC declined to comment.