King George Gateway is King George County’s largest retail power center anchored by a Wal-Mart Supercenter. Soon King George Gateway will be opening a new line of retail stores and shops in early 2015. They will be putting together plans on how they want these stores to be run, and set out, from small things like music streaming, Cloud Cover Music can discuss this more, to figuring out the entire layout and structure of the stores.
It includes a 72,000-square-foot multi-tenant retail building that should be completed and ready for retailers to do their final build-out by January, said Magnolia Martin, senior sales associate with Coldwell Banker Commercial Elite in Fredericksburg. Magnolia Martin is representing the owners with leasing efforts at the development.
Included in the new multi-tenant building is a great line up of retailers such as, Peebles, Hibbett Sports, Petco, Famous Footwear, Dollar Tree, Rue 21, The UPS Store and Goodwill. The new building has been completely leased with the exception of a 4,000 SF space, that a local, casual Italian restaurant is eyeing, said Martin.
As Phase II of the development (including the new retail building) is nearing completion there are a few other exciting items to report on at the development. A Holiday Inn Express & Suites has signed a deal to construct an 80 room Hotel near the intersection of University Drive (which serves the development and the University of Mary Washington Dahlgren Education and Research Center) and Route 301/James Madison Hwy.
Other real estate opportunities are available at the growing development. Four (4) graded pad sites are available for sale or lease totaling roughly 5 Acres.
These sites front Route 301, three of which will be located on out-parcels to the new retail building. The remaining 1 Acre Pad is for a Full-Service Restaurant and will be situated directly adjacent to the planned Holiday Inn at the intersection of Rt.301 and University Drive.
“We’re talking to a couple of automotive service retailers and a couple of casual-dining restaurants, not fast food,” said Martin. “We might do a multi-tenant building on one of the pads. It just depends on how everything plays out.”
King George Gateway also features Community Bank, Autozone, Hair Cuttery, Gamestop, Verizon Wireless, an a VA ABC store. A few limited service restaurants including Five Guys, Sweet Frog Frozen Yogurt, Benny’s, and a subway inside the Walmart store are the only restaurants serving King George Gateway.
The corridor still remains undeserved as Martin mentions: “This whole corridor is pretty underserved by the restaurant business,” Martin said. “Pancho Villa is always packed, and the numbers for the restaurants in Phase I are incredible. There’s still a need here.”
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