Construction crews are busy at work on the Settlers Market shopping center in James City County. Once complete it will feature 250,000 square feet of retail space along with an adjoining residential component located along Settlers Market Boulevard adjacent to the center.
At this point a Spring 2013 opening is planned for the new Stein Mart, HomeGoods ,ULTA Michaels,Dress Barn, Five Below and Shoe Carnival stores.
They will join the existing Trader Joes, Bakers Crust, AT&T,Sleepy’s Long & Foster Real Estate, BB&T Bank as well as a “Wal Mart Neighborhood Market” grocery store that is on track to start construction soon.
The center is being developed by FCP and its partner, Westmoreland Partners,who are represented in retail leasing by the Norfolk office of The Shopping Center Group.
Settlers Market was acquired by Federal Capital Partners and Westmoreland Partners earlier this year for $13.25 million from Union Bank who foreclosed on the property in Feb 2011
The original owner/ developer was AIG Baker who had originally obtained a $55.5 million note to develop the property with a 350,000-square-foot combination of upscale retail, office and residential space. AIG Baker’s plans ground to a halt in 2008 with the downturn in the economy
Settlers Market is located at the intersection of Rt 199 and Monticello Avenue and is the gateway for the New Town Master Plan Development Corridor.
The acquisition was the second FCP transaction with Howard Biel and Drew Gorman of WML since the company announced an alliance with the retail veterans in fall 2010. The alliance focuses on purchasing development and redevelopment opportunities, notes on troubled assets and existing income-producing retail assets throughout the Mid-Atlantic.
"Settler’s Market … was in need of a new owner, developer, capital and vision to complete the center," said FCP Managing Partner, Esko Korhonen. "We had the opportunity to purchase the site at a significant discount to in-place cost and will be working closely with representative agencies of James City County and the New Town Associates Design and Review Board to revisit the current site plan so that the project can maximize its potential."
Psst. I’m a real estate agent…
This post is brought to you by local resident and REALTOR, John Womeldorf, known around town as “Mr. Williamsburg” because of his extensive knowledge of the Williamsburg/Hampton Roads area and its real estate market. If you are relocating, retiring, seeking a vacation home, or simply curious about homes and neighborhoods in the Williamsburg/Hampton Roads area, John is happy to help. Click here to send him an email, or call him at 757-254-8136.
Neighborhood Orientation Tours
Are the schools good? How is the traffic? Can you hear planes from nearby airports? Where is the closest grocery store?
It can be daunting to get all the information you need to choose not only the right house, but also the right neighborhood. Schedule one of John’s Neighborhood Orientation tours of communities in the Williamsburg/Hampton Roads area to get such essentials as:
home prices – shopping centers – military bases – recreational facilities – public and private schools – public transportation – aircraft/traffic noise – high potential accident zones – flood zones – playgrounds – major traffic patterns and commute times
Click here to email John about arranging a tour, or call him at 757-254-8136.
Are You A Military Family?
PCS’ing to Williamsburg/Hampton Roads ? the area is home to many military families. John is experienced in helping them with the unique issues raised by frequent relocations, and he understands the kind of support team it takes to make smooth transitions both into and out of the area. Click here to email John about your needs and concerns, or call him at 757-254-8136.
Specific Needs Properties
Active Adults/55+ Communities, Golfing Communities, Building Lots, Foreclosure/REO Properties, Townhomes, Condominiums, Waterfront, Walk able, Horse Properties and more….
If you have a specific type of property in mind, John can help you find it. For assistance in unearthing just the right property in the Williamsburg/Hampton Road area, click here to contact John by email, or call him at 757-254-8136.
Filed under: Business, james city county virginia, New Town, williamsburg va | Leave a Comment »
Skating is conducted in sessions: 10-11:30 a.m., noon-1:30 p.m., 2-3:30 p.m., 4-5:30 p.m., 6-7:30 p.m. and 8-9:30 p.m. Operation hours may be adjusted based on weather conditions, participation numbers and special events. Children aged 11 and younger must be accompanied and supervised by an adult at all times. All participants must wear skates.
psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg areas of Virginia or to sell your existing home.
As I reported 
Stein Mart, HomeGoods and ULTA recently signed leases to open their doors along the Monticello Avenue corridor, Williamsburg’s now dominant retail hotbed. Stein Mart signed a lease for 30,000 square feet at the north end of the center adjacent to ULTA, which in turn signed for 10,000 square feet. A 25,000-square foot HomeGoods store is planned for the anchor space adjacent to Michaels, which had re-committed to the shopping center program earlier this year.
When fully developed, Settlers Market shopping center will feature 250,000 square feet of well merchandised retail space with planned residential townhomes located along Settlers Market Boulevard adjacent to the center. FCP and its partner, Westmoreland Partners, are represented in retail leasing by the Norfolk office of 
Other new tenants include, Michael’s Arts and Crafts, Long and Foster Real Estate who will consolidate their two local offices and move into the space next to to Bakers Crust and Sleepys, yet another mattress store.
