HENRICO, Va. — A real estate remnant of a national retailer with a shrinking local footprint has struck a deal to be snatched up by two of the most active development firms in the region.
An entity tied to Rebkee Co. and Fountainhead Properties last week purchased the 196,000-square-foot Sears outlet and parts and service building, along with a surrounding 12-acre property, at 4100 Tomlynn St.
The transaction also included about 14 acres of undeveloped property next door at 2308 Westwood Ave.
The group paid a total of $6.5 million for the properties, just west of Scott’s Addition over the Henrico County line. The deal closed Sept. 14, according to county records.
No plans have been filed for the site with the county. Fountainhead Properties’ Rick Gregory and Rebkee’s Rob Hargett did not return calls seeking comment Monday.
The seller in the deal was Innovel Solutions, an entity tied to the address of Sears Holdings’ freight and truck operations in Illinois. Calls and emails to Sears Outlet’s headquarters in Illinois were not returned Monday evening.
Continue reading about the expansion west of Scott’s Addition, on RichmondBizSense.com.