HENRICO, Va. — The Short Pump land rush along West Broad Street may be reaching the end of the line, at least within the confines of Henrico County.
Two of the last large developable tracts of land with Broad Street front in the Short Pump section of the county will likely soon be out of reach, as one has just gone up for sale and the other is under contract.
Members of the Anne McGeorge Clements Family Limited Partnership have listed for sale the family’s 12-acre property at 12120 W. Broad St., at the corner of North Gayton Road.
Across Broad Street, Atlanta-based Core Property Capital has placed about 23 acres at 12401 W. Broad St. under contract for a possible mixed-use development.
If both properties are sold, there will be no more large tracts of undeveloped West Broad Street frontage available for purchase on that stretch of Broad.
“With the exception of the Pruitt Family property in front of Short Pump Town Center, this is it,” said Mark Douglas, a broker with Cushman & Wakefield | Thalhimer who has completed several land deals along the West Broad Street corridor in Henrico County and has the listing on the Clements property. “It goes to show you how successful Short Pump has become since the [Short Pump] Town Center opened…development continues to flow into the area.”
The only other undeveloped plot along Broad in that area is 8 acres at 12341 W. Broad St., which is slated for a new Hampton Inn & Suites hotel at the hands of locally based Shamin Hotels.
Bernard Clements, who is overseeing the sale for the family, said they are entertaining four serious offers for their parcel, all from all out-of-town development firms seeking to pay above the $8.5 million listing price.
“The property is simply ripe for development,” he said. “When you see the level of activity occurring in the area, we just knew that it was time to sell.”
The property is currently zoned agricultural, according to county property records and is vacant land, save for an old one-story home that can be seen from West Broad Street.
Douglas said the property can be rezoned for urban mixed-use – allowing for the most dense forms of residential and commercial development. The same zoning designation is beginning to come into favor to add density to nearby Innsbrook.
“Whatever would be constructed on the site it would be something that would complement the type of development occurring in the area,” Douglas said.
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