Publix buys former Martin’s building in Richmond, evaluates next steps
RICHMOND, Va. – Publix has purchased the building where the former MARTIN’S Food Market was located at 7045 Forest Hill Avenue in the Shops at Stratford Hills, confirmed a company spokesperson.
The Florida-based grocer has not committed to opening a store in the location though.
“At this time, we can confirm the purchase of the real estate; however, we are currently in the due diligence process and are evaluating our next steps,” said spokeswoman Kimberly Reynolds. “When additional information becomes available, we’ll be happy to follow up.”
The MARTIN’S in this location closed in August when most stores not purchased by Publix closed.
The property is assessed at $6.7 million, according to city records.
Publix made its move into the Richmond market when it announced plans for a new grocery store on Nuckols Road in Glen Allen.
Shortly afterward, following the merger of MARTIN’S and Food Lion grocery companies, Publix announced they would buy 10 of the 20 stores purchased by MARTIN’S in 2010.
All of the stores purchased by Publix are undergoing renovations. Three of those stores have reopened, at White Oak shopping center on Laburnum, at the John Rolfe Parkway, and the CrossRidge store on Staples Mill.
The market has changed over the past seven years; previously it was dominated by Ukrop’s and there was little competition. In the past two years, four chains alone have established new shops in the Richmond market: Lidl, Aldi, Wegman’s and Publix.
Publix and Wegman’s tied in 2017 as the most popular grocery chains in the U.S., according to a study by the industry research firm Market Force. Publix was ranked second for the past four years.
Trader Joe’s only narrowly missed the lead spot.