Real Estate
Wegmans Property for Sale in Fredericksburg
Sale of the property will not affect store operations; the lease will be transferred to the new owner.
The 16.5 acre property on Carl D Silver Parkway which is home to Fredericksburg's Wegmans is on the market for $25 million.
Calkain Companies of Reston is offering the property, and said the capitalization rate (cap rate) — the estimated rate of return based on the expected income the property will generate — is 4.25 percent.
Wegmans leased the property for 25 years beginning in 2009, and currently pays $88,685.50 a month in rent for the 160,000 square foot store and adjoining parking lot, according to the listing.
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The grocery chain has 81 stores in New York, Pennsylvania, New Jersey, Virginia, Maryland and Massachusetts, and employs more than 44,000 people.
The Fredericksburg store has $1.5 million in sales weekly, and is within the top five revenue producers company wide, Calkain reported.
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Wegmans was named number five on Fortune magazine's 2013 list of 100 Best Companies to Work For.
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