FREDERICKSBURG, Virginia (May 2022) – The Morgan Companies (“Morgan”) has acquired approximately 20 acres of land at the southwest corner of Plank Road and Big Ben Boulevard in Spotsylvania County for the development of a new shopping center anchored by Publix Super Markets (“Publix”). This will be the second Publix in the greater Fredericksburg market. The development will be called Chancellor Crossing.
Morgan, through its affiliate Plank Road Realty, LLC, acquired the property from Moushtaha Investment and Trading Company. Zach Means at Divaris Real Estate, Inc. represented Morgan, and Ben Keddie of Coldwell Banker Elite represented the Seller.
Publix will occupy approximately 50,000 square feet in the new development. There will also be 19,000 square feet of small shop space in three separate buildings on site. The project will also feature two outparcels. Morgan expects additional tenant announcements in the near future.
“We couldn’t be more proud to add Publix to the great line up of retailers along Plank Road,” said Trey Morgan, President of Morgan. “Chancellor Crossing will be community focused with best in class tenants that we are confident shoppers will enjoy frequenting.” Morgan anticipates construction will commence in the Fall, and open to the public in late 2023. For leasing information, contact Zach Means at (804) 335-0555.
About The Morgan Companies
For more than 45 years, the professionals at The Morgan Companies have produced quality commercial developments for its principals, clients, and investors. They have acquired, developed, managed, and leased over $1 billion in multi-sector assets in markets across the eastern U.S.
They handle all phases of the complex development process from site selection and governmental approvals to financing and construction. They also provide effective leasing programs and property and asset management services for retail shopping centers, office buildings, hotel, medical facilities, and single-tenant properties. Their working relationships with national, regional, and local tenants build sustainable occupancy levels and tenant mixes that reduce the likelihood of future turnover. For more information, please visit www.themorgancos.com.