Business news from the Fredericksburg region.

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Lease finalized for Central Park site

By Bill Freehling

It’s official: Buy Buy Baby and Christmas Tree Shops will occupy the former Shoppers Food & Pharmacy space in Fredericksburg’s Central Park shopping center.

Bed Bath & Beyond Inc., which owns the two retailers that will be coming to the former grocery store, recently finalized its lease on the property at 1320 Carl D. Silver Parkway. That frees Shoppers parent Supervalu Inc. from the lease.

Buy Buy Baby is a baby-supply store, while Christmas Tree Shops sells a variety of discounted items including home furnishings. It’s unclear when the two stores will open.

Shoppers Food left behind about 75,000 square feet of vacant space when it closed the store in early 2011, one of the largest retail vacancies in the Fredericksburg-area market. The city of Fredericksburg expects to see a boost in tax revenue from the arrival of Buy Buy Baby and Christmas Tree Shops, neither of which currently has a presence locally.

The deal is the latest shot in the arm for that stretch of Central Park, which was beset during the recession by the closings of Shoppers, Borders and Linens ’n Things. Now all three large spaces will be filled again. Hobby Lobby is open in the former Linens ’n Things space, while Barnes & Noble plans a Nov. 7 opening at the former Borders store. Five Below also recently moved its Central Park store to that strip center.

An architectural rendering submitted in April to Fredericksburg’s Building and Development Services Department indicates that to someone facing the former Shoppers building, Buy Buy Baby will be on the left.

Bill Freehling: 540/374-5405