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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Ukrop’s lease in Spotsylvania extends into 2017

Ukrop's in SpotsylvaniaUkrop’s has a lease that runs into 2017 at the store in Spotsylvania County, company spokeswoman Susan Rowe says.

Ukrop’s plans to close the grocery store sometime in the first quarter of 2010 but hasn’t given an exact date yet. The First Market Bank inside the store has said it will close March 22.

Last week I wrote about the effect that the Ukrop’s closing would have on that shopping center. At that point I hadn’t received the information from Ukrop’s about how long the lease extended through.

Ukrop’s opened the local store in 1997. This month the Richmond-based company announced it was being acquired by Giant-Carlisle, a division of Ahold USA, in a deal valued at $140 million. The Spotsylvania store was not included in the deal.

New York-based real estate investment trust Cedar Shopping Centers Inc. owns the building where Ukrop’s operates in Spotsylvania. Unless a new tenant is signed there to take over the Ukrop’s lease, Ukrop’s will have to keep making lease payments into 2017.

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Permalink: http://news.fredericksburg.com/businessbrowser/2009/12/28/ukrops-lease-in-spotsylvania-extends-into-2017/