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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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Investment deals go down in King George last month

At least three area businessmen were involved with buying investment property not far from the growing Dahlgren area of King George County last month.

Joe Wilson’s Wilco Enterprises Inc., which owns PermaTreat Pest and Termite Control, bought 38.4 acres at the northwest corner of State Route 3 and U.S. 301 for future retail and residential development. Wilco bought the property for $351,500 from Heritage Crossing LLC.

An LLC affiliated with Fredericksburg-based Jarrell Properties Inc. bought 126 acres of agricultural-zoned open land near the intersection of State Route 206 and U.S. 301 for $400,000 from Chesapeake Walnut Hill LLC. Jay Jarrell, operating manager of the LLC that bought the Walnut Hill property, foresees demand for residential and commercial development there in the near future.

Dan Wallace and his family purchased the Arby’s restaurant property off U.S. 301 that closed late last year. That will be the seventh Fredericksburg-area Arby’s location for Wallace’s family. The Wallace family LLC purchased the Arby’s property for $420,000 from KBK Virginia Inc., according to the King George deeds from May.

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Permalink: http://news.fredericksburg.com/businessbrowser/2012/06/05/investment-deals-go-down-in-king-george-last-month/