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Business Insider

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

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Cosner’s Corner retail building heading to foreclosure?

Foreclosure proceedings have begun on a multi-tenant retail building in the Cosner’s Corner shopping center.

A legal ad ran in Monday’s Free Lance-Star regarding an upcoming bank-ordered auction on a building at 10141-10159 Jefferson Davis Highway. Tenants at that building include Five Guys, Kappa Garden Sushi Bistro and C&R Carpet & Rugs. The sale wouldn’t affect their businesses.

Sang K. Park, an Annandale attorney, is serving as substitute trustee for the auction, which is scheduled for 11 a.m. Dec. 4.

An entity named Global K Inc. purchased the building in December 2008 for $4.86 million, according to Spotsylvania property records. Woori America Bank is the lender, Park said. Global K’s mailing address is out of Rockville, Md.