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Business Insider
Bill Freehling is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Bill Freehling.
Union First Market sells land on Garrisonville
Union First Market Bank recently sold a 2.45-acre parcel of land on Garrisonville Road in North Stafford that it once considered for a branch location.
The Richmond-based bank sold the land at 616 Garrisonville Road to an LLC called Kingsland Square that is registered out of the Washington area. A retail and office development is envisioned, but no further details were available.
The sales price was $700,000.
Union spokesman Bill Cimino said the bank originally acquired the land from a foreclosure in the 1990s. The bank considered building a branch there but ultimately decided to sell it as excess property.
Joe Samaha of MVP Real Estate and Berkley Mitchell of Cushman & Wakefield | Thalhimer brokered the sale.
