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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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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.