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

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UMW Foundation paid $790,000 for Hostess property

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The former Hostess/Wonder Bread facility on Powhatan Street in Fredericksburg.

The University of Mary Washington Foundation paid $790,000 for the former Hostess property in Fredericksburg, according to a deed recorded this week in Fredericksburg Circuit Court.

The property, which is in the 1300 block of Powhatan Street, includes nearly an acre of land and three usable buildings with a total of about 15,000 square feet. It’s assessed at $825,200.

An affiliate of the UMW Foundation last week bought the property from Hackman Capital, a Los Angeles-based investment fund that purchased all the Hostess Brands properties as part of the company’s bankruptcy case. Hackman then decided to liquidate the individual properties.

The property backs up to the UMW Foundation’s Eagle Village complex, creating the possibility of redevelopment. In the shorter term, UMW plans to use the property for storage.