Richmond Grocery Wars Update: Publix to Purchase 10 Martin’s Stores

Posted on by John W. Anderson in Commercial Real Estate, RVA Grocery and Delivery Wars

Only a week has passed since my last Grocery Wars update (available here), but major news regarding Richmond's grocery market has just been announced!

The Richmond community has been anticipating news of the fate of 19 local Martin'sgrocery stores. Yesterday, it was announced that Florida-based Publix will purchase 10 of the 19 Richmond stores, pending approval from the Federal Trade Commission (FTC). The additional 9 locations will operate for another 6 months to a year and then will also be sold. Publix is already planning to open a store in the Nuckols Place shopping center. This purchase makes Publix a major player in Richmond's grocery market.

The sale comes as a result of a merger between the parent companies of Martin's (Royal Ahold) and Food Lion (Delhaize). As a condition of the merger, the FTC has required the disposal of overlapping stores.

The 10 stores involved in this sale include the following locations: Boulevard in Colonial Heights; West Broad Street in Glen Allen; Brook Road in Glen Allen; Staples Mill Road in Glen Allen; Hull Street Road in Midlothian; Pump Road in Henrico; John Rolfe Parkway in Henrico; West Cary Street in Richmond; Three Chopt Road in Richmond; and South Laburnum Avenue in Richmond.

Richmond consumers, grocers, and developers will be awaiting news of the sale of the additional 9 Martin's stores.

Stay tuned as the grocery market remains hot in Richmond!

About the Author

John W. Anderson is a commercial real estate attorney who represents Virginia businesses and individuals. He assists his clients with a variety of commercial real estate matters and transactions (lender counsel, purchases, sales, leasing, tax-deferred exchanges, and development, as well as providing counsel regarding compliance with access provisions of the Americans with Disabilities Act), tax-deferred exchanges, and general corporate and business advice, including entity formation.

Spotts Fain publications are provided as an educational service and are not meant to be and should not be construed as legal advice. Readers with particular needs on specific issues should retain the services of competent counsel.