Tim’s Mart at 1010 Caroline St. in downtown Fredericksburg is under contract, and the purchaser is envisioning a mixed-use development. The name of the buyer — a developer — is being withheld until the sale is final.
“All options are on the table right now,” said Jamie A. Scully, of Cushman & Wakefield | Thalhimer Commercial Real Estate, who has been hired by the developer to help with the concept and lease-up.
According to Scully, the project will have frontage on Caroline Street, with restaurants, commercial space, and an an open air courtyard on the ground floor. The second floor will likely be used for commercial space. “The team is also considering a section above the second floor for residential or more commercial,” Scully said. This upper section will be setback from the street.
The 26,000-square-foot building was owned by Tim and Margaret Park, who opened their clothing and wig shop there in 1985. Prior to that, the two-story building housed the Leggett department store, which moved to what is now Spotsylvania Towne Centre and later became Belk.
To learn more or to inquire about leasing space, contact Jamie Scully at 540-322 4140.
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