Two large buildings in the center of downtown Fredericksburg are for sale, continuing a recent trend in the market.
The Sale family has listed the two buildings they own on the east side of Caroline Street at the William Street intersection. Both are listed for sale with Donny Self with Coldwell Banker Commercial Elite. The Sales own additional downtown property that is not currently on the market.
The property at 1001 Caroline St. is 25,032 square feet on 0.39 acres. It is home to the Antique Court of Shoppes. The property at 925 Caroline St. is 21,222 square feet on 0.18 acres and is home to The Fredericksburg Antique Mall & Clock Shop. Self said he is negotiating a letter of intent for the sale of both properties.
If the two properties do change hands, it will continue a recent trend of large-for-Fredericksburg downtown buildings being put on the market. Some other examples include:
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A rendering of what “Park Place on William” will look like at 520 William St. after being renovated.
The 26,480-square-foot building at 520 William St. sold earlier this month to Park Place on William LLC (a Vakos Companies affiliate) for $4.3 million. An exterior and interior renovation is planned over the next year at the Park Place on William project. This project is just down the street from Vakos’ William Square project, which includes The Publisher Hotel, two mixed-use buildings and a garage. It’s right across William Street from Wack General Contractor’s Liberty Place project and the Silver Companies’ Amelia Square project. A bank branch (not yet identified) is expected to occupy space on the William Street ground level of Park Place on William alongside the established Coldwell Banker Elite office. Ameris Bank and The Insurance Smith also lease space there. A Vakos affiliate also bought the 2,150-square-foot building at 523 George St. — directly behind Park Place on William — last month for $900,000. A Vakos affiliate also owns property at the corner of Lafayette Boulevard and Prince Edward Street, in addition to two remaining undeveloped lots along William Street at the William Square project.
- A limited liability company called 922 Market in August bought the buildings at 922 and 924 Caroline St. from longtime owner James Newton for $1.5 million. The property totals about 9,200 square feet; Artful Dimensions Gallery is in part of the space now. No plans have been announced for future plans for the property.
- Luigi Castiglia, the longtime owner of the William Street restaurant that still bears his name, bought the 19,000-square-foot building at 525 Caroline St. in September for $1.9 million. He intends to lease it out to someone interested in using it as an event space.
- Jarrell Properties Inc. purchased the 5,272-square-foot former Fredericksburg Visitor Center building at 706 Caroline St. and the adjacent parking lot from the Fredericksburg Economic Development Authority in May for $1.34 million. Jarrell is weighing options for residential and commercial uses for the building. Jarrell has been increasingly active downtown of late, with a portfolio that includes the under-renovation Goolrick’s building at 901 Caroline St.; the J. Brian’s Tap Room building at 200 Hanover St.; William Street buildings that house Wild Hare Cider, Curio Wine Bar and Rebellion; and numerous additional properties on Princess Anne, Caroline and Sophia streets. The new Fredericksburg Visitor Center will open Nov. 1 at 601 Caroline St.
- Foode owners Beth Black and Joy Crump bought the former Beck’s Antiques property at 708 Caroline St. in July for $900,000 (Beck’s is now an online antiques shop). Black and Crump also own the building where their 718 Venue is located at 718 Caroline St., as well as a portion of the building where Foode is located at 900 Princess Anne.
- SMDM Investments LLC recently purchased the 4,621-square-foot office buildings at 606 and 608 William St. with the adjoining parking lots at 614 William St. and 919 Barton St. for $1.7 million from St. William Partners, L.C.
Bill Freehling covers local business for the Fredericksburg Free Press. He can be reached at: [email protected].
