An international grocery chain plans to open a Richmond-area store in a space formerly occupied by a Martin’s supermarket.
Virginia Beach-based Wheeler Real Estate Investment Trust Inc., the owner of the Brook Run Shopping Center in Henrico County, has agreed to a lease assignment and assumption deal between the parent company of the Martin’s Food Market chain and IM Investments, an international grocer that owns Big Apple stores.
Under the deal, IM Investments will open a Big Apple store in 58,473 square feet at the shopping center. A Martin’s supermarket occupied that space until it closed last August.
Martin's remains as a guarantor of the lease through the end of the original term, which expires Aug. 31, 2020. Big Apple has exercised a five-year renewal option on the space through 2025.
