KLNB Capital Markets is pleased to offer for sale the fee simple interest in Greenbrier Center, a 17.5-acre residential redevelopment opportunity at 2000-2220 Plank Road in Fredericksburg, VA (“the offering”). Currently a suburban shopping center, the property is occupied by only three tenants, two of which have leases that can be terminated by the landlord, and the third occupies a pad site which should not impact future development. Situated directly between I-95 & US-1, the property offers immediate access to the region’s two most heavily trafficked thoroughfares and is immediately adjacent to existing single-family homes.

The site is zoned C-H (Commercial Highway) in the City of Fredericksburg’s ordinance, which allows for a range of commercial and residential uses as a matter of right, including townhomes and multifamily. The current zoning designation allows for a by-right residential redevelopment of the property at a density of 12 units per acre. While more density is attainable via a special use permit or through rezoning, the site is best suited for a by-right townhome development. Given the layout of the property, and recent engineering layouts & market studies, the offering can support a 204-lot project, with a mix of 20’ & 22’ townhomes.