Big Lots signs a 55,000-square-foot lease in Williamsburg

Published March 14, 2018 by Paula C. Squires

A 55,000-square-foot Big Lots store will soon join the tenants at Victory Village shopping center in Williamsburg.

The center’s owner, Miami-based Lionheart Capital, announced the addition of Big Lots, which plans to open in July in the center on Mooretown Road. Lionheart purchased the 176,000-square foot retail center, formerly known as Williamsburg Marketcenter, in 2016 for a reported $6 million.  It includes six outparcels fronting Mooretown Road and is adjacent to Sentara Williamsburg Regional Medical Center.

The space Big Lots leased previously housed Ukrop’s Homestyle Foods.   The retailer joins Home Depot and Ross Dress for Less as a co-anchor. In addition, four more tenants recently opened at Victory Village: Holloway Sports and Fitness, Buzz Picasso, Uniforms Plus, and music and novelty shop Retro Daddio.

“The center’s new name epitomizes its transformation over the last year with occupancy increasing from 35% to 75%.  The ‘victory’ of securing a replacement tenant for the 10-year vacant grocery box is undoubtedly a big step in making the center what we envisioned when purchasing it a year ago,” Lionheart’s founding partner, Ophir Sternberg, said in a statement.

The Shopping Center Group’s Virginia office represented Lionheart Capital in the lease transaction. “This area benefits from high household incomes as well as significant tourist traffic generated from area attractions,” said Debra Ramey, operating partner, The Shopping Center Group, Virginia Division.