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Rankin’s Hardware, a three-store True Value member in Northern Virginia, has agreed to purchase the shopping plaza where its Colonial Beach store is located, according to fredericksburg.com.
According to the article, the hardware store chain purchased the location for $2.7 million when the bank offered generous terms. Aside from Rankin’s, the plaza houses a Dollar General, Papa John's Pizza, Sweet Tastin Bakery, East Coast Physicians, PC and Memory Lane Gift Shop.
The company also hopes to renovate a 15,000-sq.-ft. portion on the southern end of the plaza, which requires a new roof.