A 7-acre site in Dahlgren has been sold to a local developer who has plans for retail developments in that area.
The seller, JPI–Walnut Hill LLC, which is registered to James Jarrell of Jarrell Properties, sold the lot Friday to Darell Hertenstein of Hertenstein Investment Group for $850,000.
The property is adjacent to the People’s Community Bank on U.S. 301.
Hertenstein said he has no immediate plans for the property. However, he is currently developing a nearby 30,000-square-foot retail building called the Shops at Walnut Hill. He said the property could potentially become another retail development in the next few years.
Marc G. Smith, vice president of commercial development and transactions for Jarrell Properties handled the transaction.
Lindley Estes: 540.735-1976lestes@freelancestar.com
http://www.fredericksburg.com/business/local_business/king-george-site-sells-to-local-developer/article_da93c89d-619d-5709-8b9b-b6cee67e5cd6.html