Stein Mart in Williamsburg Shopping Center is closing its doors Saturday, but won’t be gone for long.
The store is slashing prices on its inventory in preparation for its move up Monticello Avenue to the new Settlers Market, where it will open March 7.
Stein Mart will leave behind 32,000 empty square feet in a struggling shopping center to join the long-delayed Settlers Market.
Evan Podob, the leasing agent for Williamsburg Shopping Center owners DLC, said the space has not yet found a replacement tenant, but he has talked with interested parties. He said the space is not being marketed strictly to clothing retail department stores.
Settler’s Market will bring several new brand names to Williamsburg area, including Michael’s craft supply store, HomeGoods and Ulta. The shopping center has also signed leases with Dress Barn, Shoe Carnival and Five Below. James City County Economic Development Director Russell Seymour said most of the stores are expected to open in early spring.
A site plan of the shopping center also shows a Petco to be built at the intersection of Settlers Market Boulevard and Casey Boulevard, and a 35,000-square-foot anchor store beside the Stein Mart location is listed as “available.” One restaurant, Noodles & Company, has signed to one of the new spaces. The eatery, with several locations in Northern Virginia, specializes in noodle-based dishes from around the world, from mac and cheese to pad Thai.
Settlers Market’s construction stalled when the recession hit and owner AIG Baker defaulted on its loan, leaving four parcels mostly empty, except for an infrastructure of street lights and roads. New owners Federal Capital Partners and Westmoreland Partners began work on the site in May 2012.
It will also feature Walmart’s Neighborhood Market, a grocery concept from the big box store that will join Trader Joe’s and The Fresh Market to be the third grocery store in the intersection. Walmart purchased the property in 2008 and received approval to build a 41,785-square-foot facility from the county’s Development Review Committee in March 2012.
The development plan includes residential units, to be located on the 9 acres of property closest to New Town.
