Colonial Square Shopping Center is a 176,000 square foot shopping center located at the intersection of US Route 1 and Ellerslie Avenue in Colonial Heights, Virginia. The center was purchased from the Resolution Trust Corporation in 1996 and at that time was over 50% vacant. A redevelopment effort caused over half of the center to be demolished and several stores rebuilt. A new 63,000 square foot Ukrop’s super market, a 30,000 square foot Peebles Department Store, an 11,000 square foot Eckerd Drug (Now RiteAid), a 5,000 square foot Blockbuster Video and a number of other tenants were added. The property was sold in 2001. It was a joint venture between an entity owned by Blackstone Real Estate Advisors and Robert M. Stanton.
