Schrader Commercial Properties was pleased to represent the CM Gatton Trust in this transaction. Congratulations to the buyer, Belmont Centre, LLC.

$60 million shopping plaza with grocery, restaurants planned for Citation Boulevard

BY Beth Musgrave,
September 29, 2022

Two Lexington developers have purchased a 28-acre tract in a fast-growing part of northwest Lexington and plan to build a $60 million shopping complex on the site.

The Webb and Greer companies, which also developed City Centre in downtown Lexington, announced Thursday they had purchased land at the corner of Citation Boulevard and Georgetown Road for $10 million from the estate of William Gatton, a long-time philanthropist with strong ties to the University of Kentucky.

The planned development, called Citation Centre, will include a grocery store, pharmacy, fast-food and sit-down restaurants, professional office space and medical offices, according to a press release.

The companies said the tenants of the new project will announce “in coming weeks” their intent to locate to the new shopping plaza.

The area of Georgetown and Citation has seen rapid growth in recent years. Residents in the area have long complained about a lack of grocery stores and other amenities in the largely residential area.

Read the full article here.