Highly prized Academy Sports + Outdoors and off-price retailers T.J.Maxx and HomeGoods to occupy former Burlington space
A former Burlington store will soon be home to Academy Sports + Outdoors, HomeGoods and T.J.Maxx at Big V Property Group’s Pocono Crossing (Photo credit: Big V Property Group)
RICHMOND, VA. --- The ongoing repositioning and redevelopment of Pocono Crossing continues with owner/developer Big V Property Group’s announcement that three of today’s most in-demand retailers — Academy Sports + Outdoors and TJX Companies’ HomeGoods and T.J.Maxx divisions — will open stores in the 180,845-square-foot open-air community center.
Academy Sports + Outdoors will occupy 63,200 square feet of a former 92,000-square-foot Burlington space, with a combination TJMaxx and HomeGoods store occupying 30,000 square feet and 25,000 square feet, respectively, said Greg Ix, Senior Vice President of Leasing at Big V Property Group.
“We’re thrilled to have a power line-up of Academy Sports, T.J.Maxx and HomeGoods as part of our tenant mix at Pocono Crossing,” said Ix. “Academy will open Q2 2025 and T.J.Maxx and HomeGoods will debut Q1 2026, and after an innovative subdivision of the Burlington shell and combination of strategic vacancies, this will give them a prime location in the heart of the growing Chesterfield corridor.”
“The redevelopment is very complex, but ultimately a cost-effective way to convert exceptionally large, potentially obsolete space into locations more suitable for today’s more focused retailers,” said Scott Cozzali, Vice President of Construction.
Accommodating these new tenants entailed dividing the space, combining spaces that were left vacant for a future opportunity such as this, and reconfiguring the façade.
“The result is a construction period that is faster, more economical, and more sustainable, despite the challenges of high costs, supply chain disruptions, and labor shortages,” Cozzalli continued. “Our construction team was instrumental in redesigning façades and loading docks to tenant specification.”
“Redevelopment opportunities of this caliber are rare to present to the lending community. We ran an extensive marketing process and had numerous lenders wanting to make the loan to help achieve the business plan,” said Bryan Kallenberg, Vice President of Capital Markets at Big V Property Group. “We ultimately chose a full capital stack provider that understood the project and fit the strategy set forth by executive management. This is yet another example of how Big V’s vertical integration allows for seamless execution when dealing with complex projects.”
“As retail has evolved, there are very few single tenants looking to occupy a nearly 100,000-square-foot box, so strategically subdividing this space allows us to accommodate current retail trends and in-demand retailers without the risks and delays that can be involved in ground-up construction. It’s a win for the retailers, a win for our investors as we create even more value, and a triumph for the community, which will benefit from easy access to these best-in-class tenants,” Ix continued.
The two will join Chuck E. Cheese, Martial Arts World, Blue Streak, and Kick Back Jacks at Pocono Crossing. Big V Property Group acquired the regional shopping center in 2019 and has undertaken a strategic evaluation and redevelopment program to reposition the center to serve an affluent community.
Pocono Crossing is located at 10400 Midlothian Turnpike between Powhite Parkway and Huguenot Rd., in one of Richmond’s most affluent and strongest retail submarkets. More than 142,000 people live within a five-mile radius of Pocono Crossing, with an average household income of $109,385. More than 54,000 vehicles pass the site daily.
The center also is situated in one of the most developed and heavily trafficked districts in the city, with a one million-square-foot office park and Chesterfield Towne Center mall less than a mile away.
Several spaces remain available, ranging from 1,000 square feet to 12,000 square feet.
“We want to thank our retail partners, Academy Sports + Outdoors, the TJX Companies, the Big V Property Group team for their extraordinary focus and expertise and Thalhimer Cushman & Wakefield in Richmond,” Ix said.
About Big V Property Group
Big V Property Group owns and operates over 50 neighborhood and community shopping centers totaling over 9.5 million square feet, primarily located in the southern region of the U.S. Big V Property Group is headquartered in Charlotte, NC with major offices in Murfreesboro, TN, San Antonio and Austin, TX, and Florida, NY. For further information, please visit bigv.com.
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