The Sherwood Center in the Crossroads area of Bellevue is under contract to sell to a residential developer, the deal expected to close in late 2015.

Merlone Geier Partners agent Jim Alexander tells the Reporter the 628,221-square-foot lot is under contract to sell to a residential developer, but more information is not being released due to terms of a contract agreement.

The site had previously been anchored by Trader Joe’s at 15400 N.E. 20th St. The grocery store relocated down the street last year. Remaining businesses include Supercuts, Heidi’s Cleaners and Zenyai Noodle House.

Venture Construction is currently constructing the Bel-Red Apartments at 2070 Bel-Red Road — between the Sherwood Center and Overlake Crossing Center — for A Goodman Real Estate/Carlyle Group JV. The $55-million project includes three apartment towers with 352 residential units, and is slated for completion this summer.