Dodson continues downtown buying spree

An entity owned by Duke Dodson bought the building at 317 E. Broad St. (Kieran McQuilkin)

An entity owned by Duke Dodson bought the building at 317 E. Broad St. (Kieran McQuilkin)

An emerging player in the continued renaissance of a stretch of downtown has grabbed another piece of East Broad Street real estate frontage.

An entity tied to Duke Dodson, president of Richmond-based Dodson Property Management, has acquired another building in the 300 block of East Broad Street – this time 317 E. Broad St.

The entity, Randymac IV, bought the one-story, 2,000-square-foot property last week for $250,000, according to city property records. The building most recently was assessed for $179,000.

Dodson would not comment on plans for the property.

It’s the fifth contiguous property Dodson’s Randymac has purchased on that block of East Broad in seven months.

In September 2016, the company purchased 309, 311, 313 and 315 E. Broad St. The latest deal puts Randymac’s total investment on the block at $1.9 million, according to city records.

Two of the five storefronts have tenants: New Rich Sports at 311 E. Broad St. and MetroPCS at 317 E. Broad St. The remaining three are vacant.

Michael Shaia, a broker with Richmond-based Cushman & Wakefield | Thalhimer, handled the sale on behalf of the seller, Soo Il Jung.

Dodson’s growing cache represents the latest sign of continued investment along Broad Street between Belvidere and the Greater Richmond Convention Center, and the surrounding Jackson Ward neighborhood.

A couple blocks west, Eric Phipps’ EGP Properties LLC is under contract to purchase a 1-acre parcel at 2 E. Marshall St., where a five-story, $27 million apartment project is planned.

Washington, D.C.-based Douglas Development last month purchased the vacant, 2,000-square-foot building at 314 N. Second St. in Jackson Ward, adding to its holdings of more than a dozen properties in the surrounding blocks.

An entity owned by Duke Dodson bought the building at 317 E. Broad St. (Kieran McQuilkin)

An entity owned by Duke Dodson bought the building at 317 E. Broad St. (Kieran McQuilkin)

An emerging player in the continued renaissance of a stretch of downtown has grabbed another piece of East Broad Street real estate frontage.

An entity tied to Duke Dodson, president of Richmond-based Dodson Property Management, has acquired another building in the 300 block of East Broad Street – this time 317 E. Broad St.

The entity, Randymac IV, bought the one-story, 2,000-square-foot property last week for $250,000, according to city property records. The building most recently was assessed for $179,000.

Dodson would not comment on plans for the property.

It’s the fifth contiguous property Dodson’s Randymac has purchased on that block of East Broad in seven months.

In September 2016, the company purchased 309, 311, 313 and 315 E. Broad St. The latest deal puts Randymac’s total investment on the block at $1.9 million, according to city records.

Two of the five storefronts have tenants: New Rich Sports at 311 E. Broad St. and MetroPCS at 317 E. Broad St. The remaining three are vacant.

Michael Shaia, a broker with Richmond-based Cushman & Wakefield | Thalhimer, handled the sale on behalf of the seller, Soo Il Jung.

Dodson’s growing cache represents the latest sign of continued investment along Broad Street between Belvidere and the Greater Richmond Convention Center, and the surrounding Jackson Ward neighborhood.

A couple blocks west, Eric Phipps’ EGP Properties LLC is under contract to purchase a 1-acre parcel at 2 E. Marshall St., where a five-story, $27 million apartment project is planned.

Washington, D.C.-based Douglas Development last month purchased the vacant, 2,000-square-foot building at 314 N. Second St. in Jackson Ward, adding to its holdings of more than a dozen properties in the surrounding blocks.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

 — 

 — 

 — 

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING [email protected].

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.

EACH MEMBERSHIP WILL ONLY FUNCTION ON UP TO 3 MACHINES. ACCOUNTS ABUSING THAT LIMIT WILL BE DISCONTINUED.

FOR ASSISTANCE WITH YOUR MEMBERSHIP PLEASE EMAIL [email protected]




Return to Homepage

POSTED IN Commercial Real Estate

Editor's Picks

Subscribe
Notify of
guest

1 Comment
oldest
newest most voted
Inline Feedbacks
View all comments
Bruce Milam
Bruce Milam
6 years ago

The sweet music continues as the investment money moves east for relative bargains. Duke Dodson is building a fluid machine, building his brand across the region.congrats to his team!