The Pipeline: Commercial Real Estate Roundup for 10.03.08

Jack P. Fine & Associates has purchased 7,000 sf at 2405 Chamberlayne Ave. in Richmond. The property is home to an Advance Auto Parts store. It was sold by Chamberlayne Developers for $1.56 million, or $223 per sf. The freestanding retail building is located in the Laburnum/Rt. 360 retail submarket. Advance Auto Parts fully leases and occupies the property.
Contact: Jack Fine, Principal
804-762-7014

rubb & Ellis / Harrison & Bates reports the following transaction:

Virginia T’s, Inc. has leased 208,000 sf at 11200 and 11300 Old Stage Rd. in Chesterfield. The property was sold by The HNI Corporation. The space is part of a 380,000 sf building, which also has 11 loading docks and two drive-in bays. The building was built in 1972 and is located in Richmond’s I-95 S/I-295 S/Rt. 10 industrial submarket. Virginia T’s used to be headquartered in Petersburg; this move represents a relocation to Richmond. Virginia T’s sells clothing for men, women and children.
Contact: Dale Call, CEO
804-862-2600

CB Richard Ellis reports the following transaction:

FutureLaw, LLC http://futurelaw.net/ has renewed and expanded their lease for 5,293 sf at 823 E. Main St. in Richmond. They are taking the extra space as an expansion to their current office. The company is a consulting and law firm based in Richmond.
Contact: Chip Dicks, Manager
804-225-5506

Thalhimer reports the following transactions:

Mt. Gilead Full Gospel International Ministries has purchased 5.0 acres at 8620 Hull Street Rd. in Chesterfield. The property was sold by Bernard M. & Nancy K. Snead for $650,000. Mt. Gilead has purchased the land as an investment for future use.
Contact: Daniel Robertson Jr., Bishop
804-675-7600

Porter Realty reports the following transaction:

Space Road LLC has purchased 10.28 acres at 2848 and 2910 Cofer Rd. in Richmond. The property was sold by Marble Systems of Fairfax for $1.5 million. The site consists of an industrial facility and adjacent land. The facility is a 39,000 sf manufacturing building which was built in 1986. The property is located in the Jeff Davis corridor, south of I-95.

Lou-Rich Partners LLC has purchased 7,200 sf at 1575 Standing Ridge Dr. in Richmond. The property was sold by Standing Ridge LLC for $1.3 million. The site is located in the Oakbridge Business Park off Rt. 60. The property contains office space, a showroom, and warehouse space.

Superior Radiator Coils has purchased 5.25 acres at 301 Courthouse Rd. in Midlothian. The property was sold by the estate of Sara C. Woolford for $400,000.

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