Real estate brokers find bargains for themselves

Two of Richmond’s biggest commercial real estate firms will soon be packing up and moving to new headquarters.

CB Richard Ellis
is moving to Reynolds Crossing near West Broad Street and Glenside Drive, a stone’s throw from their current office at Bayberry Court off Forest Avenue.

Media representative Jessica Butterworth confirmed that the move is scheduled for August.

Also planning a move is Thalhimer. BizSense has verified from sources inside and outside the company that the firm is moving from its current space at 1313 E. Main St. to the former S&K Menswear headquarters in Short Pump, which the company purchased in early 2009 along with S&K’s retail store and warehouse for $5.6 million.

When contacted for comment last week, President Paul Silver said that a news release would be forthcoming but would not give any additional details. The company also declined to comment when contacted Monday.

A banner advertising the property is still hanging on the building, but BizSense could not find a listing for the offices on the company’s website.

Thalhimer subsidiary TGM Realty purchased the property, which includes the bankrupt retailer’s distribution warehouse and a standalone retail store, last year. (You can read more about that in an RBS story here). At the time, S&K was still trying to get out of bankruptcy and was leasing back a portion of the space.

The headquarters building does not appear to be move-in-ready as significant construction is underway on the attached warehouse where for-profit college Stratford University leased 52,000 square feet.

The plan of development approved by Henrico County refers to the property as Thalhimer Plaza.

Al Harris covers commercial real estate for BizSense. Please send news tips to [email protected]

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Sam McDonald
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Those Thalhimer guys know how to make it all work together!