CNB Tower, CoStar deal take spotlight at real estate awards

Cheryl Shanahan of the Blue Book Construction Network addresses the crowd. (Mike Platania)

Cheryl Shanahan of the Blue Book Construction Network addresses the crowd. (Mike Platania)

A project that brought new life and hundreds of apartments to an 88-year-old downtown tower took home some hardware Tuesday night.

Deco at CNB, the new incarnation of the rehabbed Central National Bank building, won Project of the Year at the 16th annual Greater Richmond Association for Commercial Real Estate awards. The conversion of the 23-story former bank at 219 E. Broad St. into roughly 200 apartments was completed last year. D.C.-based developer Douglas Development Corp. was behind the $20 million project.

The evening’s other top honor went to a downtown office deal that filled a big vacancy and will bring more than 700 jobs to the city.

CoStar Group’s lease of the top three floors of the WestRock building at 501 S. Fifth St. earned Transaction of the Year.

The GRACRE ceremony, held at the Country Club of Virginia, recognized 21 projects and transactions. It was hosted by Cheryl Shanahan from The Blue Book. 

Other honorees included Avepoint, which recently unveiled its new office at Riverfront Plaza, and booze-makers Blue Bee Cider and Stone Brewing.

Here’s the full list of Tuesday’s winners:

Award-winning Projects
Award-winning Transactions

  • Best historic reuse: Blue Bee Cider
  • Best sustainable design: Dominion Due Diligence Group
  • Best adaptive reuse: Gather
  • Best urban office: Avepoint
  • Best suburban office: Keiter
  • Best community revitalization: Black History Museum & Cultural Art Center of Virginia
  • Best industrial: Stone Brewing
  • Best institutional: Queally Center at UofR
  • Best multi-family mixed use: 93 Octane and Shiloh Lofts
  • Best retail: Shagbark
  • Best medical office: CJW Medical Center
  • Project of the year: Deco at CNB

  • Best office sale: Bank of America Center
  • Best industrial sale: Windsor Business Park
  • Multi-family sale: Hickory Creek Apts., Park West End Apts., Champion Club Apts.
  • Best retail sale: Midlothian Station Shopping Center
  • Best industrial lease: Airport Distribution Center Building E
  • Best suburban office lease: SunTrust Center
  • Best urban office lease: ICMA-RC Riverfront Plaza
  • Best retail lease: Publix Supermarket
  • Transaction of the year: WestRock / CoStar


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