Graves’ site, located center-right, houses an office and some warehouses. (BizSense file)
After marketing the site for a mixed-use development that he’d hoped would bring a grocery store to Manchester, a local construction industry veteran is putting his prime Southside parcel back up for grabs.
Brent Graves listed his 1-acre plot at 201 W. Commerce St. for sale in recent weeks.
The mostly vacant land includes a one-story brick building that was once an office for Taylor & Parrish Construction, a local general contracting firm of which Graves was once a co-owner. Graves, now a principal at another construction firm, Conquest Moncure & Dunn, Inc., sold his stake in Taylor & Parrish in 2018 but held on to the real estate.
A few years ago he began plotting a major mixed-use development for the site, one that could have reached 16 stories and included hundreds of apartments. Graves’ site even drew the eyes of a few unidentified grocers; however, he said that those talks broke down before any deal was made.
Now, as the neighborhood continues to be a hotbed of development, Graves is testing the waters for a buyer.
“I thought I should be open to selling this specific site to help facilitate even more growth and development opportunities in this area,” he said in an email.
Brent Graves
Sitting equidistant between the Manchester Bridge and the Hull Street corridor, the land could be a gateway of sorts to the Southside neighborhood, Graves said.
“Since my property has such a commanding visual presence and location on, and along, West Commerce Road, it is inevitable that a development planning process should proceed on this site sometime soon,” he said.
Commonwealth Commercial’s Kit Tyler and Nash Warren have the listing, which doesn’t include an asking price.
The city most recently assessed the real estate at $1.7 million. However, land in Manchester has been selling for significantly higher.
The Thurston Spring Services site a block west of Graves’, where The Beach Co. is planning a six-story apartment building, sold in December for $3.9 million per acre. And Avery Hall’s riverfront site a few blocks north sold last fall for $5.9 million per acre, a record price in the city.
Graves’ parcel is zoned B-4 Central Business district, which doesn’t restrict building height. Graves said he’d like to find a buyer to take advantage of that designation.
“A thoughtful design and development plan on this site will provide great views of both the James River as well as of the downtown skyline,” he said. “Ideally a development on this site could have a rooftop bar and/or restaurant on the top floor of the building.”
Despite his deal for a grocer falling through, Graves is optimistic that Manchester eventually will lure a food store to set up shop.
“Basically the feedback I’ve gotten is Manchester needs to hit a critical mass of population. Until that happens, grocers are a little gun-shy,” he said. “I think there’s some interest. Maybe I’m too optimistic, but I think it’s not a question of if, it’s a question of when.”
Graves’ site, located center-right, houses an office and some warehouses. (BizSense file)
After marketing the site for a mixed-use development that he’d hoped would bring a grocery store to Manchester, a local construction industry veteran is putting his prime Southside parcel back up for grabs.
Brent Graves listed his 1-acre plot at 201 W. Commerce St. for sale in recent weeks.
The mostly vacant land includes a one-story brick building that was once an office for Taylor & Parrish Construction, a local general contracting firm of which Graves was once a co-owner. Graves, now a principal at another construction firm, Conquest Moncure & Dunn, Inc., sold his stake in Taylor & Parrish in 2018 but held on to the real estate.
A few years ago he began plotting a major mixed-use development for the site, one that could have reached 16 stories and included hundreds of apartments. Graves’ site even drew the eyes of a few unidentified grocers; however, he said that those talks broke down before any deal was made.
Now, as the neighborhood continues to be a hotbed of development, Graves is testing the waters for a buyer.
“I thought I should be open to selling this specific site to help facilitate even more growth and development opportunities in this area,” he said in an email.
Brent Graves
Sitting equidistant between the Manchester Bridge and the Hull Street corridor, the land could be a gateway of sorts to the Southside neighborhood, Graves said.
“Since my property has such a commanding visual presence and location on, and along, West Commerce Road, it is inevitable that a development planning process should proceed on this site sometime soon,” he said.
Commonwealth Commercial’s Kit Tyler and Nash Warren have the listing, which doesn’t include an asking price.
The city most recently assessed the real estate at $1.7 million. However, land in Manchester has been selling for significantly higher.
The Thurston Spring Services site a block west of Graves’, where The Beach Co. is planning a six-story apartment building, sold in December for $3.9 million per acre. And Avery Hall’s riverfront site a few blocks north sold last fall for $5.9 million per acre, a record price in the city.
Graves’ parcel is zoned B-4 Central Business district, which doesn’t restrict building height. Graves said he’d like to find a buyer to take advantage of that designation.
“A thoughtful design and development plan on this site will provide great views of both the James River as well as of the downtown skyline,” he said. “Ideally a development on this site could have a rooftop bar and/or restaurant on the top floor of the building.”
Despite his deal for a grocer falling through, Graves is optimistic that Manchester eventually will lure a food store to set up shop.
“Basically the feedback I’ve gotten is Manchester needs to hit a critical mass of population. Until that happens, grocers are a little gun-shy,” he said. “I think there’s some interest. Maybe I’m too optimistic, but I think it’s not a question of if, it’s a question of when.”
With such a unique spot in Manchester I do hope this building could be higher than 20 stories as a staple to this neighborhood. And im not sure how much more of a population of people are needed to bring in a grocery store or let alone a fuel station but it is desperately needed.
The crime rate in Manchester proper is very low but that of the communities like Hill Street to the immediate south have stymied gas/convenience interest in the area. There’s too much cash and easy access in that business.
“a little gun shy” – I know it’s a metaphor, yet it belies a truth that grocery stores avoid investing in areas with crime.
Yes. There are other things they all avoid: Not enough people nearby. People get all “Food Desert”, like adults are children who can’t get a few miles away from where they live, but the truth is that even in the best of circumstance the margins in this business are RAZOR THIN. That means running a charity when things are merely “okay.” The best of circumstances doesn’t just mean middle class people, nor does it mean no theft, I am not sure that is a thing, it often means that they are the only game in town. A good example is… Read more »
One of my gripes about Manchester is we simply didn’t build tall enough even in recent years. The Riveria, River View, The Jamestown, and 1200 Semmes are all under 5 stories. Even the new Commodore will only be 5 stories with ground-floor retail. I understand this may have been done due to ordinances at the time but it’ll be tough to find critical mass AND reserve land for a massive grocery store in a reasonable area with the lack of height. Hopefully, the old Community Pride site on W 20th will hang around and be secured by a grocer.
I agree. Manchester should go big. It’s really the only place right now that CAN.
The key reason they are five stories or less is wood frame versus steel. Cost goes up significantly once you go above five stories.
Not sure they will ever get a full size grocer like a Kroger or Publix (they take up too much space), but I would think it is getting close to reaching the demand for a Lidl or Aldi. I think of the Aldi near Scotts addition. But then the problem is the price of land that is simply too expensive for a discount grocer such as that. Kind of a chicken and egg conundrum. Getting close to enough people but then that has created too great of a demand for land.
Well there is an Aldi and a Lidl on West Broad near Short Pump. Both sites have got to be very expensive. If the foot traffic is high enough, they could afford it. Regarding Manchester, I think there are at least several apartment coming online or under construction right now. They could easily make a two-story grocery store with underground parking where an apartment building sits on top. There are many examples like that in Northern Virginia and DC. I know the density is significantly higher up there, but that is a design that could maximize the multi-million dollar per… Read more »
Good point. When looking at those sites the assessed acreage is a bit over $1mil/acre. I’m guessing the sale price would be higher both there and here. It would be interesting to see what their breaking point is on new projects. Underground parking is super expensive, but what might be more economical is to have a grocery share the first floor with parking and possibly more parking and residential above that. A very urban model, but the land prices in the area are starting to push for that. Publix in Carytown used a similar model by using the grade change… Read more »
Aldis are run VERY efficiently. Skeleton crew, well paid. Small footprint, limited inventory.
Interesting you mention Lidl on West Broad in Shirt Pump. it closes in a week for good. https://www.wric.com/news/virginia-news/two-virginia-lidl-locations-closing-july-16/?utm_campaign=socialflow&utm_source=facebook.com&utm_medium=referral&mibextid=Zxz2cZ&fbclid=IwAR2vNgcgj_1izgxtChyKRocrZTFKpDW2wCVF0nW8H9mrIYVeWwSMKGAM_5c_aem_AQCjMRnMuCUfJ_DRUad1jgqCqjmjxQ1ChCYw23ruL-nm0LbPSREAw5hshg5Yb7qYOmE
Why are they going for such a huge grocery store? Aim for smaller ones that are more walkable. I think like Manchester could already support two walking-scale grocery stores. Being able to get groceries without a car is the crème de la crème of urbanism.