The building splits the Richmond-Henrico line near Topgolf. (Mike Platania photo)
A warehouse in Henrico’s Westwood area that was set to become Scott’s Addition-esque modern office space is now heading back to its industrial roots.
Earlier this month 2117 Westwood Ave. sold to HVAC firm Hoffman & Hoffman for $4.3 million.
Based out of Greensboro, North Carolina, Hoffman & Hoffman has been operating in the Richmond region since the 1990s, offering commercial HVAC sales and service.
It’ll be leaving its current local headquarters at 2104 W. Laburnum Ave. for the Westwood building. The company and its local staff of around 23 are aiming to move in early 2025 following a renovation of the space.
Once a warehouse for an electrical supply company, the 30,000-square-foot building had been eyed for an office conversion by Jay Nichols last year. Nichols’ family previously owned HandCraft Cleaners and in the mid-2010s successfully redeveloped the dry cleaning company’s Scott’s Addition facility into a commercial hub with hospitality tenants such as Stella’s Grocery and Väsen Brewing Co. and office users like Brandito and Fahrenheit Advisors.
The Westwood building was planned to be renovated similarly, but its sale marks the end of those plans. Nichols, who declined to comment for this story, bought the building from Atlantic Electrical in 2021 for $3.8 million.
The interior had been gutted by Nichols. (BizSense file photo)
The 2-acre site, which sits next to the Carvana car vending machine and Topgolf, splits the Richmond-Henrico County line, with the majority of the property in the city.
The sale closed Aug. 6 in two separate deals: one in Richmond for $3.8 million and the other in Henrico for $550,000. The localities most recently assessed the property at a combined $2.9 million.
Charlie Black, Hoffman & Hoffman’s local branch manager, said the company is thrilled to continue investing in Richmond.
“(Richmond is) a key market for us. We’ve added a lot of people to our team in Richmond, and we need the space to continue growing,” Black said.
Hoffman & Hoffman is not related to Hoffman Associates, the D.C.-based developer with whom Nichols is also working on a deal in Scott’s Addition.
Hoffman Associates, whose work includes the massive riverfront development The Wharf in D.C., is planning to build a $133 million, six-story apartment building on a piece of Nichols-owned land at 3200 W. Moore St. As of late last month, that deal was still in the works.
The building splits the Richmond-Henrico line near Topgolf. (Mike Platania photo)
A warehouse in Henrico’s Westwood area that was set to become Scott’s Addition-esque modern office space is now heading back to its industrial roots.
Earlier this month 2117 Westwood Ave. sold to HVAC firm Hoffman & Hoffman for $4.3 million.
Based out of Greensboro, North Carolina, Hoffman & Hoffman has been operating in the Richmond region since the 1990s, offering commercial HVAC sales and service.
It’ll be leaving its current local headquarters at 2104 W. Laburnum Ave. for the Westwood building. The company and its local staff of around 23 are aiming to move in early 2025 following a renovation of the space.
Once a warehouse for an electrical supply company, the 30,000-square-foot building had been eyed for an office conversion by Jay Nichols last year. Nichols’ family previously owned HandCraft Cleaners and in the mid-2010s successfully redeveloped the dry cleaning company’s Scott’s Addition facility into a commercial hub with hospitality tenants such as Stella’s Grocery and Väsen Brewing Co. and office users like Brandito and Fahrenheit Advisors.
The Westwood building was planned to be renovated similarly, but its sale marks the end of those plans. Nichols, who declined to comment for this story, bought the building from Atlantic Electrical in 2021 for $3.8 million.
The interior had been gutted by Nichols. (BizSense file photo)
The 2-acre site, which sits next to the Carvana car vending machine and Topgolf, splits the Richmond-Henrico County line, with the majority of the property in the city.
The sale closed Aug. 6 in two separate deals: one in Richmond for $3.8 million and the other in Henrico for $550,000. The localities most recently assessed the property at a combined $2.9 million.
Charlie Black, Hoffman & Hoffman’s local branch manager, said the company is thrilled to continue investing in Richmond.
“(Richmond is) a key market for us. We’ve added a lot of people to our team in Richmond, and we need the space to continue growing,” Black said.
Hoffman & Hoffman is not related to Hoffman Associates, the D.C.-based developer with whom Nichols is also working on a deal in Scott’s Addition.
Hoffman Associates, whose work includes the massive riverfront development The Wharf in D.C., is planning to build a $133 million, six-story apartment building on a piece of Nichols-owned land at 3200 W. Moore St. As of late last month, that deal was still in the works.
Given the article picture indicates the previous owner gutted the building and that cost monies), I would say there wasn’t much of a profit on that one. One off or signs of a big change in the market?