The credits are rolling for one of Richmond’s last independently owned video rental stores.
The Video Fan will close once owner Doug McDonald finds a new tenant for the building, which he owns. Snipes Properties has the property for lease for McDonald.
Carter Snipes, the leasing agent, said that he has received several offers to buy the building but that McDonald isn’t interested in selling.
The store will be open until the space is leased, Snipes said.
The Video Fan has been in business for almost 27 years, and McDonald has owned it for about 12 years. With its closing, there will be only a handful of video rental stores in Richmond, including Video Mart on Jefferson Davis Highway and Prime Time Video on Patterson Avenue near Gaskins Road.
Blockbuster has closed several locations in Richmond, including the stores in Short Pump and in Carytown.
The 2,200-square-foot Video Fan building is in the heart of the Strawberry Street retail area, next door to 8½ Deli and Strawberry Street Café.
“The corridor in the area is very healthy,” Snipes said. “Video Fan is just facing a lot of industry pressure with online video streaming and other factors.”
According to Loopnet, McDonald is looking for about $11 per square foot/year in rent.
Snipes said that he’s had a lot of interest from restaurateurs but that the space would require a lot of renovation to convert it into a restaurant.
“It would be a significant build-out,” Snipes said. “There isn’t a kitchen, deep sink, walk-in freezer or anything a restaurant would need. So it would take a restaurateur with some capital and some experience to make that work.”
One option that won’t fly with the neighbors is a bar, Snipes said.
“Obviously this is a mixed-use residential and retail area, so the residents would be concerned about any late-night operations. We’re really looking for more of a lunch-dinner cafe operator,” he said.
Read a Q&A with Doug McDonald from 2010 here.
The credits are rolling for one of Richmond’s last independently owned video rental stores.
The Video Fan will close once owner Doug McDonald finds a new tenant for the building, which he owns. Snipes Properties has the property for lease for McDonald.
Carter Snipes, the leasing agent, said that he has received several offers to buy the building but that McDonald isn’t interested in selling.
The store will be open until the space is leased, Snipes said.
The Video Fan has been in business for almost 27 years, and McDonald has owned it for about 12 years. With its closing, there will be only a handful of video rental stores in Richmond, including Video Mart on Jefferson Davis Highway and Prime Time Video on Patterson Avenue near Gaskins Road.
Blockbuster has closed several locations in Richmond, including the stores in Short Pump and in Carytown.
The 2,200-square-foot Video Fan building is in the heart of the Strawberry Street retail area, next door to 8½ Deli and Strawberry Street Café.
“The corridor in the area is very healthy,” Snipes said. “Video Fan is just facing a lot of industry pressure with online video streaming and other factors.”
According to Loopnet, McDonald is looking for about $11 per square foot/year in rent.
Snipes said that he’s had a lot of interest from restaurateurs but that the space would require a lot of renovation to convert it into a restaurant.
“It would be a significant build-out,” Snipes said. “There isn’t a kitchen, deep sink, walk-in freezer or anything a restaurant would need. So it would take a restaurateur with some capital and some experience to make that work.”
One option that won’t fly with the neighbors is a bar, Snipes said.
“Obviously this is a mixed-use residential and retail area, so the residents would be concerned about any late-night operations. We’re really looking for more of a lunch-dinner cafe operator,” he said.
Read a Q&A with Doug McDonald from 2010 here.
He should move the business to Lakeside near Bryan Park. Cheap rent, central location.
I agree. Hopefully he can find a new location. I feel like there is still a niche market for video rental. Redbox and Netflix are so limited. We probably still have 3 good years left before everything is streaming for a price no one can compete with.
This article is not accurate. The Video Fan is NOT closing they are simply trying to rent the upstairs.
-Video Fan employee
From the Video Fan facebook page: “Friends of the Video Fan: we are NOT closing. Maybe someday. Not today. The article in Richmond BizSense is a misrepresentation. What we’re trying to do is rent the upstairs floor of our building to another business. If you know of any interested parties, please feel free to put them in touch. Meanwhile, thank you for your continued support of the Video Fan! We’re renting movies today until 11pm.” Sloppy work, Mr. Larter.
The entire property is actively listed for lease. The Video Fan will continue to operate as stated in the article until a new tenant is procured. The reporting is accurate.
Sounds like VF owner didn’t tell his employee the whole story. hahaha The comments made my day.
Surely this article would have been just as accurate without the “imminent closure” angle, which seems a bit forced. But then a property seems more attractive if the leasing agent can promise the evacuation of the current tenant. And Richmond BizSense garners more attention if it forecasts the demise of a Richmond institution. All of which benefits both parties in terms of eyeballs. Plus those jokes about “rewinding” and “rolling credits” just write themselves.