The Flats at West Broad Village set a high watermark with a $111 million price tag, while two other large apartment deals closed for $85 million and $44 million.
The latest deal involved nine properties, but the bulk of the Eck family’s 150-plus property portfolio remains under contract to be sold to a single mystery buyer.
The nearly 60-year-old shopping center at 2314 Hungary Road is being torn down to make way for a dozen buildings with retail and 350 apartments.
Out-of-town developers bought the Trane Supply warehouse for $14.1 million and the Genito Crossing Shopping Center for $8.2 million.
More than a dozen apartments plus commercial space would rise at 210 W. Marshall St. if the property owner gets approvals from the city.
The nearly 2-acre plot is currently used as a UPS logistics center but is under contract to be sold and in the midst of a rezoning application.
“We’re looking at the whole concept for the five acres as something like a LaDiff village,” co-owner Andy Thornton said of the furniture retailer’s future home on Commerce Road.
“Bottom line, it’s not strategic for our success,” said CEO Lee Warfield. “Sometimes you let things linger too long, and we decided not to do that in this case.”
Richmond’s master plan calls for the 67-acre, largely city-owned assemblage along Arthur Ashe Boulevard to have a mix of uses.
Another piece of Short Pump Town Center has changed hands – but this time it was dirt that was the subject of the deal.