North Carolina-based developer Hem + Spire bought the six-story building in January 2020 for $1.5 million. Next month’s auction has a starting bid of $450,000.
Downtown office building headed for auction after buyer ‘missed the market’
Mike Platania
Mike Platania joined BizSense in December 2016. He covers commercial real estate, restaurants and breweries. He graduated from Virginia Tech. Reach him at [email protected] or (804) 554-6872.
Assisted living-turned-apartment building in Carytown sells five years after redevelopment
The buyer was Lakeland Capital, which has spent more than $22 million on properties in Richmond since 2022.
Boston firm seals its second $50M deal in Chesterfield in four months
The seller of the 296-unit apartment complex was busy local firm Capital Square, which had bought the property in 2018 for $39.5 million.
Proposed 8-story project could bring a hotel to former Dairy Bar site in Scott’s Addition
The Henrico-based developer that’s planning the project is also in the midst of building a boutique hotel in Charleston, South Carolina.
VCU says work to begin on 42-acre ‘Athletic Village’ this spring
“When folks drive down Hermitage Road come March and April… they’ll see some fences up and they’ll see some signs up for what’s coming,” McLaughlin said. “They’ll see a whole bunch of big machines moving buildings and dirt.”
Manchester’s Hatch Local food hall calling it quits after two years
The closure of the city’s first food hall is set for the spring and comes on the heels of EAT Restaurant Partners scrapping its plans for a similar concept in Scott’s Addition.
Distribution giant US Foods to build chef-centric grocery store in Henrico
Chef’Store offers wholesale groceries and kitchen supplies for those in the restaurant industry as well as home cooks. It’s first Richmond-area store will be built from scratch just off Broad Street.
There’s one part of Mayo Island the city didn’t buy. Meet the guy who owns it.
“I don’t have any problem turning it loose,” said Louis Heindl, who has since the 1970s owned the one piece of the island the city didn’t buy. “If the right offer came along, I would strongly consider selling it.”
Coffee company Roastology to relocate to Scott’s Addition
With its current Cary Street building set to be taken over by an architecture firm, the local coffee roaster is on the move for the third time since its founding in 2012.
Goochland’s Kindred Spirit launching satellite spot in old Castleburg Brewing space in the city
Its Goochland brewery in a business park near West Creek draws plenty of workers from the nearby corporate offices of CarMax and Capital One. With Satellite, the brewery hopes to capture a slightly different market.