Commercial Real Estate

The deal adds to more than $300 million worth of industrial sales in eastern Henrico in the last few months.

Transaction volume in the region’s multifamily real estate market seems to be continuing to pick up momentum as a Southside apartment complex fetched eight figures just before the calendar turned over. 

Franchisee Lou Cabral also is seeking zoning approval for a spec office or commercial building at the site a few blocks west of Regency.

The fully leased 14-building property spans 55 acres northwest of the Topgolf off Westwood Avenue and totals around 642,000 square feet in buildings that were developed throughout the 1980s and 90s.

The filing was made two months after Chris Harrison’s indictment on federal embezzlement charges, and three weeks after Virginia Housing sought to put the property under receivership.

The news of Whole Foods signing on as an anchor tenant follows developer SJC Ventures’ $16 million acquisition of the 13-acre project site at the corner of Midlothian Turnpike and Alverser Drive.

The yearslong transformation of Regency continues, with hundreds more apartments underway and a change in plans for what was supposed to be a new food hall at the ever-evolving Henrico mall. 

Baltimore-based Greenberg Gibbons envisions 975 apartments, 200 for-sale residences, more than 500,000 square feet of commercial space, and 425 hotel rooms across the 45-acre campus.

Don’t miss this recap of the year’s largest and most noteworthy commercial real estate projects and trends, spanning from the city and into the counties.

The total price tag of the 10 richest transactions in 2024 came in at $835 million, on par with the cumulative value of 2023’s biggest deals.