Hanover County purchased a 14,400 square feet flex condo unit at 9732-9742 Atlee Commons Road in Hanover for $1.7 million. The Witmeyer Law Firm leased 1,920 square feet at 10035 Sliding Hill Road in Hanover.
Commercial Real Estate
After years of hype and decades of false starts, construction has started on a $66 million renovation of the iconic Hotel John Marshall. Crews are assembling the fence around the site, and demolition workers are taking out the old furniture.
Smurfit-Stone Container Enterprises Inc. purchased the 315,696 square foot industrial building at 5710 S. Laburnum Avenue in Richmond from Stanley Works Inc for $6.08 million.
The commercial real estate market has slowed down over the last couple of years, but that didn’t stop hundred of professionals from gathering last night to celebrate the best new projects in the Richmond at the annual GRACRE awards.
Acosta Sales and Marketing Company leased 11,300 square feet in Henrico. GTAT Enterprises Inc. leased 3,810 square feet on Alverser Drive in Chesterfield and Advanced Auto leased a new location on W. Broad St.
As long as developers built new strip centers along the region’s major thoroughfares, such as Mechanicsville Turnpike, shoppers would come a-spending. Or so it seemed. Now retailers are signing leases again.
Over the last two years office vacancy has crept up as companies have moved, downsized or closed their doors. And they often times leaving their furniture behind. That has created a nifty incentive for landlords and made life much easier for tenants who don’t want the extra hassle/headache of finding furniture and getting it into the space.
The warehouse section is being razed to make way for parking for a new for-profit school, Stratford University.
The recession has not been kind to Carytown, Richmond’s historic shopping district. But a host of businesses are opening where others failed. Here is a slideshow that highlights a few of the recent additions and departures, as well as some changes to the scenery.
Two hundred acres of farmland with a stretch of James River waterfront will be auctioned off March 25, the result of a foreclosure of one of Richmond’s biggest home builders.