The empty grocery store and parking lot at Grace and Harrison streets could soon be converted into classrooms and library storage for VCU, according to the school’s facility manager.
Commercial Real Estate
Q-T Realty purchased the 18,000-square-foot office/warehouse at 10520 Lakeridge Parkway in Hanover for $1.2 million. Trimble Properties purchased the 6,000-square-foot office/warehouse at 11029 Richardson Road in Hanover for $650,000.
Dozens more retailers have disappeared from local malls in the past six months. About 15 percent of the storefronts in Richmond’s six largest malls are vacant.
After four months, the wait is over. A mixed-use development will move ahead on East Main Street in Shockoe Bottom.
Vacancies are on the rise in Carytown, and some businesses have joined together to save money and boost income.
Movie buffs and those with buff bodies now have two new haunts at Westchester Commons near the intersection of routes 60 and 288 in Chesterfield County.
Midlothian Center, on Wadsworth Drive in Chesterfield County, was purchased by a private investor for $7 million in cash. The seller was Allied Capital REIT, based in Washington.
A Chesterfield shopping center has filed for Chapter 11 bankruptcy protection. Rockwood Square LLC, which owns the Rockwood Square strip mall on the 10,000 block of Hull Street (near the corner of Courthouse) filed for bankruptcy protection late last week.
Q-T Realty LLC purchased the 18,000 square foot flex building at 10520 Lakeridge Parkway in Ashland for $1.2 million from sellers Frederick and Margaret Reames. The buyer does business at Milos America, Inc, a manufacturer of aluminum trusses.
Riverside on the James, Richmond’s FBI Headquarters on Parham, a former Circuit City headquarters building. All three are among the local properties that have large commercial mortgages coming due in the next two years. Between now and the end of 2010, there are 27 CMBS loans coming due in the Richmond metropolitan area with $178.2… Read more »