Commercial Real Estate

Local firm sues art museum architects

Hankins & Anderson says it was shorted hundreds of thousands of dollars for work on the newly renovated Virginia Museum of Fine Arts.

Pipeline: Commercial Real Estate Round Up for 2.25.11

A closed Steak & Ale restaurant on West Broad was sold, while the Leukemia & Lymphoma Society leased 3,500 square feet and The National White Collar Crime Center leased 16,000 sf. And a small law firm leased 1,000 square feet on Monument Ave.

Nothing golden about it

A Chesterfield housing development that caters to senior citizens has fallen, and it can’t get up. And now the few residents of the unfinished neighborhood are hoping a new developer comes in to help revive the stalled project and revive their dreams of a stress-free retirement.

Forecast for how local CMBS loans will play out: hazy

The delinquency rate for commercial real estate loans is climbing in Richmond. That could mean more distressed property will hit the market this year as lenders get tougher on borrowers. And that, in turn, could mean a few more bargain-basement prices for investors willing to bet on a recovery.

Restoring faith after French

We’ll know soon enough how long Justin French will spend in prison — what’s less clear is how long it will take Richmond to clean up his mess. For now, the state Department of Historic Resources is taking steps to prevent future abuse of its tax credit program.