Commercial Real Estate

VCU reveals plans for grocery store site

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.

The Pipeline: Commercial Real Estate Round up for 4.24.09

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.

More empty stores at area malls

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.

Bobber Flats coming soon to Shockoe

After four months, the wait is over. A mixed-use development will move ahead on East Main Street in Shockoe Bottom.

Two new openings at Westchester Commons

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 strip center sells for $7 million

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.

Strip mall files for bankruptcy protection

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.

Richmond’s piece of the coming commercial real estate shakedown

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 »