Commercial Real Estate

A faction of industry veterans, including Joe Marchetti and Todd Willett, launched their new firm last week.

Unkindness Art is relocating its tattoo parlor and planning to open an art gallery and shop dubbed Nevermore in the two buildings its owner bought last month.

The long-planned project will bring hundreds of residences, at least 250,000 square feet of commercial space and a hotel to the roughly 124-acre site at the intersection of Courthouse and Iron Bridge roads.

With another Richmond Folk Festival in the books, work is about to get rolling on the $30 million Richmond Amphitheater project from Coran Capshaw’s Red Light Ventures.

Emails show that the exit payment offer was at one point as high as $142 million, before the health system and its landlord settled on $72.9 million.

The construction consulting firm had a hand in building the homes of the Miami Heat and Brooklyn Nets and has hired an industry veteran to launch its local operations.

After more than a decade of steadily acquiring properties in Richmond, the D.C.-based firm recently found itself on the selling side of the negotiating table for one of its downtown buildings. 

The 266-unit, market-rate complex sold for $50.9 million, or $191,000 per door. It last sold for $30 million three years ago.

A stretch of the city’s Northside is continuing to attract developer interest, as a mystery group is looking to bring 10 floors of new construction to the neighborhood. 

The Fortune 500 food distribution giant is up and running at its newly built 332,000-square-foot sales and distribution center at 10399 Washington Highway.