Commercial Real Estate

A pair of experienced local restaurant owners is the latest to take the leap into Scott’s Addition. Jay Shah and Joel Gilbert purchased the former SunTrust Bank branch at 3022 W. Broad St. on Feb. 16 for an undisclosed sum. Shah, an executive at locally-based Shamin Hotels, said he and Gilbert are still deciding what to… Read more »

The outlook looks strong, though maybe not very strong, for Richmond’s commercial real estate market. That was the general consensus from the panel at Greater Richmond Association for Commercial Real Estate’s 2016 Market Review event Tuesday evening. Held at the Westin on West Broad Street, the annual event was a record-breaker for GRACRE this year… Read more »

Years after the economy slowed the development to a crawl, Midlothian-based Riverton Associates is about to finish up Winterfield Place with a project that’s the first of its kind in Powhatan County. Riverton, led by developer Casey Sowers, received zoning approval this month for phase two of Winterfield Place, a collection of residential neighborhoods and… Read more »

A West End shopping center has been snatched back by its lender. Financial giant AIG took control of the 90,000-square-foot Deep Run Centre during a foreclosure auction on Jan. 26. The strip center is located at 3955-3979 Deep Rock Rd., just off West Broad Street to the east of Innsbrook. It fell into foreclosure after… Read more »

The convenience store mogul behind the Uppy’s chain has sold off a large batch of his area properties for nearly $40 million as he turns to a new business venture in Florida.

After circling the downtown market, the used car giant is parking in a historic building on the canal, and it’s planning to bolster its local employee count.

The Bank of America Center’s sale has been closed at about $42 million, the fourth major downtown office deal in the past couple of months.

After decades in the suburbs, a local Fortune 500 is adding a downtown office space it hopes will attract new tech-savvy talent. CarMax has signed a lease with Fulton Hill Properties for a 26,000-square-foot space in the Lady Byrd Hat factory building at 140 Virginia St. The space, which previously housed the music venue Toad’s… Read more »

A 40-unit property on Chamberlayne Avenue has been sold of to a New York firm, the third Northside apartment deal for the company in the past year.

A stalled Manchester development is looking to gain momentum with a new owner, just as a massive Henrico County apartment complex has landed on the market. A 2.3-acre property at 1701 Stonewall Ave., once earmarked for the Manchester on the James development, has been relisted by its current owner with a $2.3 million asking price…. Read more »