Commercial Real Estate

Despite uncertainty about The Diamond, developers are continuing to revamp the stretch of Boulevard surrounding it, and a new Wawa gas station is the next project in line.

Keeping a recent spree of apartment sales going into 2016, a 40-unit Museum District property sold for $7.6 million after about six months on the market.

The area’s biggest hotel owner has grabbed yet another property near the airport and is planning to bring a major brand back to the hotel after it lost its Hilton status last year.

A locally based firm has sold off a Food Lion-anchored shopping center in Henrico County to a pair of out-of-town buyers for $5.28 million.

Freeing up 325,000 square feet of space, Macy’s is shutting down its locations in two local malls as part of a larger sweep to cut costs nationwide.

Surpassing its original $25 million goal, the private equity firm has capped another capital raise and will turn the money first toward a mixed-use project in North Carolina.

After finally securing needed financing for the project, the owners of a low-income senior housing building on West Broad Street are beginning work to revamp its 100 units.

2015 brought big development to the Richmond area, with huge property deals, long-awaited developments wrapping up and ground breaking on new projects to watch in 2016.

A firm that also scooped up a VCU-area apartment complex earlier this year has bought two more properties on East Broad and East Main streets from their local developer.

In the second of four big office deals in the downtown market, the BB&T-anchored Riverfront Plaza property was sold to a California firm for $147.5 million.