Commercial Real Estate

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 »

Commercial sales activity slips into hibernation

Who will budge first? Buyers and sellers of commercial real estate are locked in a game of chicken. But someone is going to have to budge, or deal volume will remain dreadfully low. And with commercial loans coming due and other commercial real estate investment groups needing to raise cash, some experts hint that it… Read more »

The Pipeline: Commercial Real Estate Round up for 3.20.09

Evergreen Enterprise Inc., a distributor of home and garden products, leased 44,000 square feet at 4551-4593 Carolina Ave in Henrico. CB Richard Ellis reports Cigna Companies, a provider of employee benefits, leased 16,000 square feet at 901 E Cary St. in Richmond. Thalhimer reports Red, Hot and Blue, a barbeque restaurant chain, leased 5,000 square… Read more »

Medical supplier increases its footprint

It’s gotta be the shoes. As a podiatrist in Bethesda, Md., Dodd Levy found that many of his diabetic patients had problems finding the proper shoe. Diabetics suffer from poor circulation, which can lead to a loss of sensation. In the wrong shoe, feet deteriorate with sores that sometimes lead to amputation.

VCU residences sell for $19.3 million

Two large residential buildings on Virginia Commonwealth University’s Monroe Park campus have sold for $19.3 million. RAMZ Hall and Capital Garage were acquired by Kayne Anderson Real Estate Partners,  a private equity investment group based in New York, from ING Real Estate.