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.
Commercial Real Estate
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.
Q-T Realty LLC purchased the 18,000 square foot flex building at 10520 Lakeridge Parkway in Ashland for $1.2 million from sellers Frederick and Margaret Reames. The buyer does business at Milos America, Inc, a manufacturer of aluminum trusses.
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 »
Powertrain Control Solutions, leased 18,000 square feet at 11228 Hopson Road in Hanover. Woodcraft, a wood-working retail store, leased 10,000 square feet at 9862 West Broad Street in Henrico.
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 »
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 »
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.
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.
CB Richard Ellis reports Transtar Industries, a Cleveland-based auto parts distributor, leased 12,800 square feet at 2044 Westmoreland Street in Henrico.