From apartments to data centers to hotels, the region’s commercial development market experienced exceptional growth across many sectors in 2019.
Riding high: Richmond’s commercial development year in review for 2019
Commercial Real Estate
Salomonsky sells Shockoe Slip apartments building for $8M
Through a chance encounter and a 1031 exchange between two generations of Richmond property owners, one of the oldest buildings in Shockoe Slip and among the first to be converted to apartments has changed hands in a multimillion-dollar deal.
Alamo BBQ owner buys Church Hill property; opens new joint in the neighborhood
Local pit master Chris Davis hit two milestones in Church Hill in recent months.
D.C. firm to relocate HQ to Richmond; taking entire building in Sauer Center
The Whole Foods-anchored development from the Sauer family continues to fill out, with a tenant taking over an entire building at 840 Hermitage Road.
600-home Courthouse Landing project gets thumbs down in Chesterfield
A 122-acre project that would add a hotel and a mix of commercial and residential development near the Chesterfield County courthouse received an initial “no” vote from the county’s Planning Commission this week.
Women’s physician group plans $19M expansion in Midlothian
The Virginia Physicians for Women is moving its administrative headquarters, surgical center and Midlothian clinic into a new 60,000-square-foot medical office near Chesterfield Towne Center.
Hild properties fetch $4.7M at auction
The biggest sale of the bunch was that of an old bank building at 1518 Hull St., which went to local developer Josh Bilder for $1.6 million. The old Lighthouse Diner building also sold.
X-Golf simulator venue taking shape in Westchester Commons
Two brothers, graduates of UR and JMU, are bringing an X-Golf franchise to the Chesterfield shopping center. It features simulators, along with food and a full bar.
Loupassi sells Broad Street site for $5.4M
Seasoned developer Steve Leibovic is the buyer for the nearly 2-acre assemblage, which for now is home to tenants such as Gusti Restaurant Equipment & Supply.
Updated: VUU pays nearly $3M for motel site; mixed-use building, hotel considered
With the purchase, VUU President Hakim Lucas said, “We have said that we now control our environment, that we are going to be a player in the city, that someone else is not going to dictate how we expand and not going to dictate our future.”