The delinquency rate for commercial real estate loans is climbing in Richmond. That could mean more distressed property will hit the market this year as lenders get tougher on borrowers. And that, in turn, could mean a few more bargain-basement prices for investors willing to bet on a recovery.
Commercial Real Estate
‘This one was extra attractive’
A troubled real estate firm has sold a shopping center it owns in Henrico County.
Va. Chamber of Commerce to sell historic headquarters (with parking!)
The business advocacy group is set to outgrow its space.
Lease close on Circuit City headquarters
A commercial real estate landmark in Western Henrico is close to getting a new tenant as a growing employer in Richmond looks to consolidate from three local offices into one.
Restoring faith after French
We’ll know soon enough how long Justin French will spend in prison — what’s less clear is how long it will take Richmond to clean up his mess. For now, the state Department of Historic Resources is taking steps to prevent future abuse of its tax credit program.
Pipeline: Commercial Real Estate Round Up for 1.14.10
Top Gun Motor Sports leased 10,000 square feet at 10471 Cobbs Rd in the City of Ashland. Plus Boushra Mikhael purchased 7,980 square feet at 15 & 23 W. Clopton Street in Richmond from BB&T for $100,000
Internet sweepstakes like their odds
In the face of skepticism and on shaky legal ground, controversial Internet cafes continue to roll the dice and open locations in storefronts across Richmond.
Former halfway house gets its own second chance
An abandoned dormitory on West Grace Street is getting an apartment makeover.
Real estate firm finds new home
Snipes Properties had been displaced by the wake of foreclosures left by developer Justin French.
Banks go after one another in French fiasco
Two more Virginia banks are trying to recover millions squandered on incomplete historic renovations by Justin French. Only this time the banks didn’t lend directly to French.