Thalhimer reports Trustworth Properties LLC purchased the 10-unit apartment building at 12 E. Main St. in Richmond for $1 million from Main Street Investments LLC. AECOM Technology Corporation, a multinational environmental consulting firm, has leased 85,000 square feet at 4840 Cox Road in Henrico. Virginia Schools of Technology leased 31,500 square feet at 2000 Westmoreland… Read more »
Commercial Real Estate
Polluted Henrico parcel gets makeover
A site in Henrico County is slated for commercial development almost 30 years after being identified by the Environmental Protection Agency as a threat to public health. Virginia Beach-based Empire Development purchased 3.85 acres of the Rentokil Superfund site near the intersection of Parham Road and Ackley Avenue for about $400,000 last year from Virginia… Read more »
The Pipeline: Commercial Real Estate Round Up for 2.13.09
Grubb & Ellis Harrison & Bates report Magan & Sons, LLC purchased a 1.48-acre parcel at Short Pump Town Center in Henrico for $1.2 million. The buyer plans to develop a hotel on the site. Porter Realty reports SunTrust bank leased 100,000 square feet of warehouse space at 4201-4221 Carolina Avenue in Henrico County. CB… Read more »
2008’s top commercial projects
The Greater Richmond Association for Commercial Real Estate has announced the finalists for their Eighth Annual Real Estate Star Awards. The awards honor the top real estate projects in the Richmond region in eight different categories. A ninth award will be given for best overall project. Last year’s overall winner was awarded to the State… Read more »
Construction slowing even more
Construction activity is slowing at an increasing rate in Richmond, leading to more layoffs, longer pay terms and downward pressure on the prices subcontractors can charge. For the first time in recent memory, builders say foreign laborers are also starting to return to their countries of origin. In January, builders filed 123 residential building permits… Read more »
S&K tries to find savings with Chapter 11 filing, hopes to be out in 60 days
Richmond-based men’s clothier S&K Famous Brands Inc. is hoping a quick detour into bankruptcy court can help the company fit into a new business model with fewer stores and lower overhead.
The Pipeline: Commercial Real Estate Round Up for 2.05.09
REM Properties purchased the Shoppes at Bell Creek from private investors for $9.5 million. The 65,800-square-foot shopping center is located on Bell Creek Road in Mechanicsville. It was constructed in 2003. Grubb & Ellis Harrison & Bates reports that Pine Dell Shopping Center LLC purchased the 16,000-square-foot Pine Dell Shopping Center from Pine Dell Corp… Read more »
Foster’s Grille Closed, New Irish Pub To Take Place
Burger joint Foster’s Grille at the Shoppes At Innsbrook has closed. Open for only about a year, the Innsbrook location had a big lunchtime crowd, but didn’t seem to have many customers for dinner. The spot won’t stay vacant for long, though.
Office vacancy up at Innsbrook, down in the City
The vacancy rate at Innsbrook and nearby office parks continued to rise last quarter, and, with several big chunks set to come available this year.
The Pipeline: Commercial Real Estate Round Up for 1.29.08
The Citgo service station at 2206 W. Main St. in Richmond’s Fan District has been purchased by Uphoff Properties LLC from TLC Co. for $2.5 million. The property includes a retail store of 2,700 square feet and a half acre lot.