Lagging attendance, sponsorship losses, and the auto meltdown in Detroit hover over NASCAR, but the Sprint Cup race this weekend at Richmond International Raceway will still have a huge economic impact on the area. There will be as many as 4,000 people working at the raceway complex over the weekend; the traveling vendors are still… Read more »
Commercial Real Estate
VCU reveals plans for grocery store site
The empty grocery store and parking lot at Grace and Harrison streets could soon be converted into classrooms and library storage for VCU, according to the school’s facility manager.
The Pipeline: Commercial Real Estate Round up for 4.24.09
Q-T Realty purchased the 18,000-square-foot office/warehouse at 10520 Lakeridge Parkway in Hanover for $1.2 million. Trimble Properties purchased the 6,000-square-foot office/warehouse at 11029 Richardson Road in Hanover for $650,000.
More empty stores at area malls
Dozens more retailers have disappeared from local malls in the past six months. About 15 percent of the storefronts in Richmond’s six largest malls are vacant.
Bobber Flats coming soon to Shockoe
After four months, the wait is over. A mixed-use development will move ahead on East Main Street in Shockoe Bottom.
Retailers combine forces as Carytown vacancies rise
Vacancies are on the rise in Carytown, and some businesses have joined together to save money and boost income.
Two new openings at Westchester Commons
Movie buffs and those with buff bodies now have two new haunts at Westchester Commons near the intersection of routes 60 and 288 in Chesterfield County.
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.
The Pipeline: Commercial Real Estate Round up for 4.3.09
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.