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 »
Commercial Real Estate
The Pipeline: Commercial Real Estate Round up for 3.20.09
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 »
Medical supplier increases its footprint
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.
VCU residences sell for $19.3 million
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.
The Pipeline: Commercial Real Estate Round up for 3.13.09
CB Richard Ellis reports Transtar Industries, a Cleveland-based auto parts distributor, leased 12,800 square feet at 2044 Westmoreland Street in Henrico.
The lonesome Toad’s Place blues
Like the main character in a country music song, Toad’s Place just got the boot from its landlord. It’s not clear exactly how much back rent the Shockoe Slip venue owes, but it typically takes at least three or four months of missed rent before a commercial property owner evicts a tenant. Sources familiar with… Read more »
Fee dispute at West Broad Village resolved
West Broad Village developer Unicorp and Henrico County officials have reached a resolution to their dispute about the cost of water and sewer connections at the development.
The Pipeline: Commercial Real Estate Round Up for 3.4.09
Vangent, a global information management firm, leased 123,000 square feet at 701 Liberty Way in the Chesterfield, reports CB Richard Ellis. Grubb & Ellis|Harrison & Bates reports Allen Corporation of America, a Fairfax-based technology firm, leased 11,600 square feet at 16031-16035 Continental Boulevard in Chesterfield.
The Pipeline: Commercial Real Estate Round Up for 2.27.09
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 »
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 »