An out-of-state investor hopes to turn around a distressed Mechanicsville shopping center for which he paid less than half the assessed value.
Two signs out front: ‘Vacancy’ and ‘Sold’
Commercial Real Estate
The Pipeline: Commercial Real Estate Roundup for 1.13.12
Lots of industrial deals. Plus a small building near Forest Hill Ave. changed hands, and yet another frozen yogurt shop.
Commercial delinquencies on the rise
The value of troubled commercial mortgage-backed securities rose about 26 percent in 2011 for the Richmond area, as landlords with more vacancy and lower rents had trouble refinancing loans that came due.
Fla. REIT sells local buildings
A deal to sell five Richmond office buildings was announced last week as a Florida REIT is unloading the last of its local real estate holdings.
The Pipeline: Commercial Real Estate Roundup for 1.6.12
A handful of sales plus lots of retail leasing. And a laboratory that studies tobacco leased 50,000 square feet in Henrico.
The Flats up for sale
The apartments at a popular mixed-use development in Short Pump are for sale.
Union wins judgment against Fergusons
Because they lied about their net worth on loan applications, a prominent bankrupt local couple will stay on the hook for $800,000 even after they exit bankruptcy.
Development delays put a damper on major events
The $70 million restoration of the iconic John Marshall Hotel has fallen months behind, leaving several brides scrambling for backup venues to host their big days.
Stalking horse reappears in the homestretch
A three-hour bidding war broke out Tuesday over the former headquarters of a bankrupt local tech company.
Bankruptcy case takes strange twist
Part of an aging shopping center is going up for auction next week after its owner skips town.