A parking lot next to Shockoe Bottom’s most notorious nightclub is getting a $22 million makeover.
Developer plans to raise the roof next to nightclub
Commercial Real Estate
Richmond developers bet big on small town
A local investment group that includes some longtime Richmond developers is planning a $28 million hotel project in Staunton, and the project is named after one of Virginia’s early architects.
Developers bank on skyscraper rehab
The First National Bank building downtown and its neighbor are being converted into 154 apartments as part of a $30 million project.
Two signs out front: ‘Vacancy’ and ‘Sold’
An out-of-state investor hopes to turn around a distressed Mechanicsville shopping center for which he paid less than half the assessed value.
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.