A former lawyer-turned-developer is getting more ambitious in the historic tax project, apartment conversion game. This time he has his sights on turning an office building in Richmond’s near West-End into 88 apartment units.
Commercial Real Estate
Down but not out
A longtime local real estate developer is dealing with the boom-bust hangover, battling with former investors and banks and stepping down temporarily as chairman of a real estate development that bears his name.
Markel buys half of local private equity fund
An arm of a local insurance giant has invested in a Richmond-based private equity fund that buys distressed real estate projects with the goal of fixing the management, injecting more money and coming out with a handsome return.
CRE tidbits
A local real estate firm has launched a new website, and another national firm with a local presence has opened a Hampton Roads office.
First Capital decides to stop renting
First Capital Bank has become the proud owner of its Innsbrook corporate headquarters after leasing space there for five years.
From the NFL to a collegiate theme
A hotel restaurant in Henrico County is no longer branded under the Shula’s name.
Real estate brokers find bargains for themselves
Two of Richmond’s biggest commercial real estate firms will soon be packing up and moving to new headquarters.
Does a burrito = a hamburger = a sandwich?
A cold cut war between a local sandwich shop and its non-responsive landlord has been settled after more than two years of battle. During the height of the conflict, the landlord would not call back or respond to more than 10 letters. So the tenant stopped paying rent for about a year.
The Pipeline: Commercial Real Estate Round Up for 5.14.10
Thalhimer reports the following deals: Planned Furniture Promotions leased 25,000 square feet at 3035 Transport Street in Richmond. County of Henrico leased 10,000 square feet in Gaskins Centre Building III at 9878-9898 Mayland Drive in Henrico. Sleepys, LLC leased 8,300 square feet at Westchester Commons, Rt. 288 at Midlothian Tnpk., in Chesterfield. CB Richard Ellis… Read more »
Rocketts Landing building fills up
With two new tenants signing leases for first-floor space, one of the mixed-use buildings at Rocketts Landing is, commercially speaking, fully leased.
