Commercial Real Estate

The deal includes an undeveloped parcel that’s nearly 94 acres. It coincides with Weinstein’s nearly $103 million sale of another apartment complex in Chesterfield.

Flagship Healthcare Properties paid $5 million for the building and is under contract to purchase land nearby for a from-scratch medical office development.

With more than 300 units between them, the two projects will add to a residential and commercial corridor that has taken some hits over the past year.

North Carolina-based developer Hem + Spire bought the six-story building in January 2020 for $1.5 million. Next month’s auction has a starting bid of $450,000.

The buyer was Lakeland Capital, which has spent more than $22 million on properties in Richmond since 2022.

Construction of the now-named Riverfront Amphitheater officially kicked off with a ceremony Wednesday that also announced the involvement of Live Nation Entertainment, which will operate the venue with Coran Capshaw’s Red Light Events.

The move to a significantly smaller stomping ground in the Park Central office park reflects the auto insurer’s switch to remote work during COVID that continues today in a hybrid form.

“The university is dedicated to supporting academic freedom, even in instances in which it disagrees with content,” VCU said in a statement released minutes after the poll’s results were disseminated Monday.

The seller of the 296-unit apartment complex was busy local firm Capital Square, which had bought the property in 2018 for $39.5 million. 

The Henrico-based developer that’s planning the project is also in the midst of building a boutique hotel in Charleston, South Carolina.