Commercial Real Estate

The purchase would expand the university’s nearby academic medical center campus. It also could take the currently revenue-generating property off Richmond’s tax rolls.

“To be able to hand it off to them is a lot easier than if another company came in and bought it,” said longtime owner Gib DeShazo. “I’ve seen them grow over the years and for a lot of our clients, they are the face of Emerald.”

The first-phase farm is the start of what’s envisioned as a $300 million, multi-farm complex on a 120-acre campus in Meadowville Tech Park.

The dispute centers on county supervisors’ rejection last November of a rezoning for Summerlyn, a $27 million project by Larry Shaia and Jesse Lennon that would have been Hanover’s first 55-and-up rental community.

Charlie Diradour’s Lion’s Paw Development is planning a three-story building with 14 apartments above ground-floor commercial space on a parking lot next to the Robinson Street Starbucks.

Some of the building’s 275 apartments will offer a view of the city’s new baseball stadium, as well as eclectic amenities such as a podcast recording studio and a speakeasy that’s hidden behind a moveable bookshelf. 

The Capital City Physicians Building is at least the third distressed local office property Gagan Marwaha has snatched up in recent years.

Included in the deal was 398,000 square feet of retail space that’s occupied by tenants like Publix, Burlington and JCPenney. Not included were tenant-owned anchor buildings housing Target, Lowe’s and a T-Mobile call center, as well as outparcels on Laburnum.

The two five-story projects would add dozens of new apartments along a stretch of Broad that serves as a gateway between Shockoe Bottom and Church Hill.

The 266-unit project from Tennessee-based developer Elmington has the special-use permit it needs to proceed on a 7-acre site on McDonough Street.