A lender is forcing a foreclosure sale for part of a massive mixed-use project in Chesterfield County.
Deja vu all over again: Anderson Strudwick deal off
An out-of-state brokerage’s bid to buy Anderson Strudwick has been called off.
Hurry up and wait: How much will LandAmerica’s 1031 customers recover?
The saga keeps getting worse for 450 former LandAmerica customers who last fall tried to complete a simple real estate deal and now can’t get funds they thought would be safely held for a few months by the formerly Richmond-based Fortune 1,000 company.
New lease on life for Cold Storage plant
The first of five turn-of-the-century industrial buildings to be turned into apartments is six weeks away from completion. The development is a $50 million project of Historic Housing, the same group that developed 17th Street Lofts and The Lofts at Canal Walk. The apartments start at around $900 a month.
Asking for change in response to panhandling
Local businesses, in particular retailers, say panhandlers scare off customers, even if there is no threat to safety. And a growing homeless population can also be a blemish for economic developers trying to show off the region. To combat the problem, the nonprofit group Homeward launched a three-month campaign Monday to remind residents that handing over spare change might not be the best way to help.
New ABC program may eventually soften the hated 45% ratio
The often-ridiculed law that requires restaurants to sell a minimum dollar value of food based on liquor sales has shown extraordinary staying power, in part because a powerful beer and wine lobby opposes upsetting the status quo.
But one law based on House Bill 2293, could make things easier for restaurant owners who want to sell high-quality liquor by allowing restaurants to calculate their ratio based on the volume of liquor sold, not by the dollar figure as is currently done.
No relief in sight for office vacancy
No matter how you slice it, office vacancy rates are climbing in Richmond. And true to supply and demand, landlords are getting more and more generous with freebies such as up to six months free on a long-term lease to lure tenants.
Q&A: Rewriting role of Va.’s film industry
Virginia Film Commissioner Rita McClenny is trying to keep the momentum going, perhaps by bringing Steven Spielberg to the state. But McClenny says that without government funding for attraction programs, Virginia is not competitive enough with other states that do have lucrative incentive programs.
Local firm makes big impact turning profits into donations
Richmond-based Impact Makers is a company without an owner and in CEO Michael Pirron’s eyes that is just fine.
The Pipeline: Commercial Real Estate Round Up for 5.8.09
R.E. Michel Company, a wholesale HVAC distributor, purchased the 20,500-square-foot industrial property in Chesterfield from K.B. Properties LLC for $1.625 million. R.E Michel, plans to relocate their distribution operations to this location. Andrew Todd Properties LLC purchased the 5,900-square-foot office building at 2310 W. Main St. in Richmond from Rich 6 LLC for $402,500.