After years of leasing space for its Richmond operations a Virginia Beach-based drywall company has become its own landlord in the city.
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The HVAC company bought the property at 3106-3206 Lanvale Ave. for $6.8 million from Power Systems & Controls, which moved to the former Cadmus Specialty Publications facility.
A redevelopment of 1616 Summit Ave. into a mixed-use project would add four condos and restaurant space at the intersection with Norfolk Street.
North Carolina-based Hem + Spire bought the fully occupied, 116,000-square-foot mixed-use building at 1300 MacTavish Ave.
The Mediterranean-style eatery is the brainchild of local industry veterans John Reynolds and Steve DeRaffele.
The revisions emphasize the city’s TOD-1 and mixed-use zoning districts and set the stage for a long-anticipated RFP for The Diamond.
The funding round comes about a year after it relocated from a 1,200-square-foot space in Manchester to a 6,000-square-foot office at 1810 Mactavish Ave.
A marketing flyer touts a seven-story, 100,000-square-foot mixed-use project called Leigh Addition by Washington, D.C.-based Level 2.
An entity tied to the parent company of Travis Kalanick’s Cloud Kitchens paid $750,000 for the building at 2812 W. Broad St. next to the Hofheimer Building.
The industry was decimated by the pandemic but “it has come roaring back in the last six weeks,” the new owner of Prop Shop Party Rentals said, and he needed more labor.