CBRE

So long, SportsQuest

sportsquestgrounds

The new owner of the unfinished Chesterfield sports complex has renamed the project and hired a commercial brokerage firm to manage operations.

Saved from the wrecking ball

SouthCanalLoft

A pair of developers just paid $800,000 for a riverfront parcel along the floodwall in Manchester, saving an old paper mill from demolition.

Retail vacancy continues to rise

Vacancy for retail space in Richmond rose to almost 7 percent at the end of the second quarter. And that could mean banks might soon start taking back some retail properties if tenants don’t start signing leases soon. Meanwhile tenants who do sign leases are getting bigger discounts than six months ago.

Commercial brokerage disbanding

Seven GVA Advantis brokers left the troubled firm last week and are starting an affiliate of a new firm. Leading the pack is Charles Polk, who was GVA’s all-time top-producing broker.

GVA Advantis closing some Virginia offices

The Richmond office of the commercial brokerage firm GVA Advantis apparently has escaped the ax. On Monday the company said it will close offices in Newport News and Northern Virginia. And unlike at the Norfolk office, where brokers have left for other firms, GVA’s Richmond brokers are staying put — for now.

The Pipeline: Commercial Real Estate Round Up for 3.4.09

Vangent, a global information management firm, leased 123,000 square feet at 701 Liberty Way in the Chesterfield, reports CB Richard Ellis. Grubb & Ellis|Harrison & Bates reports Allen Corporation of America, a Fairfax-based technology firm, leased 11,600 square feet at 16031-16035 Continental Boulevard in Chesterfield.

The Pipeline: Commercial Real Estate Round Up for 2.05.09

REM Properties purchased the Shoppes at Bell Creek from private investors for $9.5 million. The 65,800-square-foot shopping center is located on Bell Creek Road in Mechanicsville. It was constructed in 2003. Grubb & Ellis Harrison & Bates reports that Pine Dell Shopping Center LLC purchased the 16,000-square-foot Pine Dell Shopping Center from Pine Dell Corp… Read more »

Pipeline: Commercial Real Estate Round Up for 1.23.08

Richmond International Raceway purchased a 35,300 square foot building at 4001 Carolina Ave. in Henrico for $1 million. Robert L Borum and Associates LLC purchased a 9,600 square foot flex-space building at 8191 Staples Mill Road in Henrico County from Rastek Construction and Development Corp. for $1 million. Click on the story link for more… Read more »