Grubb & Ellis, a national commercial real estate firm with a local affiliate, filed for Chapter 11 bankruptcy Tuesday and announced plans to sell the firm to a large investment house.
Grubb & Ellis declares bankruptcy
Harrison & Bates
Shopping malls facing first-quarter fears
Richmond area shopping malls are holding steady, but trouble might be on the way as major retailers plan to close stores. A BizSense study found that the combined storefront vacancy of six area malls is 9.6 percent. Brian Glass, commercial retail broker for Grubb & Ellis | Harrison & Bates, said the percentage of empty… Read more »
The Pipeline: Commercial Real Estate Round 11.21.08
Thalhimer reports that the Democratic Party of Virginia purchased a 15,000 square foot office building at 1710 East Franklin Street from Tinsman Holdings for $1.15 million. Harrison & Bates reports Jacobson Companies, a third party logistics provider, leased 52,000 square feet at 11200 Old Stage Road in Chesterfield. The law firm of Midkiff, Muncie &… Read more »
Is the ‘Curse of Diamond Duck’ over before it took hold?
Richmond might some day lament the day Diamond Duck left for Atlanta, ushering in an era without baseball. A new stadium would probably cure any budding curse before it becomes debilitating. (Read: Curse of the Bambino) Developer Highwoods Properties and their team have until March 1 to submit a letter of intent and outline their… Read more »