CB Richard Ellis reports IES Commercial, Inc., a communication and electrical service company headquarted in Houston, leased 23,800 square feet on Lakeridge Parkway in Hanover County. The Richmond office will be moving from its current location in the East End. Thalhimer reports the Virginia Veterinary Medical Association purchased a 1,700 square foot office condominium at… Read more »
Thalhimer
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 »
Pipeline Commercial Real Estate Round Up for 11.14.08
Thalhimer reports Kroger has leased 86,000 square feet at The Corner at Short Pump located at the corner of West Broad Street. and Lauderdale Drive. The 250,000 square feet shopping center recently broke ground and the new Kroger is expected to open in late 2009. Old Bon Air Partners sold two office buildings at 1030… Read more »
Pipeline Commercial Real Estate Round Up for 11.7.08
The City of Richmond purchased an animal shelter at 1600 Chamberlayne Ave. from the Richmond SPCA for $944,000. Kanawha Capital Management leased 5,500 square feet at 2235 Staples Mill Road, and Tristar Wholesale leased 26,000 sf in Manchester. Click on the link to read more deals. The City of Richmond purchased an animal shelter at… Read more »
Pipeline: commercial real estate roundup for 10.31.08
Morgata LLC purchased the medical office building at 8201 Atlee Road in Mechanicsville, VA, from Meadowbridge LLC for $1.6 million, or approximately $133 per square foot. Innovision Investment Group acquired the industrial property at 1400-1422 Chamberlayne Ave. in Richmond, VA, from Jackson & Edney Investments LLC for $1.74 million, or about $23 per square foot…. Read more »
Office space getting cheaper
Richmond office vacancies continue to rise, which means prices are likely to fall. The vacancy rate in the central business district rose about 3.5% from the last quarter for a total rate of 13.5%, according to Thalhimer’s recently released third quarter reports. The office vacancy rate for the whole metro area was 8.9% in the… Read more »
State buys Main Street Centre for $49 million
The state of Virginia has purchased Main Street Centre for $48.8 million The 420,575 square foot Main Street Centre, located on the corner of 6th and E. Main Streets downtown, has been sold by Brandywine Realty Trust. The building was built in 1986 and houses the Greater Richmond Chamber of Commerce among other tenants.
The Pipeline: Commercial Real Estate Roundup for 10.03.08
Jack P. Fine & Associates has purchased 7,000 sf at 2405 Chamberlayne Ave. in Richmond. The property is home to an Advance Auto Parts store. It was sold by Chamberlayne Developers for $1.56 million, or $223 per sf. The freestanding retail building is located in the Laburnum/Rt. 360 retail submarket. Advance Auto Parts fully leases… Read more »
Pipeline: Commercial Real Estate Roundup 9.26.08
Doswell Hospitality LLC delivered the first of three hotels, called the Days Inn at Kings Dominion, in June. Doswell Hospitality sold the property to Sumtinath LLC for $3.2 million. Located at 16220 International St., the Days Inn is a three-story hotel that offers 50 rooms. The other two hotels are currently under construction. Doswell Hospitality… Read more »
Pipeline: Commercial Real Estate Roundup 9.26.08
Doswell Hospitality LLC delivered the first of three hotels, called the Days Inn at Kings Dominion, in June. Doswell Hospitality sold the property to Sumtinath LLC for $3.2 million. Located at 16220 International St., the Days Inn is a three-story hotel that offers 50 rooms. The other two hotels are currently under construction. Doswell Hospitality… Read more »