The commercial real estate market has slowed down over the last couple of years, but that didn’t stop hundred of professionals from gathering last night to celebrate the best new projects in the Richmond at the annual GRACRE awards.
Westchester Commons
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.
Two new openings at Westchester Commons
Movie buffs and those with buff bodies now have two new haunts at Westchester Commons near the intersection of routes 60 and 288 in Chesterfield County.