realestate

Commercial Real Estate Update: April 11, 2025 Edition

Mixed-use building in downtown Richmond sells for $2.15M, medical practice leases 5,800 sqft in Henrico.

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    **Top Deals of the Week**

    Richmond's commercial real estate scene is buzzing with activity. Here are the top three sales and leases that caught our attention.

    **Sales**

    1. A major deal went down in Richmond, where 1705 E. Franklin Holding purchased a sprawling 11,941-square-foot property at 1705-1709 E. Franklin St. for $2.15 million. Claiborne Y. Brown, Nathan Shor, and Sarah Sadler of S.L. Nusbaum Realty Co. represented the seller.

    2. Smile Mission made a significant investment in Henrico, snapping up 3,984 square feet at 2201 Pump Road for $1.1 million. Matt Hamilton and Brad Lowry of CBRE represented the seller.

    3. CCROF2 Holdings LLC acquired 1.634 acres at 9214 and 9216 Quioccasin Road in Henrico for $935,000. Ann Schweitzer Riley and Ryan Rilee of One South Commercial represented the seller.

    **Leases**

    1. Richmond Memorial Health Foundation expanded its presence in Henrico with a lease of 5,808 square feet at 2235 Staples Mill Road. Birck Turnbull of Cushman & Wakefield | Thalhimer represented the tenant.

    2. Dermatology Associates of Virginia leased 5,028 square feet at 7201 Glen Forest Drive in Henrico. Russell Wyatt and Eliza Izard of Commonwealth Commercial Partners represented the tenant.

    3. Aspen Dental Management secured a lease for 4,400 square feet at 9935 Brook Road in Henrico. James Ashby IV of Cushman & Wakefield | Thalhimer represented the landlord.

    **Other Notable Deals**

    S.L. Nusbaum Realty Co. reported several deals, including:

    * Monument Foods leased 3,389 square feet at 462 Southlake Blvd. in Chesterfield.

    * Brazilian Market & Bakery leased 2,160 square feet at 9722 Gayton Road in Henrico.

    Cushman & Wakefield | Thalhimer also had a busy week, with deals including:

    * Sign Language, LLC expanded its presence with an additional lease of 4,200 square feet at 7438 Brandy Creek Drive in Mechanicsville.

    * Elevate Roofing Corp. leased 3,175 square feet at 10193 Maple Leaf Court in Ashland.

    CBRE reported a deal involving Dermatology Associates of Virginia leasing 5,028 square feet at 7201 Glen Forest Drive in Henrico.

    One South Commercial's notable deal was RVA Café leasing 2,500 square feet at 201 W. 7th St. in Richmond.

    Commonwealth Commercial Partners had several deals, including:

    * Foundation Medical LLC dba Foundation Medical Group leased 2,201 square feet at 11600 Busy St. in Chesterfield.

    * Pagano & Associates PC leased 3,348 square feet at 409 E. Main St. in Richmond.

    Colliers reported a deal involving 9BYLD Better leasing 3,928 square feet at 211-A W. 7th St. in Richmond.

Commercial real estate news update from April 11, 2025 edition.