realestate

Commercial Real Estate Update: December 6, 2024 Edition

Top deals include $1.2M apartment buy in Fan district, 174K sqft industrial lease in Chesterfield.

T
op Three Sales:

    1. Jokity Investments LLC purchased four units at 2121 Grove Ave. in Richmond for $1.12 million, with Justin Sledd representing the seller and Isaac Weintz representing the buyer.

    2. Marwaha Plaza acquired 58,589 SF at 8002 Discovery Drive in Henrico for $4,333,500 from South State Bank as administrative agent for CCPB LLC, represented by Eric Hammond and Tucker Dowdy of Commonwealth Commercial Partners.

    3. JRE Real Estate purchased 11,000 square feet at 11255 Air Park Road in Ashland for $1.4 million, with Ann Schweitzer Riley and Ken Campbell representing the seller.

    Top Three Leases:

    1. Packaging Corp. of America leased 174,000 square feet at 2903-2941 Walmsley Blvd. in Chesterfield, represented by Jason Hetherington, Brad Lowry, and Doug Tice of CBRE.

    2. Brazilian Best Granite leased 46,668 square feet at 9003 Old Staples Mill Road in Henrico, with Ben Bruni, Russell Wyatt, and Collins Burlee representing the landlord from Commonwealth Commercial Partners.

    3. UZURV Holdings leased 13,992 square feet at 101 S. 15th St. in Richmond, represented by Brian K. Berkey and Karla Knight of Cushman & Wakefield | Thalhimer.

    Other notable deals include:

    - Hickory Farms leasing 8,475 square feet at 16 Thurman Road in Richmond.

    - Octapharma Plasma leasing 11,323 square feet at 2001 S. Crater Road, Suite 16, in Petersburg.

    - Burke & Herbert Bank & Trust Co. expanding with an additional 6,564 square feet at 1802 Bayberry Court in Henrico.

    Notable property purchases include:

    - 4800 Thalbro LLC purchasing 5.32 acres on Orville Road and Westmoreland Street in Henrico for $700,000.

    - MFR Fighting Creek LLC purchasing 9.757 acre at B&G Road – Lot 10 in Powhatan for $800,000.

Image of bustling city street with skyscrapers, representing commercial real estate update.