realestate

Commercial Real Estate Update: February 7, 2025 Edition

Top transactions: 75-acre Hanover land sale for $8.6M, Scott's Addition lease for $5.9M.

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*Market Momentum: Top Deals in Richmond and Beyond**

    A flurry of activity has characterized the commercial real estate market in Richmond, with several high-profile sales and leases making headlines. Here's a snapshot of the top deals:

    **Biggest Sales**

    1. **The Virginia Home Scores Big**: The Virginia Home purchased 75.06 acres on Bell Creek Road near Pole Green Road in Hanover for $8.65 million from The Virginia Group. Jeffrey Cooke with Cushman & Wakefield | Thalhimer represented the buyer.

    2. **Stratford Heights Expands Footprint**: Stratford Heights snapped up 17,047 square feet at 1300 Semmes Ave in Richmond for $4.8 million from MJ Semmes LLC. Reilly Marchant with Cushman & Wakefield | Thalhimer represented the buyer.

    3. **Call Federal Credit Union Makes a Move**: Call Federal Credit Union purchased 29,851 square feet at 4235 Innslake Drive in Henrico for $2.95 million from WAM Associates. Rebecca Barricklow and Joe Marchetti with Range Commercial Partners represented the seller.

    **Top Leases**

    1. **RVA Yaki Syo Finds a New Home**: RVA Yaki Syo leased 5,893 square feet at 1203 N Arthur Ashe Blvd in Richmond. Read Goode with Divaris Real Estate represented the landlord.

    2. **Youth for Tomorrow – New Life Center Expands**: Youth for Tomorrow – New Life Center leased 4,765 square feet at 2810 N Parham Road in Henrico. Amy J Broderick and Kate Hosko with Cushman & Wakefield | Thalhimer represented the landlord.

    3. **American CMG Services Secures Space**: American CMG Services leased 3,330 square feet at 2112-2122 Tomlynn St in Henrico. Evan Magrill with Cushman & Wakefield | Thalhimer represented the landlord.

    **Other Notable Deals**

    * Morty's Market & Deli leased 2,100 square feet at 305 W Brookland Park Blvd in Richmond.

    * Mountain Bay leased 1,442 square feet at 11709 W Broad St in Henrico.

    * Yellow Umbrella leased 1,011 square feet at 5600-5614 Patterson Ave in Richmond.

    **Recent Purchases**

    * TurnAround Factor LLC purchased two units at 11263 Air Park Road, Units 2 and 3, in Hanover for $760,000 from Air Park 3 LLC and Air Park 4 LLC.

    * ANE Design purchased 2,284 square feet at 21 E Main St in Richmond for $575,000 from Urbanview.

    **Leases and Purchases**

    * The Richmonder leased 1,454 square feet at 701 E Franklin St in Richmond.

    * TurnAround Factor purchased 4,000 square feet at 11263 Air Park Road, Units 3 and 4, in Hanover for $760,000.

    * KD&EM LLC purchased 9,625 square feet at 1293 Carmia Way in Chesterfield for $1.075 million from Marshall Real Estate.

    **Additional Deals**

    * ANE Design purchased 2,284 square feet at 21 E Main St in Richmond for $575,000 from Urbanview.

    * 404 Strawberry LLC purchased a duplex at 404 Strawberry St in Richmond for $810,000.

Commercial real estate news and market trends for February 7, 2025 edition.