realestate

Commercial Real Estate Update: March 21, 2025 Edition

Medical office building in Prince George sells for $6.8M, 11,000-sq-ft industrial lease tops local deals.

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    **Top Deals of the Week**

    In a flurry of activity, several notable transactions took place in the Richmond area. Here are the top three sales and leases that caught our attention.

    **Sales**

    1. **Health Venture's Puddledock Road Property**: A 20,420 square foot property at 4700 Puddledock Road in Prince George was sold to Elliott Bay Capital Trust for $6.84 million. Catharine Spangler of Cushman & Wakefield | Thalhimer represented the seller.

    2. **Plum Street Partners' Mayland Drive Acquisition**: Plum Street Partners purchased a 42,774 square foot property at 9851-9881 Mayland Drive in Henrico for $3.8 million. Ken Campbell and Tom Rosman of One South Commercial represented the buyer.

    3. (Tied) **Saint Mary Coptic Orthodox Church's West End Drive Purchase**: Saint Mary Coptic Orthodox Church acquired an 18,688 square foot property at 3801 W. End Drive in Henrico for $1.9 million from Westhunt Baptist Church. Bill Phillips of Joyner Commercial represented the seller.

    **Leases**

    1. **CB Flooring's Lakeridge Parkway Lease**: CB Flooring leased a 10,962 square foot space at 10382 Lakeridge Pkwy., Bldg. 7, in Ashland. Graham Stoneburner, Scott Douglas, and Chrissy Chappell of Cushman & Wakefield | Thalhimer represented the landlord.

    2. **Primoris Services Corp.'s Progress Road Lease**: Primoris Services Corp. leased a 9,700 square foot space at 11144 Progress Road in Hanover. Michael Mayhew of Commonwealth Commercial Partners represented the tenant.

    3. (Tied) **OCD Anxiety Centers Virginia LLC's West Broad Street Lease**: OCD Anxiety Centers Virginia LLC leased a 5,197 square foot space at 6627 W Broad St. in Henrico. Frank Hargrove, John Carpin, and Malcolm Randolph of Colliers represented the landlord.

    **Additional Deals**

    * ALA Capital purchased an 18,154 square foot property at 9830-9840 Midlothian Tpke. in Chesterfield for $1.6 million from Karen K. Farrow Trust.

    * Lincoln International leased a 4,896 square foot space at 200 S. 10th St. in Richmond.

    * Inner-Vision Educational Center leased a 4,840 square foot space at 1570 Standing Ridge Drive in Powhatan.

    * Chesterfield Sports Enterprises & EDC purchased the 9 acres at 5300 Genito Place in Chesterfield for $1.6 million from Waterford Knox LLC.

    Note: I reduced the original text by approximately 40% and rewrote it to maintain essential information while changing structure, wording, and phrasing entirely.

Commercial real estate news and market trends for March 21, 2025 edition.