Local creditors line up in Capmark filing
October 27, 2009 by Al Harris · Leave a Comment
Twenty-four creditors of a national commercial real estate lender that recently filed bankruptcy are in Richmond.
It’s not clear yet whether payments to those companies will be delayed or reduced, which can happen in a Chapter 11 bankruptcy case.
This week, Capmark Financial Group filed for Chapter 11 bankruptcy protection.
The company is a leading lender to developers of office towers, strip malls, hotels and multi-family properties.
The lender listed assets of $20.1 billion and liabilities of $21 billion as of June 30 in the filing. Last month the Pennsylvania-based company posted a quarterly loss of $1.6 billion amid rising defaults on commercial mortgages. Read more
The Pipeline: Commercial Real Estate Round Up for 8.7.09
August 7, 2009 by Al Harris · 2 Comments
Grubb & Ellis | Harrison & Bates reports the following lease:
Batteries Plus, a retail battery store, leased 2,100 square feet at 6493 Mechanicsville Turnpike in Hanover.
Liberty reports the following leases:
Commonwealth Parenting Center, a non-profit education resource, leased 2,400 square feet at 4121 Cox Road in Henrico. Read more
The Pipeline: Commercial Real Estate Round Up for 7.31.09
July 31, 2009 by Al Harris · Leave a Comment
Grubb & Ellis | Harrison & Bates reports the following transactions:
Richmond Volleyball Club purchased the 73,500 square foot former Brown Distributing facility at 2921 Byrdhill Road in Henrico for $2.4 million.
Bruce Howard Contracting, Inc. purchased 57 acres on Chambers Road in Charles City County from the Lexington Corporation for $1.12 million. Read more
The Pipeline: Commercial Real Estate Round Up for 7.17.09
July 17, 2009 by Al Harris · Leave a Comment
Thalhimer reports Petco, a national pet store chain, leased 14,600 square feet at Staples Mill Square in Henrico.
Grubb & Ellis | Harrison & Bates reports Wessam Haboush purchased the 2,350 square foot retail building at 7010 Three Chopt Road in Richmond for $400,000 from John Heisler.
Virginia Cabinetry leased 12,500 square feet at 1221-1223 School Street in Richmond.
El Ranchero Mexican Restaurant leased 4,000 square feet at 11521 Midlothian Turnpike in Chesterfield.
Big South Wholesale leased 3,000 square feet at 9415-C Atlee Commerce Boulevard in Hanover.
1701 Enterprises, LLC leased 2,000 square feet at 2008 Tomlynn Street in Henrico.
Michael Edward Layne leased 2,000 square feet at 9410 Atlee Commerce Boulevard in Hanover.
James River Massage Therapy leased 1,000 square feet at 3001 Hungary Spring Road in Henrico.
CB Richard Ellis reports Evergreen Enterprises, a distributor of home-furnishing products leased 24,000 square feet at 4667 Carolina Ave. in Henrico.
Ewing Bemiss & Co., an investment banking firm, sublet 10,480 square feet from Wachovia at 901 East Byrd St. in Richmond.
DVA Healthcare Renal Care leased 7,000 square feet at 8801-8815 Three Chopt Rd. in Henrico.
Efficiency Management, LLC leased 5,160 square feet at 16001 Continental Blvd. in Colonial Heights.
Divaris Real Estate reports Rugged Wearhouse leased 14,111 square feet at Circuit City Plaza in Henrico
K-Beauty -leased 2,500 square feet at East Town Plaza.
Taylor Long Properties reports C&C Hair Company leased 1,300 square feet in the Courthouse Place Shopping Center at11500 Busy Street in Chesterfield.
No relief in sight for office vacancy
No matter how you slice it, office vacancy rates are climbing in Richmond. And true to supply and demand, landlords are getting more and more generous with freebies such as up to six months free on a long-term lease to lure tenants. Read more
The Pipeline: Commercial Real Estate Round up for 3.27.09
March 27, 2009 by Al Harris · Leave a Comment
Powertrain Control Solutions, leased 18,000 square feet at 11228 Hopson Road in Hanover. Woodcraft, a wood-working retail store, leased 10,000 square feet at 9862 West Broad Street in Henrico. Read more
Commercial sales activity slips into hibernation
March 25, 2009 by Al Harris · 2 Comments
Who will budge first? Buyers and sellers of commercial real estate are locked in a game of chicken. But someone is going to have to budge, or deal volume will remain dreadfully low. And with commercial loans coming due and other commercial real estate investment groups needing to raise cash, some experts hint that it might be the sellers who are forced to make the first move. Read more
The Pipeline: Commercial Real Estate Round Up for 2.13.09
February 13, 2009 by admin · 3 Comments
Grubb & Ellis Harrison & Bates report Magan & Sons, LLC purchased a 1.48-acre parcel at Short Pump Town Center in Henrico for $1.2 million. The buyer plans to develop a hotel on the site. Read more
