Malls lure new types of tenants

Richmond’s mall operators are less choosy in selecting tenants now, and that’s helped them boost occupancy compared to six months ago. Some have added stores like nail salons, dollar stores, and tattoo shops.

In April, BizSense counted empty storefronts at six area shopping malls, and found that about 15 percent of the storefronts at malls around the region were vacant. Read more

Paint store builds out new home

The Benjamin Moore Virginia Paint and Design Center is moving—about a mile down the street. Read more

Commercial brokerage disbanding

Seven GVA Advantis brokers left the troubled firm last week and are starting a local office of Jones Lang LaSalle, according to Matt Braun, a GVA broker who is also head of GVA’s Richmond construction division.

Leading the pack is Charles Polk, who was GVA’s all-time top-producing broker. Read more

The Pipeline: Commercial Real Estate Round Up for 6.12.09

Grubb & Ellis | Harrison & Bates reports GPM Investments, an operator of convenience stores on the East Coast, has leased 25,600 square feet at 8565 Magellen Parkway in Henrico.

Precision Recycling leased 15,300 square feet at 13101 N. Enon Church Road in Chesterfield.

Kinsale Capital Group , a Chicago-based private equity firm, leased 7,000 square feet at 6802 Paragon Place in Henrico.

BB&T Insurance Services leased 6,100 square feet at 2108 W. Laburnum Avenue in Richmond.

Salon Del Sol, a locally-owned chain of salons and spas,  leased 1502 E. Parham Road in Henrico.

PW Photography, a wedding and portrait photographer,  leased 2,800 square feet at 11341 Business Center Drive in Chesterfield.

Hampton Rubber Company, an industrial tubing and gasket distributor based in Hampton, leased 2,500 square feet at 1511 W. Hundred Road in Chesterfield.

William L. Coker III, DDS leased 1,400 square feet at 1805 Monument Avenue in Richmond.

TJ’s Bridals & Formals leased 1,200 square feet at 67 S. Laburnum Avenue in Henrico.

Liberty Property reports Capital Center LLC, a home mortgage lender,  leased 5,600 square feet at 4510 Cox Road in Henrico.

Synergy Systems, Inc. leased 9,000 square feet at 4510 Cox Road in Henrico.

Commonwealth Commercial reports the Nelson Company  leased 2,750 square feet at 2557 Sheila Lane in Richmond.

Thalhimer reports Gunther’s Land Company LLC purchased a 2,600-square-foot office condo at 3530 Mayland Court in Henrico from Moreland Realty, LLC for $290,000.

The Pipeline: Commercial Real Estate Round Up for 5.8.09

Thalhimer reports R.E. Michel Company, a wholesale HVAC distributor, purchased the 20,500-square-foot industrial property at 601 Johnston Willis Drive in Chesterfield from K.B. Properties LLC for $1.625 million. R.E Michel, plans to relocate their distribution operations to this location. Read more

Richmond’s piece of the coming commercial real estate shakedown

Riverside on the James, Richmond’s FBI Headquarters on Parham, a former Circuit City headquarters building.

All three are among the local properties that have large commercial mortgages coming due in the next two years. Between now and the end of 2010, there are 27 CMBS loans coming due in the Richmond metropolitan area with $178.2 million owed when they mature, according to commercial real estate tracking firm Trepp. Read more