The Pipeline: Commercial Real Estate Round Up for 1.8.10

Thalhimer reports the following deals:

Cedar Broad Associates LLC purchased the 2.18 acre site at 18th and East Broad Streets in Richmond for $3.2 million from BAT Properties for the construction of a 204-unit multifamily project. (Read more about this here)

hhgregg leased 32,900 square feet at 820 Southpark Boulevard in Colonial Heights.

Vulcan Materials Company leased 12,360 square feet at Ironbridge Commons, 5601 Ironbridge Parkway in Chesterfield.

Advance Auto Parts Co., Inc. leased 6,710 square feet at Broad Street Plaza, 9900 W. Broad St., in Henrico.

Heritage Wealth Advisors leased 4,910 square feet at 901 E. Byrd Street in Richmond.

Medi-Weightloss Clinics leased 4,290 square feet at Grove Park I at Wyndham, 11551 Nuckols Road in Henrico County.  They plan to open in March of this year.

Thomasville Furniture leased 3,820 square feet at Deep Run Centre I, 3985 Deep Rock Road in Henrico.

Verizon Wireless leased 3,610 square feet at Wilton Square, 10828 W. Broad St. in Henrico.

Tip Thai Restaurant leased 3,100 square feet at Wistar Center, 8101 Staples Mill Road in Henrico.

American Home Patient Inc. leased 2,865 square feet at 425 Southlake Boulevard in Richmond.

Nine South Adams Association, LLC leased 2,370 square feet at 7 S. Adams Street in Richmond.

Carepoint Direct, LLC  leased 2,145 square feet at Reynolds Office Building, 6641 W. Broad St.in Henrico.

Ciao Pizza leased 1,720 square feet at Mountain Road Retail Shops, 1574 Mountain Rd, in  Henrico.

Alexander’s Fine Jewelry leased 1,620 square feet at 11966 Ironbridge Plaza in Chester.

Interlock Systems of Virginia, Inc. leased 1,500 square feet at 1901 Advantage Drive in Prince George County.

JAMS Management, LLC  leased 1,330 square feet at Shoppes at Willow Lawn in Henrico.

Virginia Adult & Pediatric Allergy & Asthma leased 1,000 square feet at 7605 Forest Avenue in Henrico.

Po Boys Tobacco, LLC leased 560 square feet at Rutland Commons, Rt. 301 & Atlee Road in Hanover.

Divaris reports the following deals:

EZ Tax Service leased 1,175 square feet at Best Buy Station – Laburnum Ave & Gay Street in Richmond.

Friendly Driving School leased 570 square feet at 8014 Midlothian Turnpike in Chesterfield.

Network Data Solutions leased 620 square feet at 8734 Landmark Road in Richmond,

Toe Tapping Shoes leased 1,400 square feet at Brookhill Azalea at Chamberlayne Road and Azalea Avenue in Richmond

CB Richard Ellis is pleased to announce the following deals:

Capital One Services, Inc. renewed their lease of 77,045 square feet at 120 East Shore Drive in Henrico for two years.

Allied Pallet Company leased 26,190 square feet at 1401 Ingram Street in Richmond.

Grubb & Ellis|Harrison & Bates reports the following deals:

P. T. O’Malley Lumber Company, Inc. purchased a 156,485-square-foot manufacturing facility on 92.58 acres in Essex County for $1,250,000.

Colonial Management Group leased 6,300 square feet at 2010 Bremo Road in Henrico.

Heritage Chem-Dry leased 3,600 square feet  at 11233 Washington Highway in Hanover.

Gallagher-Bassett Services, Inc. 3,000 square feet at 804 Moorefield Park Drive in Chesterfield.

Gustav Horsey, DDS leased 2,825 square feet at 4106 E. Parham Road in Henrico.

Chanello’s Pizza leased 1,520 square feet at Stonewall Square Shopping Center in Hanover.

Liberty Property reports the following deals:

Eastern Martial Arts Center leased 4,460 square feet of flex space at Eastport I, 5616 Eastport Boulevard in Henrico.

Commonwealth Commercial reports the following deals:

Xenith Bank leased 7,025 square feet at 1011 Boulder Springs Drive in Chesterfield.

Gallagher Bassett Services leased 3,050 square feet at 804 Moorefield Park Drive in Chesterfield.

Rock the shareholder vote

A local investment fund wants to spread democracy among the stock-holding populace.

After toying with an idea for a website that makes it easier for shareholders to vote on issues at public companies, Richmond-based TFS Capital plans to invest $2 million. Read more

The Herd: Promotions and New Hires for 10.28.09

Firms hiring/promoting employees include some of the area’s biggest employers, and some from financial services and law.

Financial Services:
Meredith W. Briggs has recently joined Heritage Wealth Advisors as a senior associate. Previously, Briggs was a financial consultant with AXA Advisors, where she worked with clients in the areas of investment management, retirement planning and risk management. Briggs received her undergraduate degree from Duke University and became a certified financial planner in 2009. Read more

Local investment firm wins growth award

Heritage Wealth Advisors, a local wealth management firm founded in 2005 was recognized this month for its rapid expansion—tripling its size in just four years. Read more

Rules changing for the money management game

The business of managing people’s money is getting a shakeout in Richmond.

With major stock indices off nearly 40 percent, all sorts of clients are reevaluating their advisors, and that has meant opportunity for firms that can land new clients without letting go existing ones. But it also means more pressure to lower rates, which could leave a lasting effect on the local industry and make it less profitable for years to come. Read more

Managing Expectations: how local wealth advisors steer clients through rough seas

whenever the stock markets take a dip, Chris Williams, Director of Investment Products and Services at Virginia Asset Management, likes to tell the story about the guy who would always impulsively buy a stock at the market peak and ride it all the way to the bottom and then sell everything, ending up with a 1% return after three years when most clients made 15%.

“His timing was so impeccable I was almost tempted to invest every time he wanted to sell out,” says Williams. So, with stagnant stock indices, crunching Save credit markets and a housing sector with no roof over its head, you might think the phones of local wealth managers would be ringing off the hook with clients screaming, “SELL, SELL, SELL!”

Not so, say area financial advisors. Read more