“As the retail sector continues to rebound from the pandemic, we still face headwinds from labor shortages and supply chain challenges that hinder retail growth. That being said, we have seen a heavy uptick in demand from both local and national retailers and foresee a strong second half of 2021.” Peter Vick & Harrison Hall | Senior Vice Presidents
- Topgolf’s 55,000 square foot facility at 2308 Westwood Ave was purchased for $32.3 million in January by an Arizona-based real estate investment firm.
- Urban One proposed a $560 million casino resort to be developed in South Richmond. The project includes 250 hotel rooms, a sportsbook, 100,000 square feet of gaming space, a 3,000-seat theater, as well as 12 bars and restaurants. The project is anticipated to bring approximately $30 million in annual tax revenue to the city if completed, with Urban One declaring a $25 million payment upfront to the city. West Creek Financial signed 33,345 square feet at The Current and is scheduled to move into the top three floors by end of the year
- JCPenney permanently shut down its 97,000 square foot Virginia Center Commons store in May as other portions of the mall commence demolition.
- The Ella, a mixed-use development project, delivered 17,988 square feet of commercial space to the market in the first quarter of 2021. The property features a 5-story Courtyard Marriot hotel in addition to 4,401 square feet of restaurant space, 238 apartments, and 462 parking spaces.