Richmond, VA – Commonwealth Commercial Partners, LLC is pleased to have facilitated the sale of 1300 Semmes Avenue, a 19,916± SF property, in the Manchester neighborhood of Richmond, VA.
Bruce Milam and Jamie Galanti of Commonwealth Commercial represented the sellers, Beth Bailey, Bruce Green, and Marcia Hickory. This transaction closed on July 29, 2020.
1300 Semmes Avenue was converted and renovated in 2008 from a warehouse to an open office concept by the sellers with design work by architect Mary Lorino with LoCH Design. This conversion was originally constructed for Beth Bailey, Bruce Green, and Marcia Hickory’s pediatric home health care business. They later sold the business and leased the property in 2017 to a national corporation called “Thrive,” who continues to occupy the space.
The purchaser, Hem + Spire, is a Durham-based investment group that specializes investing in historic properties and refitting them for modern uses. While most properties along this corridor of Semmes Avenue, from Cowardin Avenue to its terminus at 7th Street, have been renovated to accommodate multi-family development, Hem + Spire plans to maintain this property as an office building. It is estimated that this Semmes Avenue corridor will have more than 400,000 SF of occupied office space and 1350 apartments at full build-out by 2021.
ABOUT COMMONWEALTH COMMERCIAL PARTNERS, LLC
Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis MO, Columbus OH, and Minneapolis MN. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services. To learn more, visit www.commonwealthcommercial.com.