Sauer Center’s first phase fills out

Written by

Posted on 10/06/2021 by Mike Platania at Richmond BizSense

All of the office space in The Sauer Center’s first phase has now been spoken for, with a firm that’s closely familiar with the project snapping up its last bit.

L.F. Jennings has signed a lease to move its local headquarters to The Sauer Center, the Whole Foods-anchored development from Sauer Properties across Broad Street from the Fan.

The general contracting firm is taking 4,300 square feet of office space at 2000 W. Marshall St., joining tenants like IT firm SingleStone and fellow general contractor Barton Malow. Sauer Properties’ own office is also based out of the trapezoidal building near the intersection of West Marshall Street and Hermitage Road.

Though its company headquarters are in Northern Virginia, L.F. Jennings’ local home base has been in the Glen Forest Office Park in the West End for over a decade.

The company already knows The Sauer Center well, as it’s been the project’s general contractor since it kicked off in 2017. Frank Martino, L.F. Jennings’ Central Virginia director, said they’re excited to make Sauer Properties a neighbor and landlord, in addition to a client.

Continue reading the full article

Share this:

Developers pay $12.5M for Lacy’s 3.3-acre tract on Arthur Ashe Blvd.

Written by

Posted on 7/14/2021 by Mike Platania at Richmond BizSense

A new high mark has been set for land on a per-acre basis in the Scott’s Addition area.

The 3.3-acre assemblage at 1117-1209 N. Arthur Ashe Blvd. sold earlier this week for $12.5 million, city records show.

The buying entities are tied to D.C.-based Level 2 Development and SJG Properties, who are planning a major mixed-use project for the site. The seller in the deal was local investor Ed Lacy, who’d owned many of the parcels for decades.

At about $3.8 million per acre, the deal marks the highest sales price on a per-acre basis in the neighborhood in recent memory.

The previous high mark for the land in and around Scott’s Addition was $3.6 million per acre, set last year by South Carolina’s Greystar when it bought a whole city block at 1601 Roseneath Road. It paid $8.6 million for the site, where it’s planning a 350-unit mixed-use project with locally-based Capital Square.

Continue reading the full article

Share this:

Manchester may, at long last, be getting a grocery store

Written by

Posted on 11/30/2020 by Mike Platania at Richmond BizSense

With a planned high-rise apartment and commercial project as the lure, Manchester could finally get its chance to hook a neighborhood grocery store.

A new mixed-use development expected to stand 12-16 stories is in the works at 201 W. Commerce Road, on a roughly 1-acre plot owned by Brent Graves, a former owner of Taylor & Parrish Construction.

While still in the planning stages, the project would look to house 250 apartments and about 25,000 square feet of ground-floor commercial space.

For that commercial space, Graves said his group has been in discussions with a couple grocery store tenants, though nothing’s been finalized. If he is able to bag one, he said it’ll help guide the rest of the project’s design.

Continue reading the full article

Share this: