Industries Commercial Real Estate

Real estate group recognizes area’s top commercial real estate projects

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Print this page By Paula C. Squires

The Williams Mullen Center in downtown Richmond won top honors Wednesday night as the area’s best office and overall commercial real estate project of 2010.

The 16-story, 210,000-square-foot building is at the corner of 10th and Canal streets. Its anchor tenant is the Williams Mullen law firm, which leases 140,000 square feet.
The award for the city’s newest office in the Central Business District came during a recognition program at the Richmond Marriott sponsored by the Greater Richmond Association for Commercial Real Estate (GRACRE).

About 200 people turned out for the 10th annual awards event where 11 projects in various categories were recognized from among 32 finalists.  Other standout projects included the $150 million expansion at the Virginia Museum of Fine Arts and a deal that will allow McLean-based Capital One Financial Corp. to expand in Richmond after its purchase of two buildings at Innsbrook Corporate Center. The offices in western Henrico County, formerly occupied by Wachovia Securities, had been largely vacant during the past two years following the company’s merger with A. G. Edwards.

“This past year was a challenging one for commercial real estate with respect to the volume of new projects undertaken, but we were fortunate in Richmond to see significant quality from the developments completed in 2010,” said Eric Robison, president of GRACRE.  “This year’s GRACRE awards reflect a breadth of innovation and local talent that our community can be proud of.”

Serving as master of ceremonies for the evening was Lucy Meade, marketing and development director for Venture Richmond. A list of the awards follows:
• Office, Williams Mullen Center
• Interior, The Martin Agency Creative Department
• Multi-Family, Bliley’s Garage
• Recreational, University of Richmond E. Claiborne Robins Stadium
• Cultural, Virginia Museum of Fine Arts expansion
• Sale transaction, Capital One Financial Corp., Innsbrook I & II acquisition
• Lease transaction, General Services Administration lease at Enterchange
• Medical, Henrico Doctors’ Hospital Brain Surgery Suite
• Institutional, St. Catherine’s School historic renovations and addition
• Renovation/Reuse, Stratford University/Thalhimer Center
• Retail/Restaurant, Bangles and Beads/Xtra’s Café
• Project of the Year, Williams Mullen Center


GRACRE, a 300 plus -member trade organization, advocates for commercial property owners, developers, and related professionals in the city of Richmond and the counties of Chesterfield, Goochland, Hanover, and Henrico.

 

 


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