Caravati’s building in Richmond sells for $2.03M
Building to be developed into 42 apartment units
The former Caravati’s Inc. building in Richmond sold for $2.03 million, Colliers International in Virginia announced Sept. 2.
Located at 104 E. Second St. in the Manchester area, the two-story building has 38,000 square feet. The buyer, 104 E. Second St. LLC, plans to develop the building into 42 apartment units. Construction is expected to begin in September.
Caravati’s, an architectural supply company founded in Richmond in 1939, moved from the historic warehouse to downtown Ashland this year.
Charles Wentworth, an executive vice president; Garrison Gore, an associate; Hank Hankins, an executive vice president; Victoria Pickett, first vice president; and Matt Anderson, an executive vice president, represented the seller, Recent Ruins LLC.