Scott’s Addition property sells for $10.8M in Richmond
Building includes residential and retail space
A 53,392-square-foot mixed-use property in Richmond has sold for $10.8 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Friday. The 1.81-acre plot was sold by an entity co-managed by Richmond-based Fountainhead Development and Lynx Ventures.
The building, on 1300 MacTavish Ave. in the Scott’s Addition neighborhood, has 13 apartments and 42,892 square feet of commercial space that is currently leased to three tenants. The property also has on-site parking and rights to parking on an adjacent property. Raleigh-based Hem & Spire LLC purchased the property from ADC II LLC, which was represented by Catharine Spangler and Jeff Cooke of Thalhimer.