West Broad Street property sells for $1.2 million
A property on West Broad Street in Richmond has sold for $1.2 million, according to Cushman & Wakefield | Thalhimer.
The commercial real estate firm said that a subsidiary of Thalhimer Realty Partners bought the property, located at 3407 W. Broad St. The .58-acre site will be redeveloped, although Cushman & Wakefield | Thalhimer said it could not share specific plans for the property.
“Bailey Insurance will be leasing back the space for now,” said Cushman & Wakefield | Thalhimer's Will McGoogan, who handled the sale negotiations on behalf of the buyer.
Cushman & Wakefield | Thalhimer also said that Old Dominion Warehouse & Distribution has renewed its lease at 2904 Transport St. in Richmond. Evan Magrill, SIOR handled the lease negotiations for the 132,000-square-foot property.