Richmond Developments

[Cadeho]

And the winner is... DOWNTOWN RICHMOND!!!

This has been a very good week!

[Shakman]

And the winner is... DOWNTOWN RICHMOND!!!

This has been a very good week!

This is a hugh boost for Downtown. I hope this trend continues.

[Henry]

[burt]

This news is so good it's being spread over several threads.

McLaw, when we meet I will gladly hand over my quarter.

[wrldcoupe4]

ALso, while everyone is celebrating MWV, just thought I'd mention that Riverfront Plaza is under contract by Hines REIT for $292 per square foot. Hines is a big company that could become a considerable presence in our market if they so choose. The deal should close next week

[burt]

ALso, while everyone is celebrating MWV, just thought I'd mention that Riverfront Plaza is under contract by Hines REIT for $292 per square foot. Hines is a big company that could become a considerable presence in our market if they so choose. The deal should close next week

Great news, Coupe.

What have you heard about Jemal's projects since he escaped a jail sentence?

[wrldcoupe4]

Well, he hasn't totally escaped, just from the worst charges. But, I think most are confident he'll receive a suspended sentence. I haven't heard much yet though.

[eandslee]

ALso, while everyone is celebrating MWV, just thought I'd mention that Riverfront Plaza is under contract by Hines REIT for $292 per square foot. Hines is a big company that could become a considerable presence in our market if they so choose. The deal should close next week

Are they HQ'd here or do they just have a significant presence here? Additionally, I was unaware that there was that much space in the riverfront plaza available for another tenant. I thought that Wachovia Securities and a couple other tenants had the place full. Do you know how much space they will occupy?

[wrldcoupe4]

Well, Hines REIT is actually buying the entire complex, they won't be moving into it They will be the new owners.

The two towers add up to about 1 million square feet, Wachovia Securities has about 1/3 of that, and a law firm has another 1/3. The rest are smaller tenants. The buildings are 98% leased, which means there is only 20,000 sf available out of 1 million.... it's a very desirable building!

[eandslee]

Well, Hines REIT is actually buying the entire complex, they won't be moving into it They will be the new owners.

The two towers add up to about 1 million square feet, Wachovia Securities has about 1/3 of that, and a law firm has another 1/3. The rest are smaller tenants. The buildings are 98% leased, which means there is only 20,000 sf available out of 1 million.... it's a very desirable building!

Oh yeah, that's right. I remember reading a while back that they had bought the property. Thanks for refreshing my memory. Yeah, I'd like to see them build speculative downtown so that other companies could have a prestigious downtown address.

[wrldcoupe4]

Well, it was actually purchased last year by a German Firm, which is selling it and making a profit of about $30 per square foot in this deal. But yeah, Hines is more than capable of doing that.

www.hines.com

[Shakman]

Are they HQ'd here or do they just have a significant presence here? Additionally, I was unaware that there was that much space in the riverfront plaza available for another tenant. I thought that Wachovia Securities and a couple other tenants had the place full. Do you know how much space they will occupy?

HINES is out of Houston, TX.

[jbjust]

Did Phillip Morris abandon all of the office space they used to have on the first 9 floors of Hunton & Williams' building when they moved their headquarters out to Broad Street?

[wrldcoupe4]

Umm besides Wachovia Securities and Hunton and Williams, no other company leases more than 10% of the building's. So maybe?

[jbjust]

I worked over in the Hunton building for a few months back in 1998 and recall Phillip Morris having maybe 1/3 to 1/2 of that building.

[JWCJ]

MeadWestvaco picked RICHMOND!!!!

[JWCJ]

MeadWestvaco annoced that they are building their site here in Richmond along the James River downtown.

[burt]

MeadWestvaco picked RICHMOND!!!!

How come you're just tuning in? We've been celebrating since early this morning.

[wrldcoupe4]

yeah where have you been? We've been talking about it since this morning

[eandslee]

MeadWestvaco annoced that they are building their site here in Richmond along the James River downtown.

Hey, WE LANDED ON THE MOON! Oh, wait...that's old news isn't it?

...Um...excuse me, uh...you're just a little late on that one! This board has been lit up like a christmas tree since the RTD announced it! It's been crazy around here!

[Downtowner]

I know thanks to everyone on here I had 32 emails about UP hahaha.... I'm just playin with you guys I didn't mean that in a bad way I actually like it when I get crap loads of emails.

Edited November 9, 2006 by Downtowner

[eandslee]

Here's the latest map of the area where the new HQ will be built. Of course, everyone knows where we are talking about, but I just thought I'd add it because the RTD now has it on their story page:

http://www.timesdispatch.com/servlet/Satel...p;ssbinary=true

BTW, I can't get tags to work on this site. What's up?

Edited November 9, 2006 by eandslee

[wrldcoupe4]

The TD has dynamic tags... you can't show images from there unless you save them to your comp and upload them first... kinda sucks.

I'm curious to see where on the parcel the building will be built. It obviously won't be taking up all that space. The section just above the orange will be the parking deck for the federal reserve.

[burt]

The TD has dynamic tags... you can't show images from there unless you save them to your comp and upload them first... kinda sucks.

I'm curious to see where on the parcel the building will be built. It obviously won't be taking up all that space. The section just above the orange will be the parking deck for the federal reserve.

The rendering looks as if the building will run north/south with its back along 7th street to me.

Edited November 10, 2006 by burt

[eandslee]

The TD has dynamic tags... you can't show images from there unless you save them to your comp and upload them first... kinda sucks.

Thanks for the "heads up" on that. Yeah, that really sucks. I'll remember that for next though.

BTW, has there been a release of a site master plan overview of that location? Seems to me like there was one, but I may have been imagining things. If not, I wish one would come out. I'd like to know what the developers have in mind (other than just words) regarding the full build out of that site.

Edited November 10, 2006 by eandslee