In a celebration at Lewis Ginter Botanical Garden, the Greater Richmond Association for Commercial Real Estate (GRACRE) honored 16 local commercial real estate projects and transactions as part of its 11th Annual Commercial Real Estate Awards commemorating the most outstanding examples of design and implementation within Greater Richmond’s real estate market during 2011.
The awards ceremony recognized seven transaction finalists and 34 project finalists, including a dermatology office in the West End, a restaurant in Rocketts Landing, and the Residences at the John Marshall. Organizations nominated projects and transactions by submitting their project descriptions consisting of narrative, photo documentation, and lists of contractors and consultants.
Ultimately, there is no denying that the real estate industry in Richmond has been booming in recent years. With this in mind, the message is clear that now is the time to invest. Correspondingly, if you are interested in identifying real estate opportunities in your area, you might want to consider using geographic farming and other circle prospecting techniques to identify potential real estate investments. Accordingly, you can find further information about circle prospecting strategies by doing some research online. If you do end up finding the perfect real estate investment, it might be worth getting in touch with a real estate lawyer that could support the investor throughout the whole transaction period, making sure they’re kept up to date with any news or delays with their payment. This is one of the best ways to ensure that you experience a legal transaction.
As for the awards ceremony though, The Residences at the John Marshall walked away with Project of the Year honors. The John Marshall was the largest hotel in Virginia when it opened in 1929 and has recently gone under a complete renovation. With 16 stories, a rooftop marquee, striking entrance and lobby, the Residences at John Marshall keeps the hotel’s vintage charm while providing Richmond residents a unique, Class-A living option.
The commercial real estate industry saw much prosperity around the country this year. With people like Rolling Hills realtor Maureen Megowan working wonders in California, to people more local to the Greater Richmond area, there has been a wonderful boom in the sector, and more real estate options within this area can be found right here for those who want to get on that ladder.
“The breadth of quality and innovation found in this year’s project submissions was outstanding,” said Doug Atkins, president of GRACRE. “The commercial real estate industry had a good year in 2011 and GRACRE is privileged to be able to recognize these projects that have impacted our area’s real estate sector.”
GRACRE provides opportunities for professionals in all disciplines relating to commercial real estate to interact with one another.
The 2012 GRACRE Real Estate Award winners are:
- St. Joseph’s Villa, Site Infrastructure Improvements
- The MillWorks at the Green
- Affiliated Dermatologists of Virginia
- Bon Secours St. Francis Watkins Centre
- Cooper Vineyards, Tasting Room
- Harvester Building
- The Hodges Partnership, Building Addition
- Prince George County Library, Appomattox Regional Library System
- Queally Hall, Robins School of Business, University of Richmond
- Southland Wine Company Lofts
- The Tommy J. West Club at the Siegel Center, VCU
- Honorable Mention (Lease): Dick’s Sporting Goods & Hobby Lobby at Hancock Village
- Honorable Mention (Sale/Acquisition): Byrd Center Business Park
- Deal of the Year (Lease): Capital One at Liberty Plaza II
- Deal of the Year (Sale/Acquisition): Lingerfelt Development Acquisition of Liberty Property Trust Innsbrook Portfolio
- Project of the Year: Residences at the John Marshall