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Thalhimer Realty Partners closes on acquisition of Firestone Building – 1510 West Broad Street

RICHMOND, VIRGINIA: Thalhimer Realty Partners, Inc. (TRP), the investment and development subsidiary of Cushman & Wakefield | Thalhimer (“Thalhimer”), is pleased to announce that it has closed on the purchase of the Firestone Building in the City of Richmond, Virginia at a purchase price of $4,680,000. The Firestone Building, located at 1510 West Broad Street, is situated in the Fan District and in the immediate proximity of the Virginia Commonwealth University. It is one of 20 buildings built between 1900 and the late 1930s contributing to the nationally registered West Broad Street Commercial Historic District. The building is comprised of 17 apartment units, known as 1510 Lofts, and one commercial space totaling 10,000 square feet. The commercial space is occupied by Dollar Tree. The 1510 Lofts apartments include a mix of studio, one and two bedroom units ranging in size from 620 square feet to 875 square feet. Monthly rental rates start at $925 and go up to $1,300. Thalhimer’s Residential Property Services will manage the property on behalf of TRP. Beth Keller will be the portfolio manager responsible for the oversight of the property’s operations.

Written on July 28, 2017