Big Lots, Hooters, Auto Zone, leases

The commercial and residential building market is beginning to move. Not like it was in 2007 or 2008 but a gradual growth is in the wind.

In 2012, Chesterfield County issued 386 building permits for residential construction through the end of April. Now, in 2013, the Chesterfield building department has written 513 permits, an increase of 32 percent.

While that bodes well for the residential market, local citizens can see commercial projects growing up around them. Since January 1 there have been 231 commercial building permits issued by the county.

At least three new commercial projects are well underway. Two Bojangles – Jefferson Davis Highway at Bermuda Crossroad Shopping Center and another on Chester Road just south of Route 288 – and an Auto Zone on Iron Bridge Road in front of Walmart. Another site is being cleared at Branders Creek Drive and Riverton Drive just west of Walmart for retail space.

Big Lots is also building a big box store on Weir Place adjacent to Lowe’s.

Sales and leasing of existing commercial space is also beginning to rise as businesses, once again begin slight expansions.

The Hooters of America on West Hundred Road, west of Interstate 95, has taken possession of its franchised location and was reopened after the previous operator Cornett Hospitality’s bankruptcy. The Hooters under the Cornett banner closed last month.

The Ruffin Mill Center on Continental Boulevard in Walthall has a new tenant with Infocus Coatings, Inc. The company leased 8,000 square feet. The lease was handled by Colliers International.

At 7420 Whitepine Rd.,  Friends 4 Recovery leased 3,100 square feet. The deal was handled by Porter Realty.

Taylor Long Properties announced the signing of a lease between Bermuda Crossings Shopping Center, LLC, and Sola Salons for approximately 5,000 square feet of space.

A 1,600 square feet office condo was purchased by Tres Investments, LLC, and Ridout Homes, Inc. at 10310 Memory Ln., Suite 1B and 1E behind Chesterfield Meadows Shopping Center. Taylor Long Properties handled the sale.

Comments

Housing

Somewhere the numbers do not add up. In an article by Don Larter, Richmond Biz Sense January 29, 2013 Chesterfield's residential building permits for 2011 were reported to be 3089 and in 2012 to be 2722. Projecting your 513 residential permits would give 1539 in 2013; a decrease of 43% which is more in line with what I am hearing from builders and developers. Henrico County residential permits for the month of May year over year are up a whopping 64% for new home construction. Things are not as bright in Chesterfield as some may think.

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