Commercial real estate activity in the Richmond metro area includes several notable property sales and lease agreements across office, retail, and industrial spaces.
The Richmond commercial real estate market saw a variety of transactions throughout May 2026, highlighted by key sales and leasing activity. Notable property acquisitions include JJO Properties' $1.975 million purchase of 3,824 square feet at 411 Libbie Avenue, and SC-Garland LLC's $690,000 purchase of 11,000 square feet at 2600 E. Marshall St. In Henrico, Fifthform LLC acquired 3,000 square feet at 12872 Patterson Avenue for $665,000, while King X Holdings purchased 2.74 acres at 2207-2209 Gordon Lane for $610,000.
Leasing activity remained robust across multiple sectors. Napa Transportation secured 23,500 square feet at 1120 Gordon Avenue in Richmond, and Electric RVA Co. leased 9,160 square feet at 1209 Admiral St. Additionally, First Onsite Property Restoration signed for 5,811 square feet at 306 Ashcake Road in Ashland. Various other retail and office leases were completed by firms including EAT Restaurant Partners, Consumer Cellular, and Summit Investment Planning.
The town of Blacksburg is pressuring the owner of a vacant four-story building at 210 N. Main St. to address ongoing code violations and structural decay.
JST Power Equipment opens a 45,000-square-foot transformer manufacturing facility in Wytheville's Fairview Industrial Park.
Recent commercial property transfers in the Richmond area include the $12 million sale of 9125 W Broad St in Henrico and the $15.25 million transaction for Meadow Creek Apartments.
Governor Abigail Spanberger announces that Southwest Virginia requires 8,600 new housing units to support regional economic development and job growth.
Marcus & Millichap brokered the $42 million sale of two industrial properties in Manassas, Virginia, totaling approximately 153,000 square feet.
Daily emails covering the projects and news that match your service area, building types, and the project stages you bid on.
Free now — first 50 founding members lock in 30% off at launch.
Free. One click to unsubscribe. No tracking pixels.