According to Richmond BizSense, commercial real estate firms have reported $160.6 million in sales from 34 deals for the first four months of 2011, up more than 200 percent from the $47.9 million in sales for the same period in 2010.
“The office market for sales is just beginning to pick up a little steam, and I suspect that we will see some fairly steady activity from here on out,” said Walton Makepeace, a broker with CB Richard Ellis.
Makepeace was one of the brokers involved with the second-largest deal to move forward this year: Dominion Realty Partners’ $63.7 million sale of Riverside on the James to McLean-based American Real Estate Partners.
“I think that deal will start some momentum in downtown Richmond for office building sales,” Makepeace said.
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