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Dated Scott’s Addition office buildings to get modern overhaul

A local real estate investment firm paid $2.5 million for a cluster of office buildings along W. Marshall Street last week.

Trevor Dickerson

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From Richmond BizSense:

Another chunk of Richmond’s hottest neighborhood has caught the eye of local developers.

Three aging office buildings in Scott’s Addition were acquired last week by a group that has plans to gut and redevelop one of the properties in the near-term and potentially bring new construction to the remaining two sites over time.

The group, led by Yogi Singh, formerly of local real estate investment firm Capital Square 1031, paid around $2.5 million for 3122, 3113 and 3015 W. Marshall St., a cluster of two-story office buildings built in the 60s and 70s. The deals closed Sept. 1 and included adjacent parking lots. They also bought 3115 Clay St., but immediately sold it to another party, Singh said.

Read the full article from Richmond BizSense.

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Trevor Dickerson is the Editor and Co-Founder of RVAHub.