As the year-end stretch begins, it’s a good time to take stock of the commercial real estate market. Here’s a quick look at what’s moving in Richmond.

Haynes Furniture and The Dump are closing. The Virginia Beach-based retailer will close permanently after 128 years, with going-out-of-business sales beginning October 8. Richmond-area sites include Haynes at 6550 Hull Street Road and 9515 West Broad Street, and The Dump at 7204 Brook Road. Expect new retail vacancies once liquidation wraps. With Richmond retail vacancy at 3.6% in Q2, well-located sites should draw interest. That’s our read, not reported fact, and the sources don’t say what will happen to the buildings. 

Hardywood acquires Starr Hill Brewery. Richmond-based Hardywood bought Crozet-area Starr Hill in an all-equity deal that closed October 1, with terms undisclosed. Both breweries will keep operating at their current locations. This is a company acquisition, not a property trade, and no closures were announced.

Rockpoint buys 1M+ sq. ft. of industrial space in Chesterfield. Per county records, Rockpoint paid $108 million for 1.03 million sq. ft. at 2701 Bermuda Hundred Road. It’s a strong signal of institutional appetite for Richmond-area logistics. 

Q3 market snapshot. Industrial remains the strongest sector. CBRE reports vacancy down 20 bps to 5.2%, 12.2 million sq. ft. under construction, and asking rents up 11.6% year over year. Office is softer, as vacancy rose 70 bps to 12.3%, largely from space Costar vacated for its new downtown campus. In the Diamond District, the 276-unit Dōma apartments are under construction, with leasing expected in early 2028.

The 2026 VCU Real Estate Trends Conference was hosted by the VCU Kornblau Real Estate Program on October 8, 2026, at the Henrico Sports & Events Center in Glen Allen, VA. This 34th annual conference hosted over 1,800 industry professionals, students, faculty, staff and alumni from sectors such as law, finance, construction, development, brokerage and appraisal, for a morning of networking and learning about the trends shaping real estate.

The program had two main features. The first was a cybersecurity session where Dominion Energy’s Sean Stalzer and technology lawyer Beth Waller (Woods Rogers) discussed cyber threats to national security through the lens of protecting the power grid. VCU framed it around how AI is heightening cybersecurity risks for real estate. A key takeaway was updating all personal passwords to a length of 18 characters.

The second was a real estate keynote, delivered by Marci Rossell, a former CNBC chief economist and co-host of “Squawk Box,” with Renee Haltom of the Federal Reserve Bank of Richmond moderating. Her talk covered America’s role in the global economy, the factors behind recessions, how Washington influences the markets, and the U.S. forecast. Another key takeaway was that the Social Security trust fund is projected to be depleted in 2032. 

All in all, the conference paired timely concerns about technology risk with a broad economic outlook, giving Virginia’s real estate community plenty to think about, and plenty of people to talk to, as the year heads toward its close.

Office
Richmond = 8.2%
USA = 13.6%

Industrial
Richmond = 4.6%
USA = 7.2%

Multi-Family
Richmond = 8.3%
USA = 7.9%

Retail
Richmond = 4.5%
USA = 4.3%

The Richmond Renaissance Dancers will present this multimedia program showcasing the majesty and elegance of court dancing from the perspective of Queen Elizabeth I and her courtiers. 

Browse the talented work of local artisans. Plus, enjoy food, drinks, sweets, and treats available for purchase from a variety of vendors throughout the day.

Skate beneath the lights, race down the giant ice slide, take in breathtaking views from the Ferris wheel, enjoy seasonal food and drinks, and experience the spirit of the holidays.

Chock-full of delightful songs and splashy production numbers, A Christmas Story, The Musical, has proudly taken its place as a perennial holiday classic for the whole family.

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Commercial Real Estate Advisor

Licensed in VA

757.817.5163

kristy.geiger@evrealestate.com | kristygeiger.evrealestate.com

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