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Out-of-town buyer takes over former Julian’s building

Posted at 10:28 AM, Oct 20, 2016
and last updated 2016-10-20 10:28:24-04

RICHMOND, Va. — An out-of-town buyer has staked a claim on West Broad Street with the purchase of a mixed-use property that was redeveloped several years ago.

Real estate investor Jana Crutchfield closed Oct. 14 on the $1.9 million acquisition of 2617 W. Broad St., a property that once housed Julian’s restaurant until it was transformed by Thalhimer Realty Partners. It currently is occupied by Mexican restaurant Lalo’s Cocina on the first floor and six apartments on the second level.

An entity controlled by TRP was the seller in this latest deal, which included the parking lot behind the 10,000-square-foot building.

The sale came about after Crutchfield approached TRP about a deal in July. Crutchfield was represented by David Smith and Catharine Spangler of Cushman & Wakefield | Thalhimer, a brokerage that’s a sister company to TRP.

John Walk, a Hirschler Fleischer attorney, represents 2617 West Broad LLC, the entity that bought the building. Walk said his client would not comment for this story.

TRP’s Drew Wiltshire, who handled negotiations for the company, said the deal would be attractive to a buyer looking to capitalize on the property’s income stream and potential to increase in value as the area near the intersection of West Broad Street and North Boulevard continues to see development.

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