Changes afoot for old Macy’s building at Virginia Center Commons

Posted at 9:05 AM, Aug 03, 2018
and last updated 2018-08-03 09:07:36-04

HENRICO COUNTY, Va. — A group of local investors has bagged the bones of a closed department store at a struggling Henrico mall and is weighing how to re-use the property.

Impact Investments Group last week purchased the vacant Macy’s building at Virginia Center Commons for $1.3 million, according to a deed on record at the county.

The 110,000-square-foot building and its 9-acre site at 10101 Brook Road most recently were assessed for $2.1 million.

David Kalman, a broker with Colliers International who represented Impact Investments, said the group is mulling several ideas on how best to redevelop the space, which could include keeping it primarily commercial or converting all, or part of it, into mixed use.

“All options are on the table,” Kalman said. “We’re coordinating with the mall and looking at all opportunities for the space.”

Kalman would not identify the people behind Impact Investments, nor any of the group’s previous investments in the Richmond area.

He said they have had initial talks with Henrico County planners about the Macy’s property, but have not submitted any plans for the site.

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