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Commerce Road Industrial Portfolio Sold to City of Richmond

January 2013

The City of Richmond purchased a portfolio of properties along the Commerce Road corridor from Ashbys Real Estate Investment LLC with plans to relocate their fleet maintenance facilities from the current location off North Boulevard in preparation for redevelopment of the 60-acre North Boulevard site.  The Commerce Road complex will house maintenance operations for City vehicles ranging from police cars to public works trucks.  Dick Porter represented the seller in the marketing and sale negotiations.