DMB is excited to announce that the two Class A office buildings, the retail core and an additional 6.88 acres in the Main Street District were purchased this week by HCCJ Family GP, LLC. The buyer paid $13.02 million for the development and plans to hold this commercial property as an investment. Main Street Property Management will continue to work with the tenants and the Verrado community.
Early in the development of Verrado, one of the signature attractions was an active Main Street, located within walking distance for residents, reflective of the architecture and small town feeling of our community. This business core has improved over the years and currently includes Bashas’, CVS, Ciao Grazie and others. In addition, several local companies have opened successful businesses including Anderson Institute of Music & Performing Arts, Tempo Urban Bistro and Coffee Bar, and medical service providers. As the community grows, this Main Street will continue to grow as well.
The Jackson, Davis and buildings with retail shops in the Main Street District were part of the sale and the additional 6+ acres of land in the Main Street District is ready for additional residential, retail or commercial development.
This year, Verrado opened a number of new phases of development in Verrado, including the final phase of the Heritage District. Victory at Verrado, the first 55-plus district in the community, also debuted this year.
DMB’s overall business plans for their commercial properties is to plan, entitle, design, build, and lease these properties. Once these communities are stable and successful, DMB positions them for sale them at the optimal time. This is an improving market and t he company continues to take advantage of the right opportunities.
Looking ahead, DMB is working on the development of additional commercial districts in Verrado and plans to bring more quality services and employers to support the Verrado community and the region.