Brookland Park is poised to become the next “it” neighborhood in Richmond and young investor Cory Weiner is getting in on the action early.
A local and lifelong Richmonder, Weiner’s investment career began with a flipped house in the West End. After buying and renovating houses for the next few years, he was ready to expand into the long-term real estate investment game.
While listing his first commercial property in Church Hill, Weiner was introduced to Ann Schweitzer Riley, a commercial agent at One South Commercial. Riley and Weiner have worked closely together ever since, and it was Riley who introduced him to the potential of the Brookland Park neighborhood.
Originally, Riley only showed Weiner 125 -127 W Brookland Park Boulevard, but when he noticed that 119 and 123 were also for sale, the opportunity for large scale revitalization was realized. One property might make a dent, but getting tenants in almost an entire block could make a huge difference in the neighborhood.
Riley quickly brokered the closing of 119, 123, 125, and 127 W Brookland Park Boulevard with the support of fellow One South Commercial agent Lory Markham. During this acquisition period, she worked with 3 different owners and listing agents between the four storefronts. Despite the complicated nature of multiple agents and owners, Riley secured the closings within 4 days, giving Weiner ownership of almost the entire block.
The 100 block of W Brookland Park Boulevard will be in good company, with multiple Richmond businesses already setting up shop in the neighborhood. A full lineup of local cafes and restaurants have recently opened their doors, including the Luncheonette, Black Hand Coffee, and Nomad Deli. A fourth Lamplighter Roasting location is slated for the 200 block. Rest In Pieces, Savage Clothing, and Charles Berger Tattoo round out the recent retail additions to the neighborhood.
Weiner’s interest in investing in the Brookland Park neighborhood goes far beyond the prestige of simply owning a portfolio of properties. Many of the commercial spaces along Brookland Park Boulevard are run by local residents which helps foster a sense of community. Weiner hopes to continue to trend with his recent acquisitions and is on the lookout for future investments in the area.
Riley is currently fielding interest for all of the vacant storefronts, which will be renovated before tenants move in. While no tenants are under contract as of July 12th, 2017, Riley said restaurants and retail have contacted her about the properties. The goal is to have all storefronts leased in the coming weeks, a milestone that would further boost the burgeoning vibrant community of Brookland Park.
You can read more about Brookland Park Boulevard, Cory’s investments, and One South’s role in this Richmond BizSense article.