VCU buys former Va. ABC property for $16M

Virginia Commonwealth University on Friday purchased the former Virginia Alcoholic Beverage Control Authority’s former central office and warehouse at 2901 Hermitage Road in Richmond for approximately $16 million, according to Virginia ABC.

The sale of the 292,285-square-foot warehouse was included in the state operating budget. The Virginia ABC moved its headquarters and distribution center to a larger property in Hanover County in June 2021.

Purchasing the property is key to VCU’s plans for its Athletic Village project, which will be spread over about 40 acres (including the 20-acre parcel acquired through this transaction).

In December 2021, VCU bought 5.83 acres on Sherwood Avenue to be part of the project.

The whole project is expected to take five to seven years to complete in phases and will have a soccer stadium, indoor-outdoor tennis complex, outdoor track-and-field facility, practice fields and a multipurpose facility.

“The ABC parcel provides the final key piece for our vision of a VCU Athletic Village and allows us to move forward with the project. We have worked on the planning phase of these facilities for some time and now that we have the needed property, we will clear the site in the near future,” Ed McLaughlin, VCU vice president of athletics, said in a statement.

The Athletic Village is part of the city’s master plan for the Diamond District, which includes replacing the Richmond Flying Squirrels’ baseball stadium and revitalizing the area near the Scott’s Addition neighborhood. Three development teams have been chosen as finalists to develop the area, and they are expected to respond to a request for offers by June 28.