The nature of most business in Richmond is administration. This is because the main economic forces in the city are finance, government and law. Since they are home to federal administrative offices (of all sizes), it’s no surprise that this is where the jobs are.
And because of its history, tourism in Richmond VA is also another steady source of income. This past recession hit the city very hard, as Richmond’s office vacancy rate reached an alarming 16.5 percent, up from the healthy 10 percent it was experiencing before the economic crisis hit the country.
The Richmond office rental market continues to decline, giving tenants the upper hand in deciding which units to rent and lease or lease (short or long term). All is not lost, however, as new developments have emerged that have led to more job opportunities, such as the Canal Walk, the Richmond Convention Center,
and the VCU (Virginia Commonwealth University) campuses. All of this current growth will help Richmond Virginia survive as an important part of the countries economic growth. We also have space in Norfolk, Alexandria, Fairfax, Roanoke and more.
Downtown Richmond and local business landmarks:
Downtown Richmond is defined by Belvidere Street to the west, I-95 to the north and east, and Office Suite the James River to the south. The Fan, home to Monument Avenue, lies in the areas between the Boulevard,
Main Street, Broad Street and VCU. It has an extensive collection of Victorian architecture in its field. Downtown Richmond has many interesting buildings and tourist attractions that give it a long historical background. Some of the major buildings (commercial and historic) you’ll see on your way downtown are The American Civil War Center, The Colosseum, Virginia State Capitol
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