CAHN buys South Side medical building
Jeremy M. Lazarus | 8/13/2020, 6 p.m.
The nonprofit Capital Area Health Network is the new owner of the Manchester Medical Building at 101 Cowardin Ave., previously one of the area’s largest African-American-owned medical office buildings in the city.
CAHN, which largely serves low-income residents in the Richmond area, bought the 37,000-square-foot building on July 31 for $2.75 million.
According to city records, the building has an assessed value of $4.5 million.
Tracey Causey, CAHN’s chief executive officer and executive director, said the purchase “confirms our commitment to providing quality health care in the South Side.”
The sellers included Manchester Realty, an investment group led by Dr. Renard A. Charity, a retired physician, that had developed the building in 1986, and Laburnum Properties, a nonprofit arm of the Bon Secours Health System, which owned the land.
The building has 18 listed tenants, primarily a mix of physicians and dental offices and nonprofits.
CAHN has operated a clinic and health education center in the South Side building. However, it is one of the three clinics CAHN closed during the pandemic. Four others are still operating, including one in Chesterfield County and three in the city in Church Hill, Fulton and North Side.
Robert D. Jones II and Colby Kay of ICON Commercial, a subsidiary of the African-American-owned ICON Realty Group LLC, handled the purchase on CAHN’s behalf.
The sale took 18 months to complete, they said.
