Top Richmond Submarkets to Watch for Commercial Real Estate Growth in 2026
Richmond isn’t just growing — it’s expanding in every direction. As developers, investors, and businesses continue to look beyond traditional corridors like Downtown and Scott’s Addition, a new set of emerging submarkets is quietly taking shape.
These areas combine the right mix of affordability, infrastructure, and lifestyle — and they’re poised to define the next phase of Richmond’s commercial real estate boom.
🗺 1. Manchester — Still the Market to Watch
With over $400 million in active development and thousands of new residents moving in, Manchester continues to lead the charge south of the James. The growth of mixed-use projects, riverfront redevelopment, and creative office conversions has created a near-perfect ecosystem for long-term investors.
What’s missing — and what could unlock the next wave — is retail infrastructure. A grocery store or major anchor could cement Manchester as a self-contained urban district.
🏭 2. Shockoe Bottom & Shockoe Slip
Long considered “historic but tricky,” Shockoe is finally attracting serious attention. Flood mitigation projects and public-private partnerships are opening the door for large-scale adaptive reuse. The combination of walkability, character architecture, and proximity to Downtown positions this submarket as Richmond’s next creative hub.
Expect boutique hotels, experiential retail, and tech startup offices to lead the charge.
🧱 3. Fulton & Rocketts Landing
Eastward expansion is heating up. Rocketts Landing set the tone years ago, but nearby Fulton is now seeing steady interest from developers seeking large parcels near the river. Improved access from I-64 and the Capital Trail make it a prime target for mixed-use and logistics investments.
As Downtown prices rise, Fulton’s value play will attract more mid-sized investors and infill developers in 2026.
🚀 4. The Diamond District
With the new Richmond Flying Squirrels stadium project underway, the surrounding Diamond District is a once-in-a-generation development opportunity.
Expect a surge of retail, multifamily, and hospitality investment — with ripple effects stretching into Northside and neighboring industrial corridors.
This submarket could become the single largest catalyst for new CRE inventory in Richmond over the next five years.
🏗 5. North Chesterfield & Midlothian Corridor
As the city densifies, outer submarkets are benefiting from proximity and accessibility. Developers are targeting North Chesterfield for logistics and light industrial projects, while Midlothian continues to see strong medical, office, and retail growth tied to population shifts.
The key here isn’t speculation — it’s strategic alignment with infrastructure and workforce accessibility.
💡 What This Means for Developers and Investors
Richmond’s story in 2026 isn’t about one hot neighborhood — it’s about distributed opportunity. From adaptive reuse downtown to ground-up industrial southside, every pocket of the city offers something distinct.
Those who pair vision with strategic marketing will win early.
🎥 HD BROS CRE Perspective
At HD BROS, we help developers and investors showcase projects that define the future of the city — before they even break ground. Whether it’s investor storytelling, drone documentation, or leasing visuals, our work helps you get seen, funded, and filled faster.
Richmond’s submarkets are shifting — make sure your brand is part of the conversation.