Caravati’s, the architectural salvage firm that has called South Richmond home for 80 years, may be moving.
Owner Jimmy Kastelberg has put his warehouse at 104 E. Second St. in the Manchester area up for sale. It has been on the market for about two weeks through commercial real estate brokerage Colliers International.
The asking price wasn't disclosed.
"We are going to continue the business. We have no intentions of closing - just relocating," said Kastelberg, whose grandfather, Louis Caravati, started the business in 1939. Kastelberg has owned it since 1984.
"We are actively looking for a place to move it to. I'm not sure what kind of space we will have. We probably will downsize and not carry as much inventory," he said. "We're looking just north of the city somewhere off Route 1 but nothing has been decided. We're just looking."
Caravati's operates in a 42,000-square-foot, two-story, warehouse built in the 1920s on 2nd Street between Stockton and Decatur streets. The property up for sale is 2.2 acres and includes a total of five parcels along 2nd, Stockton or Decatur streets.
The company moved to that location in the late 1990s, Kastelberg said. His Recent Ruins LLC bought the property in April 2002 for $700,000, city property records show. The five parcels are assessed for $833,000.
The Manchester neighborhood was a different place 20 years ago when he moved Caravati's there from another location in South Richmond than it is today, he said.
Manchester is thriving with new apartments, restaurants and offices. For instance, major developers have four different projects nearing completion or under construction that would add more than 1,000 apartments in the next two years.
Kastelberg said he wants to capitalize on the increasing interest in and revitalization of the neighborhood by developers.
"It's an opportunity for us. There's a lot of interest in the area and the area is changing," he said.
"The offering presents an ideal development opportunity in one of the city's most dynamic areas," according to the flyer from Colliers International promoting the sale. Charles Wentworth, senior vice president with Colliers, is the lead broker.
Caravati’s is the oldest architectural salvage firm in Richmond, carrying a variety of items from reclaimed flooring, fireplace mantles, scrollwork radiators to claw-foot tubs and chandeliers.