Winter Weather advisory in effect for North West Virginia
Virginia Supreme Court upholds Capitol Square gun ban

The National is sold for less than its assessed value

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

The National music venue on East Broad Street downtown was sold for $6.7 million last week. (PHOTO: Evelyn Rupert)

RICHMOND, Va. — A downtown music venue was sold last week to a massive West Coast entertainment company.

The National was purchased on Sept. 30 for $6.7 million by an entity tied to Los Angeles-based AEG Live, a concert promoter and venue operator whose parent company owns sports arenas and professional sports teams around the world.

AEG Live bought the property at 708 E. Broad St. through Mid-Atlantic Propco LLC, according to city records.

The National was sold by RIC Capital Ventures LLC, a company that for the last 11 months had been entangled in a legal dispute among its owners over how the business and its money were being managed.

Click here to continue reading on about how the sale price compared to the National’s assessed value.


  • rfrstormer

    I did not know that this was operational. What was it like? Anything good about it vrs the other similar ventures in the area?

    • Manlishi

      Smaller venue, best acoustics and “in house’ sound system in this region. Standing room only on the main floor. Well worth a higher ticket price for a band you like.

  • Manlishi

    Less than assessed value? Business 101 indicates that it was assessed 4.36 more than its actual cash value. After it’s 15 million renovation in 08, this is a perfect example of the risk investing in Richmond. $4.5 million was tax credit $ (taxpayers $).

Comments are closed.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.