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Recent Articles from Rich Griset
Hampton Inn & Suites in Newport News sells for $9M
Chester-based Shamin Hotels has purchased a 120-room Hampton Inn & Suites in Newport News for $9 million. Shamin purchased the hotel, which it plans to renovate, from Yoder Inn Group LP as an investment. Located at 12251 Jefferson Ave. on approximately 2.65 acres, the hotel consists of 90 rooms and 30 two-room suites. Shamin, one […]
Capital Square buys apartments in Gainesville
Henrico County-based real estate investment company Capital Square has acquired SomerHill Farms apartments in the Gainesville area of Prince William County for an undisclosed amount. Located at 7351 Yountville Drive, the 140-unit multifamily community is situated on 18.76 acres. Constructed in 2006, SomerHill Farms features six three- and four-story residential buildings and a community clubhouse.[...]
Senior living community announced for Virginia Beach
Pembroke Realty Group and Beth Sholom Village have announced a new senior living community in the works for Virginia Beach. Located at the corner of Jeanne Street and Constitution Drive, the 7-story community will have 124 independent living apartments, 20 assisted living apartments and 12 memory support units. Designed by Kahler Slater Architects with programming […]
Arlington intends to extend ground leases for Courthouse Plaza
Arlington County and developer JBG Smith have entered into a letter of intent to restructure three ground leases that JBG Smith holds on government-owned land for a multiplex movie theater at 2100/2200 Clarendon Boulevard and office space at 2300 Clarendon Boulevard. While the county owns the land, JBG Smith owns the buildings. The letter of […]
Richmond property sells for $1.9M, leased to Starbucks
A Richmond property located at 2305-2309 West Broad Street sold for $1.9 million and was subsequently leased by Starbucks Corp. Lee Hall Plaza Inc. purchased the property, which includes 3,256 square feet sitting on 0.55 acres of land, from J.W. Willis. The parcel is located across the street from the Virginia Department of Motor Vehicles’ […]
Chesapeake office building sells for $7.5M
Virginia Beach-based property management company The Runnymede Corp. purchased Chesapeake office building Crossways Commerce Center IV for $7.5 million on Feb. 8. Located at 1408 Stephanie Way, the 51,209-square-foot building was purchased from Washington, D.C.-based real estate investment company DSC Partners. The flex building is 91% occupied by Leidos Holdings Inc. and 9% occupied by […]
Chester strip mall sold for $6M
Chester’s The Shoppes at River Forest, a 30,720-square-foot strip mall anchored by a Wal-Mart, was purchased on Feb. 26 for $6 million. Raleigh, North Carolina-based PGP River Forest purchased the property from Bogese Cos., a Richmond-based real estate development group. At the time of the sale, the center was 82% leased to tenants that include […]
Ministry buys Chesterfield building for $1.2M
Chesterfield County-based Mountain Movers Ministry has purchased a building near the intersection of Hull Street and Courthouse roads for $1.175 million. The ministry will relocate to 3300 Old Courthouse Road and occupy the entirety of the 8,942-square-foot building. The property is situated on 7 acres. Gray Bryant, an associate with Colliers International Virginia, represented the […]
Norfolk’s MacArthur Center may meet the wrecking ball
Downtown Norfolk’s MacArthur Center, a 140-store mall that opened in 1999, may have a future date with a wrecking ball. According to a newsletter released March 2 by Norfolk’s economic development department, a complete teardown of the 1.1 million-square-foot structure is one of three possibilities envisioned for MacArthur Center’s future by the city, which does […]
Dominion joins initiative to create electric vehicle charging network
Dominion Energy Inc. and five other major utilities announced a plan Tuesday to create a network of charging stations for electric vehicles across major highway systems stretching from Washington, D.C., to Chicago to West Texas and the Florida Heartland. The newly announced Electric Highway Coalition — made up of American Electric Power, Dominion, Duke Energy […]
