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Space race
Leaders of a regional engineering firm figured finding office space in the Town Center of Virginia Beach would be a breeze. Newspapers were reporting that demand for offices was down nationally. But that isn’t the case in the Hampton Roads area, where the office vacancy rate was 8.1% for the first quarter of 2023, according […]
A rising tide
The Port of Virginia continues to drive commercial real estate activity in Hampton Roads as shipping and logistics companies seek footholds. The region’s office vacancy rate rose this year — from 8.1% at the end of the first quarter to 8.4% at the end of the second quarter — but is “relatively healthy compared to […]
Buc-ee’s buys land for second Va. location
A second Buc-ee’s Super Center is coming to Virginia along a busy stretch of highway in Shenandoah Valley near Mount Crawford. Buc-ee’s Mt. Crawford LLC purchased 21.3 acres located at the intersection of Interstate 81 and Friedens Church Road in Rockingham County from Lispen LLC for $6.6 million, Norfolk-based S.L Nusbaum Realty announced Tuesday. Plans […]
Henrico shopping center sells for $18.4M
Merchant’s Walk Shopping Center in Henrico County has sold for $18.4 million. Qi Lin, a local investor who in 2022 purchased the Southpark shopping center in Chesterfield County for $5.4 million, purchased Merchant’s Walk, according to Divaris Real Estate. Located at 7580 W. Broad St., Merchant’s Walk is at the intersection of West Broad Street […]
Glen Allen shopping center sells for $9.5M
A shopping center anchored by a Michaels craft store in Glen Allen sold for $9.5 million, Cushman & Wakefield | Thalhimer announced. Airport Hotel LLC, of Ellicott City, Maryland, bought Broad Street Plaza, located at 9856-9864 W. Broad St. in Henrico County, on Sept. 12. The four-tenant retail center is 100% leased and includes a […]
Cushman & Wakefield | Thalhimer hire Richmond VP
Brian Felton has joined Cushman & Wakefield | Thalhimer‘s Richmond office as a first vice president focused on industrial sales and leasing, the real estate firm announced Tuesday. Felton was previously a senior leasing manager with San Francisco-based Prologis, where he oversaw a 3.6 million-square-foot portfolio of industrial buildings in Richmond, Norfolk and Fredericksburg. According[...]
Real Estate 2023: LOUIS S. ‘LOU’ HADDAD
Haddad joined Armada Hoffler as an on-site construction superintendent in 1985. After several promotions, he was named president of Armada Hoffler Construction Co. in 1987, at age 29. In 1996, he was promoted to president of the parent company, and nearly 15 years after joining Armada Hoffler, he became the company’s CEO in 1999. He […]
Hazelwood Farms is set to become industrial park
A 328-acre former James City County farm is set to become the largest speculative industrial project along the Interstate 64 corridor between the Port of Virginia and Richmond. Hazelwood Farms was purchased for $12 million in April by Houston-based industrial real estate firm Lovett Industrial, which plans to develop a 2.2 million-square-foot business park on […]
Real Estate 2023: ROBERT M. ‘BOB’ KING
King was named chairman of the commercial real estate company’s board in May after his adoptive father, Harvey L. Lindsay Jr., died on April 19 at age 93. Lindsay adopted King and his brother, Billy, after he married their mother, Frances. Their father, naval pilot Robert M. King Jr., died in a training flight accident […]
Real Estate 2023: C. LEE WARFIELD
Warfield has led Thalhimer, one of the state’s oldest and largest commercial real estate firms, since 2016. Thalhimer Realty Partners, one of the company’s subsidiaries, is part of the team developing Richmond’s $2.44 billion Diamond District, a mixed-use project that will include a replacement baseball stadium for the Double-A Richmond Flying Squirrels baseball team. Richmond [&[...]
Real Estate 2023: ROBB ‘R.J.’ JOHNSON
With 30-plus years of industry experience, Johnson worked with The Staubach Co. beginning in 1995, ultimately serving as president for the mid-Atlantic region until it merged with Fortune Global 500 commercial real estate company JLL in 2008. Johnson has served JLL clients from offices in Delaware, Maryland, Virginia and Washington, D.C., for the past 15 […]
Winchester shopping center sale could revitalize area
During his time on Winchester City Council, Jeff Buettner recalls, plans to revitalize Ward Plaza shopping center were a frequent topic of conversation at every council retreat, going back as far as 1998. Now, as interim executive director of the Winchester Economic Development Authority, he believes that vision is coming close to fruition. “It is […]
