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Former Concorde Holdings CEO joins Capital Square
Drew Jackson, former president and CEO of Michigan-based Concorde Holdings, has joined Glen Allen-based real estate company Capital Square as senior managing director of private wealth solutions, the firm announced Tuesday. Jackson also joined the executive management team. A Radford University graduate, Jackson has more than 25 years of experience in supporting wealth advisers and […]
Historic Richmond apartment building sells for $5.25M
A 32-unit apartment building in Richmond sold for more than $5.52 million on Jan. 16, according to city property records. Located at 3003 Parkwood Ave., The Parkwood was listed on the National Register of Historic Places in 2016. Built in 1941 and designed by well-known Richmond architects J. Binford Walford and O. Pendleton Wright, the […]
Franklin apartments sell for $18M
A 244-unit apartment community in Franklin sold for $18 million on Dec. 28, 2023, according to a news release from S.L. Nusbaum Realty. Located at 201 Forest Pine Road, the Forest Pine Apartments have traditional and garden-style one-, two- and three-bedroom units. The 23.27-acre property has a community swimming pool and playground area. Forest Pine […]
$550 million development planned for Pittsylvania’s Axton area
Plans for a $550 million mixed-use development in Pittsylvania County’s Axton area include a five-story, 150-room hotel and a 180,000-square-foot shopping center anchored by a grocery store, but it’s the project’s housing component that most interests the county’s economic development director, Matthew Rowe. “First and foremost,” he says, “it is addressing a major nee[...]
Apartments in Orange sell for $1.9M
A 48-unit apartment community in the Town of Orange has changed hands, according to One South Commercial. Belleview Apartments LLC purchased a 40,111-square-foot property with 48 units for $1.9 million from Belleview LLP. The apartments are located at 222-224 Bellevue Ave. in Orange. According to town property records, the property was built in 1911. Ryan […]
Norfolk apartment complex sells for $38.5M
Enterprise Community Development, a nonprofit affordable housing provider, has purchased Woodmere Trace, a 300-unit Norfolk community, from Raleigh, North Carolina-based Fulton Peak Capital. Enterprise closed the $38.5 million sale on Dec. 20, 2023. Woodmere Trace is located at 6741 Tanners Creek Drive. The 300 garden-style apartments, comprised of one- and two-bedroom units, were built in [&helli[...]
Cushman & Wakefield | Thalhimer promotes two SVPs
Two Cushman & Wakefield | Thalhimer commercial brokerage first vice presidents have been promoted, the Glen Allen-based real estate firm announced Friday. Wick Smith and Jenny Stoner are now senior vice presidents. Smith joined Thalhimer’s Virginia Beach office in July 2015 and specializes in retail sales and tenant representation. He works with operators of regional shopping […]
Breeden Construction finishes $9.3M Crozet condos
Breeden Construction has completed a $9.3 million mixed-use condominium project in Crozet, the Richmond-based general contractor announced Tuesday. In December 2021, Breeden Construction started work on the Old Trail Village by clearing the 1-acre property in Albemarle County. The four-story, approximately 55,000-square-foot building has 31 condo units with balconies. The ground floor is 18,045 sq[...]
Virginia Beach Holiday Inn sells for $16.25M
A 307-room Holiday Inn in Virginia Beach sold for $16.25 million in mid-December 2023, according to city property records. The six-story Holiday Inn Virginia Beach – Norfolk, located at 5655 Greenwich Road, was built in 1981, property records show. It opened in 1982, according to a news release from commercial real estate firm CBRE, and […]
Fed’s Fifth District economy sees mild expansion
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) expanded mildly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions[...]
Suffolk industrial property sells for $7.5M
An industrial warehouse building in Suffolk has a new owner. American Industrial purchased the 256,800-square-foot industrial warehouse building on 11.6 acres from Nansemond Cold Storage for $7.5 million, according to a Dec. 29, 2023, Cushman & Wakefield | Thalhimer news release. American Industrial will upgrade and improve the property, which is located at 115 Dill […]
Breeden Construction completes Newport News apts.
Richmond-based Breeden Construction has finished work on the Lift & Rise on Jefferson, a community with 81 townhomes and garden-style apartments in Newport News. The $18.5 million project, done for the Newport News Redevelopment & Housing Authority and Pennrose, a Philadelphia-based developer, started in June 2021 with cleanup and preparation of land on Jefferson Avenue […]
