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Richmond receives 5 proposals for City Center project
Five groups of developers sent in proposals to redevelop Richmond’s newly rebranded City Center Innovation District, a 9.4-acre downtown area that includes the closed Richmond Coliseum, the Richmond Economic Development Authority and the Greater Richmond Convention Center Authority announced Wednesday. An evaluation panel will assess the five entries and pare them down to a short […]
Fed’s Fifth District economy expands slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has expanded slightly since October, 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 g[...]
Va. Tech’s real estate program becomes department
Virginia Tech’s real estate program has earned approval from the State Council for Higher Education to become the Blackwood Department of Real Estate. Becoming a department housed under the Pamplin School of Business will offer the former program more resources, enhance its academic and experiential learning offerings and boost its ability to recruit top faculty […]
Coworking hub for entrepreneurs opening in Harrisonburg
The brains behind the Staunton Innovation Hub are working on bringing a new hub to a new city: the $4.5 million Harrisonburg Innovation Hub is expected to open in late 2023, investors and partners announced Tuesday. Harrisonburg “has a very vibrant and growing startup ecosystem in place already, and there’s just a need for it […]
Richmond seeks developers for Coliseum property
Two Richmond city authorities issued a request for interest Thursday to redevelop the area surrounding the Richmond Coliseum into a hotel-anchored mixed-use development, the City Center Innovation District. Owned by Richmond’s economic development authority, the 9.4-acre property includes the shuttered Coliseum and other structures that were part of the failed Navy Hill development proposal.[...]
Thalhimer buys Diamond District properties for $4.6M
TRP Hermitage LLC, an entity connected to Richmond-based Thalhimer Realty Partners Inc., has purchased two industrial properties near The Diamond baseball stadium in Richmond for $4.6 million, S.L. Nusbaum Realty Co. announced Thursday. It was an off-market deal, according to Thalhimer. The plots — 0.735 acres at 1701 Rhoadmiller St. and 0.978 acres at 2508 […]
Pharrell urges Norfolk to speed up Military Circle development
During a news conference before his three-day Mighty Dream forum kicked off Tuesday, music superstar Pharrell Williams said he is waiting for Norfolk to officially approve his development team’s Wellness Circle project at Military Circle Mall, noting, “I’ve been told many times that we won it. … You have to ask the city. The ball’s […]
HII leases space in National Landing
Newport News-based Huntington Ingalls Industries Inc. could soon add its name to a building in Arlington’s National Landing area. The Fortune 500 military shipbuilder has signed an 11.5 year lease with JBG Smith for 36,809 square feet in an 11-story office tower at 2451 Crystal Drive, the Bethesda, Maryland-based real estate firm announced Tuesday. The […]
Roanoke apartments sell for $14.6M
Gramercy Row Apartment Residences has a new owner. Tazewell Development LLC sold the 82-unit apartment community with ground floor commercial space in downtown Roanoke to a private investor group for $14.6 million on Sept. 22, according to Cushman & Wakefield | Thalhimer. The apartments, built in 2017, are located at 206 Williamson Road SE. Clay […]
Industrial property in Richmond sells for $3.7M
Warwick Trade Center, a 38,056-square-foot flex industrial property in south Richmond, has been sold for $3.7 million, according to Cushman & Wakefield | Thalhimer. CIG 6290 RFO LLC, an affiliate of Cohen Investment Group, sold the property to Standard Properties Inc. on Sept. 27. Located at 6290 Old Warwick Road, the property is on 2.25 […]
Danville Quality Inn sells for nearly $5M
A Quality Inn hotel in Danville with 58 rooms has changed hands. Anil Patel purchased the hotel located at 2175 Riverside Drive in Danville from Riverside Motel Corp. for $4.275 million, according to Colliers. The new owner expects to continue operating the hotel as a Quality Inn under a license from Choice Hotels. Prashant Merchant […]
Roanoke Days Inn sells for $3M
A Roanoke Days Inn has a new owner. Saul Urban LLC purchased the 165-room hotel, located at 601 Orange Ave., from Shri Sainath Enterprises LLC for $3 million, according to Colliers. The new owner is planning a comprehensive renovation of the property and is exploring alternative uses. Prashant Merchant and Nic Wade, both of Colliers, […]
