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A new look at Va. Beach’s Atlantic Park
The $350 million Atlantic Park surf park development planned for Virginia Beach’s Oceanfront will start construction in October or early November, developers told Virginia Business this week. Virginia Beach-based Venture Realty Group also shared new renderings of the project, which Venture has been co-developing with music icon and Virginia Beach native Pharrell Williams. In planning stages[...]
Alexandria bank buys building, brings employees together
Burke & Herbert Bank & Trust Co. has acquired a $22 million office building in Alexandria to bring many of its employees together under one roof. The Alexandria-based bank announced July 11 that it had bought the 110,047-square-foot office building at 5680 King Centre Drive. The seller was not disclosed. The bank will bring together […]
Capital Square acquires The Trails at Short Pump
Henrico County-based real estate investment firm Capital Square has acquired The Trails at Short Pump, a 350-unit apartment community in western Henrico, the company announced Tuesday. Located at 3900 Acadia Lane, the nearly 32-acre property offers one-, two- and three-bedroom units averaging 878 square feet each. The acquisition is on behalf of CS1031 Trails at Short […]
Colonial Heights shopping center sells for $5.45M
Q&L Realty LLC has purchased the Southpark Square Shopping Center in Colonial Heights from the Colonial Heights Land Associates Limited Partnership for $5.45 million, Divaris Real Estate Inc. announced Thursday. The 35,705-square-foot retail shopping center is located at 1829-1865 Southpark Blvd. in Colonial Heights. The shopping center is on 6.67 acres of land about 20 […]
Bowman hires longtime client as Leesburg manager
Bowman Consulting Group Ltd. has named Gary VanAlstyne as the company’s branch manager and principal at its Leesburg office. VanAlstyne brings more than 30 years of experience in construction and development to Bowman, with which he had worked closely as a client since 2000. He previously served as vice president of Fairfax-based Davis Utility Consulting […]
Chesapeake office building sells for $11M
Investment group Gracestone Investments LLC has purchased an 81,318-square-foot office building in Chesapeake from GSI Inc. for $11 million, Cushman & Wakefield | Thalhimer announced July 5. The property, located at 850 Greenbrier Circle, is 100% leased to Canon U.S.A. Inc. Rob Wright of Cushman and Wakefield | Thalhimer brokered the transaction and handled sale […]
Cortland completes $1B investment in Arlington
Cortland, an Atlanta-based multifamily real estate investment, development and management company, has completed its initial round of apartment acquisitions in Arlington with the purchase of Evo Rosslyn, a 27-story apartment building. The purchase is part of a $1 billion investment in multiple Arlington apartment communities, first announced in May. Evo Rossyln will be renamed Cortland […]
Norfolk apartment community sells for $12.4M
Cleghorn Capital purchased a 104-unit apartment community in Norfolk from Israeli investment fund Valore for $12.8 million, Marcus & Millichap announced July 7. Valore at Southern Park, located at 7922 Old Ocean View Road, has three buildings, each with two stories, and was built in 1964 and renovated in 1999. The 104,944-square-foot property has 5.04 […]
Williamsburg apartments sell for $100M
Alexandria-based real estate company Bonaventure has sold The Bend Arbordale apartments in Williamsburg for $100 million. Bonaventure sold the 289-unit apartment complex to Illinois-based The Inland Real Estate Group, Bonventure announced Friday. Located at 401 Bulifants Blvd., the community has two- and three-bedroom apartments with private balconies or patios. It has a swimming pool, fitness [&h[...]
Roanoke business center sells for $6.8M
Century Business Center in Roanoke has sold for $6.8 million, Cushman & Wakefield | Thalhimer announced this week. ABMAR Century Business Center LLC, a regional investment group purchased the 52,306-square-foot multitenant flex-office building from Planta LLC. The property was 92% leased at the time of the sale. Price Gutshall and Wyatt Poats of Cushman & […]
Alexandria apartments sell for $50.1M
Baltimore-based Continental Realty Corp. has sold 101 North Ripley Apartments in Alexandria for $50.1 million, the company announced last week. Washington, D.C.-based real estate investment and management firm Willow Creek Partners acquired the apartment community, formerly known as Parkwood Court. The community has 189 units, with one-, two- and three-bedroom floorplans. It was first acquired [&h[...]
Lingerfelt sells Va. Beach hotel for $82M
Richmond-based commercial real estate investment firm Lingerfelt Commonwealth Partners LLC has sold the Delta Hotel by Marriott Virginia Beach Bayfront Suites for $82 million to New York-based Black Pearl Capital, Lingerfelt announced June 17. Lingerfelt Commonwealth Partners acquired the hotel in 2018 for $19 million and completed a $29 million renovation and rebranding. Located in […]
