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Cobalt Real Estate Solutions names new CIO
Virginia Beach-based investment fund Cobalt Real Estate Solutions has named Tim McCann as its chief investment officer, the company announced Tuesday. Cobalt, an affiliate of Divaris Real Estate Inc., is seeking to raise $50 million in equity to add $150 million in properties to its portfolio. and McCann will seek investment opportunities, develop investment strategy […]
Capital Square names VP of marketing
Capital Square has promoted Sydney Hockaday to vice president of marketing, the Henrico County-based real estate investment firm announced May 9. Hockaday joined Capital Square in 2018 as the firm’s marketing coordinator and has been promoted three times, first to marketing manager in 2019, then to assistant vice president of marketing in 2021 and most […]
Two Richmond properties change hands
Two properties in Richmond — an office building in Scott’s Addition and an apartment building in The Fan — have been sold, brokerage firm Marcus & Millichap announced Wednesday. An 11,130-square-foot building in Scott’s Addition at 3412 W. Leigh St. has sold for $1.8 million, according to Marcus & Millichap. According to city property records, […]
Salem apartment complex sells for $12M
A 132-unit apartment complex in Salem has sold for $12 million, Cushman & Wakefield | Thalhimer announced Wednesday. Viewnorth Apartments LLC purchased the property from Northview Apartments LLC on April 29. The buyer plans to upgrade the community, according to a news release about the transaction. The apartments are located at 411 to 515 Yorkshire […]
Henrico townhouse complex sells for $18.5M
The Townhomes of Oakley, a 160-unit multifamily property in eastern Henrico County, has sold for $18.5 million, Cushman & Wakefield announced Thursday. Located at 4633 Needham Court near the Richmond International Airport, the property is 99% leased and has eight one-bedroom units, 112 two-bedroom units, 36 three-bedroom units and four four-bedroom units, all of which […]
CoStar Group buys former SunTrust building in Richmond
CoStar Group Inc. has expanded its Richmond footprint with the $20 million purchase of the former SunTrust office building on the James River. The five-story, 117,448-square-foot building at 901 Semmes Ave. will be occupied by at least 400 employees, however the company has not determined which teams will occupy the space yet, a CoStar Group […]
89 acres near Richmond airport sells for $4.78M
New York-based real estate company Ashley Capital has purchased 89 acres of land near Richmond International Airport in Henrico County for $4.78 million, Cushman & Wakefield | Thalhimer announced April 27. The land, at 7001 S. Laburnum Ave., had been owned by Pruitt Properties Inc. The new owner will use the land for a new […]
Fairfax County retail portfolio sells for $200M
A portfolio of retail buildings in Fairfax County’s Kingstowne community has sold for $200 million, Avison Young’s Capital Markets Group announced Thursday. The portfolio has 410,398 combined square feet of retail space anchored by Safeway and Giant supermarkets and includes part of Kingstowne Towne Center and of Kingstowne Shopping Center. It has 61 tenants, and […]
Fifth District economy growth is moderate, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) continued to grow moderately despite supply chain issues, labor shortages and rising prices, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information [&hellip[...]
39% of metro D.C. workers are back in the office
During the week of April 6, offices around the country had the highest number of workers back at their desks since March 2020, according to Falls Church-based Kastle Systems, which is tracking office occupancy data for 10 major cities, including the metro Washington, D.C., region. During the first week in April, an average of 43.1% […]
Va. construction contractor upsizes Roanoke office
Chesterfield County-based commercial and industrial contractor Atlantic Constructors Inc.’s Roanoke team moved this month into a renovated building double the size of its previous office and shop/warehouse space. The building at 1302 Rockland Ave. NW is 32,000 square feet. Property records show that ACI Suffolk LLC purchased the building for $1.95 million on Sept. 14, […]
Norfolk mobile home parks sell for $9.75M, $6.4M
Two mobile home parks in Norfolk have sold, one for $9.75 million and one for $6.4 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Thursday. Located at 6659 E. Virginia Beach Blvd., Smitty’s Mobile Home Park consists of 136 pad sites on about 12.3 acres. Bonaventure bought the property from Hendrick Family LLC […]
