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U.Va. creates new center for real estate
The University of Virginia has established a new Center for Real Estate and the Built Environment at the McIntire School of Commerce with a $10 million alumni gift, the university announced Tuesday. The center, which will serve as a hub to bring together U.Va.’s commercial real estate curriculum with university research, is being launched with […]
Virginia Beach medical building sells for $21M
A medical office building in Virginia Beach sold for $21 million, Nashville, Tennessee-based buyer Montecito Medical Real Estate announced Thursday. Located at 1717 Will O’ Wisp Drive, the two-story Beach Medical Pavilion has 52,000 square feet. Its tenants are Gastroenterology Ltd. of Virginia Beach and OrthoVirginia. The property is across the street from Sentara Virginia […]
Capital Automotive Real Estate acquired for $3.8B
McLean-based Capital Automotive Real Estate Services Inc. has been acquired by Los Angeles-based investment management firm Ares Management Corp. for $3.8 billion, Ares announced Thursday. Ares bought the company from a Brookfield private real estate fund, according to a news release from Ares. The purchase was made with funds managed by Ares’ alternative credit strategy […]
Arlington’s The Millennium apartment building sells for $200.5M
An affiliate of Washington, D.C.-based The UIP Companies Inc., in partnership with New Jersey-based furnished housing company Churchill Living, purchased The Millennium apartment building in Arlington for $200.5 million on Jan. 20, Arlington property records show. Located at 1130 S. Fair St., near Metropolitan Park — the first phase of Amazon.com Inc.’s HQ2 — the […]
Va. Beach shopping center sells for $5.9M
The Indian River Shopping Center in Virginia Beach has been sold for $5.9 million, Cushman & Wakefield | Thalhimer announced Wednesday. JFS Real Estate LLC purchased the 89,189-square-foot shopping center from Indian River Shopping Center Land LLC as an investment. The shopping center, which includes a Food Lion and Burlington, is located at 880 S. […]
Florida firm buys two Henrico buildings for nearly $19M
Hollywood, Florida-based investment group Savlan Capital announced Monday that it has purchased two medical offices in Henrico County for $18.96 million. The buildings are part of the Windsor Business Park in the western part of the county and were bought from Newport Beach, California-based REIT Modiv. Savlan acquired a 51,800-square-foot flex building at 8575 Magellan […]
Newport News apartments sell for $51M
The Cottage Grove Apartments complex in Newport News has been sold for $51 million. New York-based real estate company Beachwold Residential LLC sold the 112 building complex with 552 units to Virginia Beach-based real estate firm Featherstone Partners. The complex was originally built in 1948 and renovated in 2009. Featherstone plans to add amenities and […]
JLL announces NoVa office move
JLL is moving its Northern Virginia office from Vienna to 1800 Tysons Blvd. in McLean, the commercial real estate company announced Monday. JLL will occupy nearly 24,000 square feet of the building, owned by Lerner Enterprises, with the move set during the first quarter of the year. Form Architects designed the office, which meets LEED […]
Lowe’s warehouse to create 70 jobs in Roanoke County
A new Lowe’s warehouse and distribution center is expected to create 70 jobs in Roanoke County, the $11 million project’s developer announced Monday. Lowe’s Cos. Inc. has hired Roanoke-based Cherney Development, in partnership with North Carolina-based Samet Corp., to build a 60,000-square-foot distribution warehouse and distribution center on an 8.45-acre site in Roanoke County&[...]
Chesapeake shopping center sells for $6.85M
Woodford Square Shopping Center in Chesapeake has sold for $6.85 million, Harvey Lindsay Commercial Real Estate announced Friday. The 85,323-square-foot shopping center sits on 9.19 acres at 701 N. Battlefield Blvd. Its tenants include Harbor Freight Tools and Dollar General. Woodford Square Associates LP sold the property to Moxie Equities Woodford Square LLC. Ryan King, […]
Va. Beach industrial building sells for $6.79M
An industrial building in Virginia Beach has sold for $6.79 million, Cushman & Wakefield | Thalhimer reported. The 69,120-square-foot industrial building is located on 3.93 acres at 5740 Bayside Road, near Norfolk International Airport in the Airport Industrial Park. It was built in 1975 and renovated in 2015 and has six loading docks. 5740 Bayside […]
Prince William data center sells for $222.5M
Columbia, Maryland-based Corporate Office Properties Trust (COPT) sold DC-6, a data center in Prince William County, for $222.5 million to Cloud Capital, an affiliate company of Washington, D.C.-based CloudHQ, COPT announced Jan. 25. The data center, which was built in 2009, is located at 9651 Hornbaker Road and has 100,000 square feet in raised floor […]
