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Tag: commercial real estate

JBG Smith breaks ground on two mixed-use towers in Arlington

Maryland-based developer JBG Smith Properties announced Tuesday that it had started construction on two mixed-use towers in National Landing.

The multifamily towers, located at 2000 and 2001 S. Bell St., will bring 775 rental apartments and nearly 27,000 square feet of retail space to National Landing.

“The start of construction at 2000 and 2001 S. Bell St. is a major milestone in National Landing’s ongoing transformation and delivers on our pledge to build new housing in lockstep with Amazon and Virginia Tech’s growth in the neighborhood,” Bryan Moll, executive vice president of development at JBG Smith, said in a statement.

New York-based architecture firm KPF designed 2000 S. Bell St. to be a 25-story glass tower with 355 units and 15,000 square feet of ground-floor retail space. Paris-based Studios Architecture’s D.C. office designed 2001 S. Bell St. to be a 420-unit, 19-story tower with 10,000 square feet of street-level retail. It will have a green-glazed brick façade. Both buildings are targeting LEED Gold Certifications.

2001 S. Bell St. rendering courtesy JBG Smith

Amenities will include rooftop views of National Landing and the Washington, D.C. skyline, co-working spaces, dog-grooming stations, in-garage bike parking and electric vehicle charging stations.

Demolition and other site work began in early 2021, and the Arlington County Board approved the project in May 2021. The project includes dedicated affordable housing and funding for a new library to be located in National Landing, as well as site and adjacent infrastructure improvements and dedicated funding for parks and open space.

The project is the second major multifamily development that JBG Smith has started in the past year. The South Bell Street towers are a block away from its planned 808-unit mixed-use development at 1900 Crystal Drive, which the company began construction on in March 2021. The development will have 808 units and 38,000 square feet of street-level retail across two 300-foot towers.

JBG Smith currently has 1,583 units under construction and an additional 1,760 units in a development pipeline. In November 2021, a company representative said that the developer’s housing portfolio in the National Landing neighborhood included 2,586 existing apartments.

Kingstowne office buildings sell for $13M

Two office buildings in the Kingstowne area of Fairfax County have sold for $12.9 million, Avison Young announced last week.

Melrose Solomon Enterprises purchased two office buildings at 5901 Village Parkway and 5695 King Centre Drive from The Halle Cos., based in Maryland.

The larger property, 5695 Kings Centre Drive, is three stories, and was built in 2002. It is on the eastern edge of Kingstowne, near South Van Dorn Street, and has 44,252 square feet of net rentable space. The second building, at 5901 Kingstowne Village Parkway, has 22,117 square feet of net rentable space. It is on the northern boundary of the Kingstowne Towne Center. Combined, the properties are 93% leased to medical offices, government contractors and other tenants.

Representing the seller was an Avison Young Capital Markets team led by Chip Ryan and Matt Weber. Jon Goldstein, Wes Boatwright and Mike Yavinsky, all at Avison Young, arranged the financing on behalf of Melrose Solomon.

Park West End apartments sell for $59M

Henrico County-based property development company McCann Realty Partners LLC acquired a 312-unit apartment community in its own backyard for $59.25 million on Dec. 27, according to Henrico County property records.

Built in 1985, the 224,768-square-foot apartment community sits on 18 acres at 5300 Glenside Drive. The buildings have one- and two-bedroom floor plans, and amenities include a dog park and swimming pool.

McCann will upgrade exterior finishes, interiors and amenities. Pegasus Residential, McCann’s Atlanta-based affiliate property management company that it acquired in September 2021, will manage the property.

Fifth District economy has moderate growth, Fed says

The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, 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 gathered from the 12 Federal Reserve Banks about economic conditions in their districts. It is compiled from reports by bank and branch directors, as well as interviews with and online questionnaires completed by business contacts, economists, market experts and other sources.

Retailers and trucking companies reported strong demand, and ports had record-breaking volumes, particularly in imports. Manufacturers reported a modest increase in shipments, new orders and backlogs, but low inventory levels due to supply shortages. Although hotels had to limit rooms or services offered because of staffing shortages, leisure travel increased hotel occupancy rates. Residential real estate inventories remained low, but commercial real estate saw increased activity. Banks reported a slight decline in loan demand.

Employment slightly increased in the Fifth District, but businesses continued to face a tight labor supply. Multiple firms reported unfilled job openings and difficulties finding qualified candidates, and several said that their employees received unsolicited job offers from other companies. Some began to look into technology and automation as a result. Wage increases for many companies were higher than the usual year-end increases, and for some, those increases were in addition to others made earlier to attract and retain employees.

In recent weeks, price growth increased from its already elevated rate. On average, service sector firms saw received prices up by more than 6% compared to last year. Respondents reported raising wages and passing their increased labor costs through to final prices. Manufacturers also reported strong growth in prices paid and received, with freight and energy as the sources of some of the largest cost increases.

Manufacturers saw a moderate increase in shipments and new orders followed by increased backlogs. They reported continued low inventories of raw materials and finished goods and lengthening lead times for multiple components.

Fifth District ports continued to have record-breaking volumes driven by imports. The volumes of exports were down slightly except for those for farm equipment. Several ports received diversion from other East Coast ports due to congestion. Most ports said they were running at or over capacity and did not expect the U.S. container capacity to increase until at least 2023. Shortages in transportation equipment and warehouse space left imports sitting at ports and rail yards.

Trucking companies noted unusually strong demand for this time of year across both the industrial and retail sectors, although some turned away business because of driver and equipment shortages. Employment and equipment costs rose, but the companies have been able to pass them to customers.

Increased customer traffic put retailers on track to meet 2019 sales. They reported passing on the higher costs of goods and labor. Auto dealers benefitted from the high prices of used vehicles and increased demand for service on existing cars, but new car sales were down from continued low supply.

Leisure travel bolstered the travel and tourism sector. Staff shortages, however, led hotels to hold back rooms or limit services. Restaurants also had to limit their options because of staff shortages, reducing hours or days of service. They reported reducing their menus because of supply chain disruptions.

The residential real estate market experienced a seasonal slowdown but remained strong. Average days on the market increased slightly. Rising construction costs, long waits for materials and equipment and labor shortages continued to slow construction.

The commercial real estate market had moderately increased activity. The industrial sector saw low vacancy rates and rising sale prices and rental rates. Office leasing slightly improved, but tenants remained hesitant, mainly signing short term lease renewals.

Banks cited a seasonal slowdown in overall low demand that the omicron variant of COVID-19 might have contributed to. Limited supply slowed mortgage lending and auto lending. Commercial real estate and business lending remained steady.

Ore. vacation rental company buys two Va. Beach businesses

Portland, Oregon-based vacation rental management company Vacasa announced Monday it had acquired two Virginia Beach companies: Sandbridge Realty and Beach Pros Realty.

Vacasa did not disclose financial details of the transactions.

The acquisitions mark Vacasa’s entry into Virginia.

“Virginia Beach is a highly sought-after East Coast vacation spot. …The homes managed by Sandbridge Realty and Beach Pros Realty are valuable portfolio additions for us, because they appeal to both long-term family stays as well as shorter economy stays in a drive-to market,” Zac Monahan, Vacasa vice president of corporate development and homeowner success, said in a statement.

Vacasa is extending offers to the companies’ employees and retaining their four total office locations. The vacation rentals on the two sites will be integrated into the Vacasa booking site by summer.

Sandbridge Realty founder and owner Betsy Atkinson said in a statement, “I’m extremely proud of the business my team and I have built, the partnership we’ve established with homeowners and the service we’ve delivered to guests over the past 30 years, and I trust Vacasa is well-positioned to take it to the next level. Our homeowners won’t see any near-term changes, but will benefit from Vacasa’s advanced marketing, technology tools and booking channel partnerships to drive more consistent, year-round reservations.”

Breeden Co. names new president and CEO

More than 60 years after Ramon W. Breeden Jr. founded his Virginia Beach-based real estate development company, The Breeden Co. has new leadership.

Chief Operating Officer Timothy Faulkner has been promoted as the company’s next president and CEO, after more than 20 years with the Virginia Beach-based company, and Breeden, who founded the company in 1961, will remain chairman of the board, maintaining an active presence at the company. Faulkner was promoted to president of property management at the same time he was promoted to COO, in 2011. The COO position left vacant by Faulkner will not be filled, however, a new president of property management will be named shortly. Breeden’s son, C. Torrey Breeden, who has worked alongside him for 20 years, will continue as The Breeden Co.’s executive vice president, focusing on land acquisition and development.

“Having created this company and serving nearly six decades in the top executive leadership role, I feel this is the right time for a leadership change,” Breeden said in a statement. “I am proud of The Breeden Co.’s executive team and the businesses we are building.”

Faulkner

The Breeden Co. has “experienced consistent growth over the last 10 years, in part due to [Faulkner’s] expertise,” the company wrote in a news release. Before joining The Breeden Co., Faulkner served as president and COO of Lawton Lumber Co. Prior to that, he was vice president of operations for American Coating Technologies LLC and served as a process engineer and production manager for Procter & Gamble.

“I am honored to be named the next president and CEO of The Breeden Co., and want to thank Ramon W. Breeden, Jr. and Torrey for the confidence they have placed in me to lead this strong organization,” Faulkner said in a statement. “I welcome working with the executive leadership team and benefiting from everyone’s experience as we continue to grow the company.”

Faulkner earned his bachelor’s degree in operations research and systems analysis with a minor in civil engineering from the United States Military Academy at West Point and spent four years in the U.S. Army as a platoon leader, assistant operations officer and battalion personnel officer in the 82nd Airborne Division at Fort Bragg, North Carolina.

In the decades since it was founded, The Breeden Co. has owned, managed or developed more than 15,000 apartments, 1,700 single-family homes and more than 2 million square feet of retail and office space. In 2021, The Breeden Co. broke ground on the $66 million luxury Pinnacle Apartments in Virginia Beach.

In 2010, Breeden Realty, Breeden Property Management and Breeden Construction had newly-appointed presidents, after Ramon Breeden stepped back from his role as president across all divisions. Then in 2011, The Breeden Co. launched two new divisions providing third-party construction services and third-party property management services.

Breeden started the company from the trunk of his Pontiac convertible and the back room of a grocery store and grew it from 20 employees to more than 425 today. Within the company’s first 15 years, Breeden was listed among the top 500 builders in the nation. In 2020, the company did more than $350 million in business. In 2021, the company announced a $2.4 million, 6,500-square-foot expansion of its Virginia Beach headquarters.

Recent commercial real estate sales in Virginia

Central Virginia

  • An 8,540-square-foot mixed-use building in Lynchburg sold for $1.3 million. Built in 2018, the property, located at 1285 Enterprise Drive,  includes three two-bedroom, two-bathroom apartments and two first-floor commercial suites, both under long-term leases. It was 100% occupied at the time of sale. Virginia Beach-based Anjuna LLC bought the property from FOF LLC. Clay Taylor of Cushman & Wakefield | Thalhimer’s Capital Markets Groip out of Roanoke handled the sale.
  • Eight acres of land at 9225 Old Cool Springs Road in Hanover County sold for $1.2 million. The buyer, Denver-based Nexcore Group,  purchased the land, with plans to develop an assisted living facility at the site. David M. Smith of Cushman & Wakefield | Thalhimer represented the buyer.
  • Magnolia Wash and Express Property Holdings LLC purchased 1880 Stavemill Crossing Lane for $1.1 million. The property is located in Powhatan County and sits on 2.08 acres. Peter Vick and Harrison Hall represented the seller, Stavemill II LLC.

Eastern Virginia

  • An office building in Norfolk’s Ghent neighborhood at 501 W. 21st St. sold for $3.46 million. OMD Enterprise LLC purchased the 14,762-square-foot building from TowneBank as an investment and future home of its corporate offices. The three-story office was built in 2011 and is 100% occupied by ABNB Federal Credit Union, Nusbaum Insurance Agency and Rose & Womble Chandler Property Management LLC. Rob Wright of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the buyer.
  • A 34,607-square-foot flex building in Norfolk sold for $2 million. 1000 City Hall LLC sold the building located at 1000 East City Hall Ave. to Catholic Diocese of Richmond Bishop Barry Knestout.
  • A 16,980-square-foot office building in Virginia Beach sold for $1.8 million. The property, on 1.49 acres at 5511 Princess Anne Road, was sold by B&W Properties to Glen DeVere Building LLC as an owner occupant investment. Janet Whitbeck and Josh Fulton of Cushman & Wakefield handled negotiations on behalf of the seller.
  • A 13,400-square-foot industrial building on two acres in Chesapeake sold for $1.4 million. The property is located at 916 Executive Court and was sold by Cliff Sipe to J. A. Maks LLC. Tony Weiss of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the buyer and the seller.

White Marsh Shopping Center sells for $4.1M

White Marsh Shopping Center in Gloucester County has sold for $4.1 million to Nexus Capital LLC.

The seller of the property was White Marsh Properties LLC, which was the owner for more than 40 years.

The shopping center has both retail and storage space.

The shopping center, first developed in 1961, has 110,029 square feet, which includes 15,046 square feet of mini storage units and 94,983 square feet of retail space, including Bubba’s Shrimp Shack, Moody’s Event Center and others. The center is about six miles north of the George P. Coleman Memorial Bridge.

Janet Moore, with Berkshire Hathaway Home Services, who represented the seller, said the center was home to long-term local businesses and the owner was passionate about promoting aspiring entrepreneurs.

At the time of the purchase, the shopping center was 96% leased and days later, 99% was leased, with one vacancy remaining.

Kevin E. Cox ,with Porter Realty Co., represented the buyer. 

 

Commercial real estate leases across Va.

The following leases were completed between Dec. 14, 2021, and Jan. 10:

Central Virginia

  • Matt Gentry Agency renewed 1,151 square feet at 8401 Patterson Ave. in Richmond. Catherine Walker of Colliers Virginia handled the transaction on behalf of the landlord.
  • American Pest Management leased 5,007 square feet at 1750 E Parham Road in Richmond. Joe Marchetti, Rebecca Barricklow and David Wilkins of Colliers Virginia handled the transaction on behalf of the landlord.
  • Life Insurance Co. of North America leased 2,672 square feet at 4435 Waterfront Drive in Glen Allen. Joe Marchetti, Rebecca Barricklow and David Wilkins of Colliers Virginia handled the transaction on behalf of the landlord.
  • Dapsyn Inc leased 1,809 square feet at 1503 Santa Rosa Road in Henrico County. Catherine Walker, David Wilkins and Matt Anderson of Colliers Virginia represented the landlord.
  • Virginia Tech expanded and renewed 9,332 square feet at 2810 N. Parham Road. John Carpin and Malcolm Randolph of Colliers Virginia handled the transaction on behalf of the landlord.
  • WorldPac Inc. renewed its lease of 34,500 square feet of industrial space at Fairgrounds, Building G, 4551-4593 Carolina Ave,. in Henrico County. Dean Meyer of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Celebree School leased 10,694 square feet of retail space at The Shoppes at Twin Oaks, 3601-3641 Cox Road, in Henrico County. Annie O’Connor and James Ashby IV of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Justmanes Hair Salon leased 8,450 square feet of retail space at Robious Hall Shopping Center, 10064 Robious Road, in Chesterfield County. Connie Jordan Nielsen, Alicia Brown and Nicki Jassy of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • PbMares LLP renewed its lease of 7,282 square feet of office space at Westerre II, 3957 Westerre Pkwy., in Henrico County. Dean Meyer and Mac Wilson of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Index Fasteners renewed its lease of 6,000 square feet of industrial space at 12639 Oaklake Crest Way in Chesterfield County. Gregg Beck of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • G2 Orthopedics renewed its lease of 5,006 square feet of office space at West Shore I, 100 Concourse Blvd., in Henrico County. Amy J. Broderick and Mark E. Douglas, of Cushman & Wakefield | Thalhimer, handled the lease negotiations on behalf of the landlord.
  • Greater Richmond Partnership Inc. leased 4,333 square feet of office space at Gateway Plaza, 800 E. Canal St., in the city of Richmond. Brian K. Berkey, Karla Knight, and Rett Turner of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • La Fuenta Cargo Dz Inc. renewed its lease of 3,150 square feet of office space at 2948 Bells Road in the city of Richmond. Michael A. Shaia of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • BrecoTea leased 3,000 square feet of retail space at Westpark Shopping Center, 9645 W. Broad St., in Henrico County. James Ashby IV and Annie O’Connor of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • An affiliate of the New York Life Insurance Company leased 2,672 square feet of office space in Innsbrook Corporate Center at the New York Life Building, 4435 Waterfront Drive, in Henrico County. Brian K. Berkey and Karla Knight of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • D.R. Hill & Associates Inc. leased 2,118 square feet of office space at Winchester Building, 10800 Midlothian Tnpk., in Chesterfield County. Amy J. Broderick and Evan Magrill of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Sugarcoat Nail Lounge leased 1,506 square feet of retail space at Carytown Exchange, 3550 W. Cary St., in the city of Richmond. David Crawford and James Ashby IV of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Sweet Frog renewed its lease of 1,380 square feet of retail space at Short Pump Station, 11301 W. Broad St., in Henrico County. James Ashby IV handled the lease negotiations on behalf of the landlord.
  • Riverside Counseling PLLC renewed its lease of 1,019 square feet of office space at 8003 Franklin Farms Drive in Henrico County. Amy J. Broderick and Kate Hosko of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Victorino de la Barrera leased 4,280 square feet at 6290 Old Warwick Road in the city of Richmond.  Colton Konvicka and Ryan Fanelli of Commonwealth Commercial Partners LLC represented the landlord.
  • Capital Interior Contractors Inc. leased 35,000 square feet at 11011 Richardson Road in Hanover County.  Ben Bruni and Tucker Dowdy of Commonwealth Commercial Partners represented the landlord.
  • ICONEX LLC expanded with a 68,742 square foot industrial lease at Enterchange at Northlake, Building B, 11700-11768 N Lakeridge Pkwy., in Ashland. Evan Magrill and Dean Meyer of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Patterson Dental Supply, Inc. renewed their lease of 11,789 square feet of industrial space at Windsor Business Park II, 8570 Magellan Pkwy., in Henrico County, VA. Gregg W. Beck handled the lease negotiations on behalf of the landlord.
  • Proseal America Inc. leased 10,000 square feet of industrial space at 7640 Whitepine Road in Chesterfield County. Gregg W. Beck of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Anthony & Sylvan Pools Corp. leased 6,600 square feet of industrial space at Crescent Business Center I, 10408 Lakeridge Pkwy., in Hanover County (Ashland). Craig Douglas, Graham Stoneburner and R. Scott Douglas of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Custom RVA Inc. leased 4,086 square feet of retail space at 9011-9019 W Broad St. in Henrico County. James Ashby IV and Reilly Marchant of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Rusty Taco leased 3,500 square feet of retail space at Short Pump Crossing, 11521 W. Broad St. in Henrico County. Alex T. Wotring and David Crawford of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Maple Street Biscuit Co. leased 2,600 square feet of retail space at 2061 Huguenot Road at Huguenot Village, in Chesterfield County. Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Charles Kitchen LLC leased 2,160 square feet of retail space at Parkside Marketplace, 10865 W. Broad St., in Henrico County. Richard L. Thalhimer of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • RunSignUp Inc. leased 1,738 square feet of office space at West Shore Office Park, 100, 201, 301 Concourse Blvd., in Henrico County. Amy J. Broderick and Mark E. Douglas of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Ahart Capital Management LLC renewed its lease of 1,341 square feet of office space at Moorefield I, 812 Moorefield Park Drive, in Chesterfield County. Amy J. Broderick and Evan Magrill of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • George Edward Roden renewed its lease of 1,279 square feet of office space at Moorefield I, 812 Moorefield Park Drive, in Chesterfield County. Amy J. Broderick and Evan Magrill of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Trillium Staffing leased 1,207 square feet of office space at the Winchester Building, 10800 Midlothian Tnpk., in Chesterfield County. Amy J. Broderick and Evan Magrill of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Potter’s Craft LLC leased 11,465 square feet of retail space at 1820 Broadway Street in Charlottesville. John Pritzlaff and Jenny Stoner of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
  • ZielBio Inc. leased 8,221 square feet of office space at 1317 Carlton Ave. in Charlottesville. Jenny Stoner of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Club Champion Golf leased 2,601 square feet of retail space at 29th Place, 750 Twentyninth Place Court in Charlottesville. Alex T. Wotring of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
  • Atlantic Wireless Communications Inc. leased 1,204 square feet of retail space at Pantops Plaza, 2040 Abbey Road, in Charlottesville. John Pritzlaff and Jenny Stoner of Cushman & Wakefield | Thalhimer handled lease negotiations.
  • Joyner Fine Properties LLC leased 16,219 square feet of office space at Reynolds Office Building, 6641 West Broad St., in Henrico County. Mark E. Douglas and Amy J. Broderick of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.

Eastern Virginia

  • Concrete by Design renewed 1,250 square feet at 605 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • Antonio Goodman renewed 1,250 square feet at 605 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • Plaza Azteca renewed 7,464 square feet at 12099 Jefferson Ave., Newport News. Mac Houtz of Drucker & Falk represented the landlord.
  • Mac’s Heating and Air renewed 1,250 square feet at 605 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • COMTek renewed 1,250 square feet at 607 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • Grace Industries Inc. renewed 1,250 square feet at 605 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • REBAMC Inc. renewed 1,150 square feet at 6618 &6620 Main St., Gloucester. Mac Houtz of Drucker & Falk represented the landlord.
  • Hanover Habitat for Humanity leased 13,032 square feet at 7193-F, 7199, and 7211 Stonewall Parkway, Mechanicsville.  Mac Houtz of Drucker & Falk represented the landlord.
  • Steven F. Kennedy leased 1,800 square feet at 107 Nat Tuner Blvd., Newport News. Michael Shapiro of Drucker & Falk represented the tenant.
  • Rusmir Canic & Sadina Canic renewed 1,250 square feet at 607 Industrial Park Drive, Newport News. Michael  Shapiro of Drucker & Falk represented the landlord.
  • Picture This expanded into 2,400 square feet at 3301 Hampton Highway, Yorktown. Michael Shapiro of Drucker & Falk represented the landlord.
  • DT Electric renewed 1,250 square feet at 605 Industrial Park Drive, Newport News. Michael Shapiro of Drucker & Falk represented the landlord.
  • Johnson Controls Inc. leased 36,902 square feet of industrial space at 3750 Progress Road in Norfolk. Geoff Poston of Cushman & Wakefield | Thalhimer,  handled the lease negotiations on behalf of the landlord.
  • Alliant Tech Systems, LLC/Vista Outdoor Inc. renewed its lease of 21,349 square feet of industrial space at 2645 International Parkway in Virginia Beach. Janet Whitbeck and John P. Duffy, of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • RAI Care Centers of Virginia I LLC leased 11,050 square feet of freestanding medical office space to be built at 3115 Jefferson Ave. in Newport News. Wick Smith of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • VIRTUCOM renewed its lease of 7,000 square feet of industrial space at Battlefield Lakes Tech Center II, 525 Byron St., in Chesapeake. William C. Throne, of of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Quality Coatings of Virginia Inc. renewed its lease of 5,100 square feet of industrial space at 3900 Holland Blvd. in Chesapeake. Geoff Poston of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • The Watch Barn, Inc. renewed its lease of 4,225 square feet of retail space at Triangle Shopping Center, 1935-A Victory Blvd., in Virginia Beach. Dean G. Martin and Tom Dana of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Jason Hodges and Adam Garcia leased 4,000 square feet of industrial space at 5900 Thurston Ave. in Virginia Beach. Tom Dana of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • BK Tobacco leased 2,900 square feet of retail space at Shady Banks Shopping Center, 2900 Hampton Highway, in Yorktown. Wick Smith of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Beacon Hill Staffing leased 1,603 square feet of office space at 4525 Main St. in Virginia Beach. Josh Fulton of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • CTR Corp. leased 1,500 square feet of office space at 309 County St. in Portsmouth. Josh Fulton of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Tiny Textures LLC leased 1,203 square feet of retail space at Midtown Row, 220 Monticello Ave., in Williamsburg. Danielle Beckstoffer of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.

Northern Virginia

  • Loving Air Inc. leased 8,515 square feet of industrial space at 450 Nelms Circle in Stafford County. Virgil G. Nelson of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Mi Tierra leased 4,000 square feet of retail space at 5097 Jefferson Davis Highway in Spotsylvania County. Joby Saliceti of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • C&F Mortgage leased 3,978 square feet of office space at Central Park Corporate Center, 1121-1440 Central Park Blvd., in the city of Fredericksburg. Jamie A. Scully and Sharon E. Schmidt of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Power Door Products Inc. renewed its lease of 3,750 square feet of industrial space at 11724 Main St. in Spotsylvania County. Virgil G. Nelson and Wilson H. Greenlaw, Jr., of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Colson and Weaver LLC expanded with an additional 3,660 square feet of industrial space at 11724 Main St. in Spotsylvania County. Wilson H. Greenlaw, Jr., of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Chi Martial Arts Academy LLC leased 3,200 square feet of retail space at Portsmouth Station, 10294-10440 Portsmouth Road, in Manassas. Berkley M. Mitchell and Sharon E. Schmidt of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Evolve Management Partners Inc. leased 2,200 square feet of office space at Townsend Square Office Park, 1955 Jefferson Davis Hwy., in the city of Fredericksburg. Jamie A. Scully handled the lease negotiations on behalf of the landlord.
  • Legacy Hospice leased 1,900 square feet of office space at 600 Pegasus Court in Winchester. Jamie A. Scully, Jenny Stoner and John Pritzlaff of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Commonwealth Provisions LLC expanded with an additional 1,875 square feet of industrial space at 11724 Main St. in Spotsylvania County. Wilson H. Greenlaw, Jr., of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Thermo Quick, Inc. renewed its lease of 1,875 square feet of industrial space at 11724 Main St. in Spotsylvania County. Virgil G. Nelson and Wilson H. Greenlaw, Jr., of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Victor Zhdanov leased 1,800 square feet of industrial space at 5104 Park Drive in the city of Fredericksburg. Virgil G. Nelson and Adam Nelsonof Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord; Mark J. Banach, also with Thalhimer, represented the tenant.
  • TECX LLC leased 1,620 square feet of office space at Central Park Corporate Center, 1121-1440 Central Park Blvd., in the city of Fredericksburg, VA. Jamie A. Scully and Sharon E. Schmidt of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • In & Out Chicken and Grill leased 1,600 square feet of retail space at Portsmouth Station, 10294-10440 Portsmouth Road, in Manassas. Berkley M. Mitchell and Sharon E. Schmidt of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Richard Brooks renewed its lease of 1,500 square feet of industrial space at Fred II Warehouses, 4901-4978 Commerce Drive, in Spotsylvania County. Virgil G. Nelson of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Flinn Piano Studio Inc. leased 1,187 square feet of office space at Brafferton Square Office Park, 300 Garrisonville Road, in Stafford County. Sharon E. Schmidt of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.

Roanoke/New River Valley

  • Williamson Drug Company Inc. renewed its lease of 13,758 square feet of retail space at 18377 Westinghouse Road in Abingdon. Wyatt Poats of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant, along with Cushman & Wakefield out of Tampa, Florida.
  • Dollar Tree Stores Inc. leased 8,984 square feet of retail space at the former Pier 1 located at 4952 Valley View Blvd. NW in Roanoke.  Jessica A. Johnson of Cushman & Wakefield | Thalhimer handled the negotiations on behalf of the landlord.
  • 1-800-Radiator & AC renewed its lease of 7,000 square feet of industrial space at 2825 Mary Linda Ave. in Roanoke. Bill Poe of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Humana Marketpoint renewed its lease of 4,138 square feet of office space at 3800 Electric Road in Roanoke. Barry Ward of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Rithy Properties LLC leased 3,000 square feet of retail space at 4012 Melrose Ave. in Roanoke.  Jessica A. Johnson and Wyatt Poats of Cushman & Wakefield | Thalhimer handled the negotiations on behalf of the landlord.
  • Integrity Financial Inc. renewed its lease of 2,000 square feet of office space at Fountain Square, 1315 2nd St. SW, in Roanoke. Barry Ward and Price Gutshall of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
  • Jersey Mike’s Subs leased 1,400 square feet of retail space at 101 W. Commonwealth Blvd. in Martinsville. Alicia Brown and Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
  • Commonwealth Roofing Specialists LLC leased 1,050 square feet of office space at Glen Heather Square, 2149 Electric Road SW, in Roanoke.  William D. Poe and Wyatt Poats of Cushman & Wakefield | Thalhimer handled the negotiations on behalf of the landlord.

Lease transactions are published on the second Monday of each month. Send any commercial real estate transactions to Associate Editor Robyn Sidersky at [email protected] by the Friday prior. 

Six-building portfolio in Manassas sells for $45M

A six-building portfolio, comprising 212,000 square feet of warehouse and flex space in Manassas, has been sold by Bethesda, Maryland-based Finmarc Management to The Davis Companies and David Holdings JV for $45.58 million, Finmarc Management Inc. announced Jan. 5.

The buildings are located at 7345, 7663 and 7795 Coppermine Drive and 7201, 7301 and 7401 Gateway Court. Some of the tenants include AIM-Port LLC, Capital Lighting & Supply LLC, Cedar F&B, Eaton Corp., DH Cos. LLC, Lennox Industries Inc. and Notal Vision Inc.

Marc Tasker, Ryan Moody and Christopher Kubler of NAI KLNB represented Finmarc Management. Joseph Hoffman and Aaron Rosenfeld of Kelley Drye provided legal services.