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$41.9M apartment building coming to Richmond’s Manchester neighborhood
Atlanta and Washington, D.C.-based developer Capital City Real Estate is building a seven-story, 173,000-square-foot multifamily project in Richmond’s Manchester neighborhood about a mile from downtown Richmond. Colliers, which assisted with the financing, announced the $41.9 million project Nov. 11. Commodore will have 173 residential units and 3,500 square feet of ground-floor retail space[...]
Springfield office building sells for $29.3M
The Springfield Corporate Center office building sold for $29.3 million, New York-based real estate company Newmark Group Inc. announced Wednesday. Located at 6225 Brandon Ave., the five-story building is 138,830 square feet. The building was constructed in 1988 and renovated in 2014 and 2015 in a $2.7 million program. The property is 84% leased, primarily […]
Va. Beach apartment complex sells for $98.5M
Coastline Apartments, a 600-unit apartment complex in Virginia Beach near Virginia Wesleyan University, has been sold for $98.5 million, Northmarq announced Wednesday. Northmarq represented the seller, Arlington-based Blackfin Real Estate Investors, in a joint venture with GMF Capital. The complex is on 36 acres at 631 Lake Edward Drive. It has a swimming pool, playgrounds, […]
Henrico County retail property sells for $31M
A Baltimore-based real estate developer has purchased The Row at GreenGate, a retail property in the Short Pump area of Henrico County, for $31 million, Colliers International announced Thursday. The 100,000-square-foot property at 12151 W. Broad St. was bought by DK Greengate LLC, an entity connected to Klein Enterprises, which increases its holdings in Virginia […]
Two NoVa office properties sell for $118M, $27.6M
Monday Properties has acquired two properties in Northern Virginia, the real estate investment firm and developer announced Thursday. The firm closed deals on Three Ballston Plaza, a 330,000-square-foot office building in Arlington’s Rosslyn-Ballston corridor, for $118 million and a 184,000-square-foot office building at 3141 Fairview Park in the Merrifield submarket of Fairfax County for $2[...]
Divaris to be Norfolk’s World Trade Center leasing agent
The new ownership of the World Trade Center in Norfolk selected Divaris Real Estate Inc. (DRE) as its management and leasing agent, the brokerage firm announced Tuesday. “We are both delighted and honored to have been appointed to handle the management and leasing of the World Trade Center building on behalf of the new ownership, […]
Norfolk townhome community sells for $77M
Crown Point Townhomes, a 480-unit apartment community in Norfolk, has sold for $77 million, Berkadia announced Monday. Bush Cos. sold the property, at 5371 Wyngate Drive, to a New Jersey-based buyer. The garden-style, multifamily property has two-, three- and four-bedroom floor plans and is located near Military Circle Mall. David Hudgins of Berkadia Newport News […]
New luxury apartments coming to downtown Norfolk
With $56.2 million in financing in place, Marathon Development Group’s Frank “Buddy” Gadams is ready to start work on “Gravity 400 Apartments,” in downtown Norfolk, Berkadia Commercial Mortgage LLC and Breeden Construction announced. Located at 400 Waterside Drive, the 273-unit high-rise apartment tower will be have studio, one-, two-, and three-bedroom floor plans, in a [&he[...]
Norfolk’s World Trade Center trades hands
The World Trade Center in Norfolk has sold for an undisclosed sum, Colliers announced Monday. On July 1, the property’s assessed value was nearly $51.27 million. Norfolk-based real estate investment and management firm Harbor Group International LLC, which acquired the property in 2008 for $54 million, has sold it to a private investor that Colliers […]
Alexandria warehouse sells for $9M
Washington, D.C.-based Lee & Associates has brokered the $9 million sale of a 28,000-square-foot warehouse at 619 S. Pickett St. in Alexandria to Terreno Realty Corp. The 1.27-acre site is adjacent to the Van Dorn Street Metro station. Josh Simon, president of Lee & Associates | Washington, D.C., represented the seller, DVPP LLC. The building […]
Commercial real estate leasing roundup
The following lease transactions took place in Virginia through Nov. 8: Central Virginia Virginia Insurance Services Inc. leased 1,900 square feet at 1 Park West Circle in Chesterfield County. Tucker Dowdy and Jamie Galanti of Commonwealth Commercial Realty represented the landlord. Kala Brand Music Co. leased 29,342 square feet at 11223 Leadbetter Road in Hanover […]
Lynchburg apartments sold for $4.1M
A four-property multifamily apartment portfolio including 55 apartments has been sold in Lynchburg for $4.1 million. The portfolio was sold to a local investment group, AC Capital LLC, which intends to pursue a value-addef strategy to upgrade the properties, all located in Lynchburg. The properties are at 200 Cleveland Ave. (Windsor Apartments), 3710 Fort Ave. […]
