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Military Circle redevelopment could include arena
Four groups — including mid-Atlantic developers, entertainment and sports figures, concert promoters and arena operators — are competing for a chance to redevelop Norfolk’s aging Military Circle Mall into a mixed-use community. Overhauling the struggling mall has long been on the city’s to-do list, but the project was jump-started last year when the Norfolk Economic […]
Developments perk up Danville
Danville City Council members faced a dilemma three years ago. Council members could pay up to $185,000 to demolish a crumbling stucco apartment building on Jefferson Avenue, or they could spend $75,000 in matching funds to augment a $125,000 grant from the Virginia Housing Development Authority to stabilize the property, which was declared unfit for […]
Commercial real estate leasing roundup
Central Virginia Environmental Quality Resources LLC renewed its lease of 32,670 square feet of industrial space at 11131 Progress Road in Ashland. Gregg W. Beck of Thalhimer handled the lease negotiations on behalf of the landlord. Surplus Freight has leased 16,361 square feet of retail space at Park South Shopping Center, 798 Southpark Blvd. in […]
$68M Mosaic apartment tower coming to Chesapeake’s Summit Pointe
Construction will begin April 1 on Mosaic, a $68 million, six-floor mixed-use tower coming to Chesapeake’s Summit Pointe development, according to a March 25 announcement from Summit Pointe Realty LLC. Mosaic is a continuation of the second phase of the Summit Pointe mixed-use development, which is located on 69 acres in Chesapeake’s Central Business District. […]
Construction begins on residential towers in National Landing
Developer JBG Smith announced Friday that it has begun construction on two residential towers at 1900 Crystal Drive in National Landing. The development will include 808 apartments and approximately 40,000 square feet of street-level retail across from two new mixed-use buildings. The 27-story southern tower will include 471 apartments; the 26-story northern tower will include […]
Chesapeake office building sells for $1.25M
PNSC LLC purchased a 7,500-square-foot office building at 501 Baylor Court in Chesapeake for $1.25 million, Cushman & Wakefield | Thalhimer announce on March 22. PNSC purchased the building from BCGMR LLC as an investment. The purchaser plans to renovate a portion of the building and locate Progressive Neurology and Sleep Center to this location. […]
Capital Square buys Chesapeake apartment complex for $67.25M
Henrico County-based real estate investment company Capital Square has acquired Streets of Greenbrier apartments in Chesapeake for $67.25 million. Located at 929 Wintercress Way, the 280-unit multifamily community sits on 13.78 acres. Constructed in 2013, the community consists of nine residential buildings and includes studio, one-, two- and three-bedroom units ranging in size from 516 […]
Norfolk apartments sell for $1.96M
A Northern Virginia-based investment group has purchased the 30-unit Princess Court Apartments in Norfolk for $1.96 million, Cushman & Wakefield | Thalhimer announced on March 23. Located at 3724, 3800 and 3814 E. Princess Anne Road, the complex was purchased from Princess Court Apartments LLC. The name of the purchaser was undisclosed. Clark Simpson of […]
Blackfin and GMF buy three apartment complexes for $48M
On Monday, Arlington-based Blackfin Real Estate Investors LLC and New York-based GMF Capital LLC announced they had purchased three Low Income Housing Tax Credit (LIHTC) communities from Virginia Beach’s The Franklin Johnson Group for $48 million. The apartment complexes include: Oaks at Dunlop Farms, 101 Old Oak Lane, Colonial Heights, 23834; Crescent Place, 2804 Turnpike […]
Colliers International Virginia taps executive vice president
Richmond-based commercial real estate agency Colliers International Virginia LLC announced Thursday that Charles Wentworth has been promoted to executive vice president. Wentworth joined Colliers in 2012 to specialize in multifamily sales, where he represents private, high net-worth and institutional clients in the Central and western Virginia markets. Since joining the firm, Wentworth has complet[...]
Campbell County shopping center sells for $4.7M
A Campbell County shopping center sold for $4.7 million Monday, S.L. Nusbaum Realty Co. announced Tuesday. The Kent Mall LLC, a Pennsylvania-based real estate investment company, purchased Rustburg Marketplace, a 46,700-square-foot shopping center, from Rustburg Ventures LLC of Richmond. Anchored by Food Lion, the shopping center is 100% occupied and has nine local and national […]
Bon Secours plans to build emergency clinic in Chester
Bon Secours St. Francis Medical Center plans to build a freestanding emergency clinic in Chester on six acres the health care system recently acquired for $1.95 million. The facility will be built at the corner of Route 1 and Moore’s Lake Road. Bon Secours purchased the property from Americana Park LLC and Trollingwood Land LLC. […]
