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Richmond office building sells for $29.5M
An office building in downtown Richmond has sold for $29.5 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Friday. The 140,573-square-foot Edgeworth Building is located at 2100 East Cary Street and was once a tobacco factory. It is 95% leased to Hirschler, RK&K, Ernst & Young and HKS Architects. Originally built in 1925, […]
$8.5M parcel in Spotsylvania to be used for Veterans Affairs clinic
Nearly 50 acres of land along Route 1 and Interstate 95 in Spotsylvania County has sold for $8.5 million, Cushman & Wakefield | Thalhimer announced Wednesday. The 48.75-acre parcel will be used to develop one of the nation’s largest Veterans Affairs facilities, according to Cushman & Wakefield | Thalhimer. Carnegie Management and Development Corp. will […]
Commercial real estate lease roundup
Central Virginia National Delivery Systems Inc. renewed its 78,232-square-foot lease at 4840 Eubank Road in Richmond. Rob Dirom and John Carpin of Colliers International represented the landlord. Belvac Production Machinery Inc. renewed its lease of 71,576 square feet of industrial space at 25 Millrace Drive in Lynchburg. Norman Moon of Thalhimer, along with Cushman & […]
Fairfax County’s Richmond Highway area ripe for development during next decade
Between the development of Amazon.com Inc.’s $2.5 billion East Coast HQ2 headquarters in Arlington and Virginia Tech’s $1 billion Innovation Campus in Alexandria, Northern Virginia is ripe for commercial and residential development during the next decade. According to a market assessment study presented to Fairfax County‘s Economic Advisory Commission, the Richmond Highway corrid[...]
Short Pump Hilton enters receivership
The Hilton Richmond Hotel and Spa in Short Pump has entered receivership after its owner, Shamin Hotels, fell behind on loan payments, according to documents filed in Henrico County Circuit Court. In an order dated Jan. 21, Fairfax-based based Crescent Hotel Management Services LLC was named special receiver for the Short Pump Hilton, which was […]
The Breeden Co. names multifamily, CRE director
Virginia Beach-based real estate developer The Breeden Co. announced Wednesday that Bonnie Moore has been promoted to director of operations for the company’s multifamily and commercial real estate divisions. Moore has been The Breeden Co.’s director of multifamily operations for more than 20 years. In her new role, she will oversee the departments’ operations, property […[...]
Virginia Rent Relief Program receiving extra $524M
Landlords and tenants have additional rental assistance on the way. On Tuesday, Gov. Ralph Northam announced that $524 million in federal funding will go toward the Virginia Rent Relief Program (RRP), funded through the Emergency Rental Assistance program. “RRP is based on a unique, collaborative partnership between tenants and landlords to ensure both remain whole […]
Richmond City Council to consider $325M VCU Health tower
Richmond City Council will consider the $325 million sale and redevelopment of the city’s Public Safety Building into a VCU Health medical office tower. The project is proposed by Capital City Partners LLC, a joint venture from two developers who were involved in the failed Navy Hill project. Mayor Levar Stoney announced Monday that his […]
Christiansburg industrial building sells for $6.5M
The former Dish Network call center in Christiansburg sold for $6.5 million, Poe & Cronk Real Estate Group announced last week. The 101,500-square-foot industrial building sits on more than 19 acres in Falling Branch Corporate Park at 400 Technology Drive. Motion control manufacturer Moog Inc. purchased the property in order to expand its industrial components […]
York County shopping center sells for $2.9M
A shopping center in York County sold for $2.9 million, Cushman & Wakefield | Thalhimer announced Tuesday. The 39,000-square-foot Town & Country Shopping Center is located at 465-469 and 473 Merrimac Trail and is fully leased to tenants including NAPA Auto, Family Dollar, Davita Dialysis, Eastside Church, The Wash House and Sherwin Williams Paints. Town […]
Co-working space opens in National Landing
A 39,000-square-foot Hana co-working space in National Landing — the stomping grounds of Amazon.com Inc.’s new East Coast headquarters, HQ2 — has opened, the CBRE Group subsidiary announced Friday. The building, located at 2451 Crystal Drive in Arlington, includes private office suites, conference and event space and co-working space. This is Hana’s third co-working and […]
Four industrial buildings in Spotsylvania County sell for $14M
Four industrial buildings in Spotsylvania County sold for $14 million and will be redeveloped into an apartment complex, Cushman & Wakefield | Thalhimer announced Monday. The 495,830-square-foot, four-building Fredericksburg Industrial Park is located at 11800-11900 Main Street and 10857 Houser Drive in Spotsylvania County. Monument Cos. plans to redevelop the property into 525 one- and [&hell[...]
