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Norfolk buys former Military Circle hotel for $2.4M
Less than a week after Norfolk announced its purchase of the Military Circle Shopping Mall for $11 million, the Norfolk Economic Development Authority (EDA) said Thursday it has also approved a plan for the city to purchase the former DoubleTree Hotel at Military Circle for $2.4 million. The hotel property was listed for sale for […]
Nearly 1M U.S. construction jobs lost in April
The United States construction industry lost 975,000 jobs in April, according to an Associated Builders and Contractors (ABC) analysis of data released by the U.S. Bureau of Labor Statistics. It’s the largest recorded decrease in construction jobs since 1939 — when the government first started tracking employment, according to ABC. “The hope had been that […]
Land near Richmond stadium sells for $1.95M
A vacant plot of land in Richmond across from The Diamond baseball stadium has sold for $1.95 million, Colliers International announced Thursday. Located at 3110 N. Arthur Ashe Blvd., the property is 1.19 acres. The property is located directly across from the planned Boulevard redevelopment project, known as The Boulevard RVA. The redevelopment project launched […]
Va. Beach apartment complex sells for $6.575M
The Falcon Point apartment complex in Virginia Beach has sold for $6.575 million, Colliers International announced Thursday. Seminole Trail Properties purchased the property from The Runnymede Corp. Located at 2105 Lake Smith Drive, Falcon Point includes 64 apartment units. It was constructed in 1971 and has received both exterior and interior renovations. The apartment complex […]
Norfolk buys Military Circle Shopping Mall for $11M
The Norfolk Economic Development Authority (EDA) announced Friday it approved a plan for the city to purchase the Military Circle Shopping Mall for $11 million to redevelop the mall and surrounding area for mixed-use development. “The Military Circle corridor is the crossroads of the Hampton Roads region,” Norfolk Mayor Kenneth Cooper Alexander said in a […]
Last remaining corner plot in Henrico County’s Short Pump sells for $5.85M
The last remaining corner plot of land in Henrico County’s Short Pump area has sold for $5.85 million, Cushman & Wakefield | Thalhimer’s Mark E. Douglas said. Located at 12120 W. Broad St., the 12.27 acre vacant, wooded lot is less than one mile from West Broad Marketplace, a shopping center with anchor tenants including […]
Norfolk real estate company promotes exec to regional VP
Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Wednesday that it has promoted Debbie Franco to regional vice president. Franco was most recently the regional property manager at the firm, covering the Northern Virginia region. She started her career in real estate at the firm in 2002 as a leasing agent and earned her […]
Industrial building sells for $2.5M in Richmond
An industrial building in Richmond sold for $2.5 million, Cushman & Wakefield | Thalhimer announced Monday. Located at 2400 Maury St. in Richmond’s Manchester area, the 19,156-square-foot building sits on more than 9 acres of land. The building was previously leased to Esf Trailer Systems LLC, which sold cargo and flatbed vehicles. Glen Allen-based commercial […]
Va. Beach real estate company names marketing director
Virginia Beach-based real estate company Rose & Womble Realty Co. and its property management arm, Rose & Womble Chandler Property Management announced Monday that it has hired Jennifer L. Mueller as its director of marketing. Mueller was most recently the national account manager for Norfolk-based digital marketing company Trader Interactive. She was also previously the […]
Suffolk office building sells for $8.5M
An office building in Suffolk sold for $8.5 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. Located at 7025 Harbour View Blvd. in Bridgeway Commerce Park, Bridgeway Technology Center I is a 123,407-square-foot, single-story office building sitting on 16.03 acres. The office building was 69% leased at the time of the sale […]
Pandemic housing market has fewer sellers, higher sales prices
Virginia Business virtually sat down with Larry “Boomer” Foster, president of Long & Foster Real Estate, to get the current pulse on the real estate market in Virginia. The most recent data published was reflective of March real estate transactions in Northern Virginia, but Foster shared insight from the most up-to-date real estate data available […]
American Family Fitness building in Henrico sells for $4.1M
An outparcel building at Virginia Center Commons Mall, which is leased to American Family Fitness, sold for $4.1 million, Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Thursday. The 86,627-square-foot building is located at 10101 Brook Road in Glen Allen and has been leased to American Family Fitness for more than seven years. The […]
