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Virginia Beach, Manassas apartment complexes sell for $77.6M
An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, a pool, 24-hour fitness center, playground and clubhouse. Bonaventure [...]
Amazon provides $21M to create real estate developers of color program
Amazon.com Inc. announced Wednesday a $21 million grant to create a professional training, mentorship and capital funding program for real estate developers of color focused on affordable housing. “With this accelerator program, we are laser focused on lifting up emerging real estate developers of color. We want to foster their professional growth through education and […]
11-building office portfolio in Henrico sells for $87M
An 11-building office portfolio in Henrico County sold for $87 million, according to Henrico County property records. A partnership between New York-based Jack Sitt Real Estate LLC and Dubai, United Arab Emirates-based Gulf Islamic Investments LLC bought the portfolio on Dec. 1. Thalhimer did not disclose the seller. The properties are owned by various limited […]
What will Amazon HQ2 look like? Arlington planners weigh in.
Arlington County Planning Division’s Site Plan Review Committee will review the layout and architectural design for PenPlace, the proposed second phase of Amazon.com Inc.’s East Coast headquarters, as well as the proposed public space, in its Monday night meeting. Meeting documents show the proposed layout of the Pentagon City site, which puts the would-be 354-feet […]
Cushman & Wakefield | Thalhimer name SVP, commercial property services
Amy Marsden has joined the Cushman & Wakefield | Thalhimer Richmond office as senior vice president of commercial property services, the real estate firm announced Wednesday. The firm’s Commercial Property Services sector manages more than 30 million square feet. Marsden was most recently a senior area director with The RMR Group, a role in which […]
Super-regional shopping center in Richmond sells for $18.25M
The Eastgate Town Center in Richmond sold for more than $18.25 million, Colliers Capital Markets announced Wednesday. Located at 4905-4995 Nine Mile Road, the 117,773-square-foot super-regional shopping center is shadow anchored by a Walmart Supercenter and was 97% occupied at the time of sale. Its tenants include Conn’s Inc., Planet Fitness, Hibbett Sports, Virginia ABC, […]
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 […]
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’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 […]
Richmond apartment building sells for $27M
A 157-unit apartment building in Richmond sold for $27.25 million, Minneapolis, Minnesota-based real estate broker NorthMarq announced Wednesday. Located at 308 N. Nansemond St., the three-story property known as The Gallery Midtown was built in 1938. The previous seller, Richmond-based Spy Rock Real Estate Group, renovated the building. Provo, Utah-based developer Peak Capital Partners bought [&h[...]
Petersburg retail centers sell for $10.25M
Two neighborhood retail centers in Petersburg sold for $10.25 million on Oct. 15. The two properties total 192,510 square feet and occupy 24.9 acres. Located at 3330 S. Crater Road, South Crater Square is 82.7% leased and anchored by Rose’s, with Walmart Supercenter as a shadow anchor. Pinehill Plaza, located across the street at 3333 […]
Breeden Construction to build $38.9M apartment complex additions
Virginia Beach-based real estate development firm The Breeden Co.’s general contracting company announced Thursday that it has been contracted to develop the $38.9 million second phase of Center West Apartments in Midlothian, not far from the Westfield Commons Shopping Center. Charlottesville-based Castle Development Partners owns the multifamily project, which was referred to as Watkins Cen[...]
