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CGI Building in Fairfax sells for $55.3M
The CGI Building in Fairfax sold for $55.3 million on Oct. 5. Located at 12601 Fair Lakes Circle, the 10-story office building is 259,511 square feet and occupies 8.36 acres. It is 88% leased to four tenants, primarily government contractors, and anchored by CGI Federal Inc., part of CGI Inc. The property was recently renovated […]
Apartment buildings in Petersburg sell for $9.4M
The High Street Lofts in Petersburg sold for $9.4 million, Colliers | Virginia announced Wednesday. Located at 420, 422 and 526 High St., the lofts have an estimated 75,650 square feet of rentable space, and the 69 units are all occupied. Originally constructed as the Seward Luggage and Trunk Co.’s factory, the properties were redeveloped: […]
Cushman & Wakefield acquires Thalhimer’s S.C. operations
Chicago-based real estate firm Cushman & Wakefield announced last week that it had acquired the South Carolina operations of its alliance member, Glen Allen-based Morton G. Thalhimer Inc. The acquisition includes three offices located in Charleston, Greenville and Columbia. Financial details of the transaction were not disclosed. “We are thrilled to have Thalhimer’s South Carolina [&he[...]
The Branch Group moving into former Roanoke Kroger division HQ
Construction company The Branch Group Inc. is relocating its corporate headquarters to a larger building within Roanoke, the company announced Monday. The company sold its current headquarters for $2.9 million in September. It has purchased the former Kroger Co. mid-Atlantic division’s headquarters, a 58,000-square-foot building on Peters Creek Road for $3.125 million, to expand and [&hellip[...]
Henrico realty co. gains majority ownership of Ga. management company
Henrico County-based property development company McCann Realty Partners LLC now has a controlling interest in Georgia-based property management company Pegasus Residential LLC, the company announced last week. Financial details of the transaction were not disclosed. The two companies have been partners since Pegasus’ founding in 2009, McCann Realty Partners President and Managing Principal [...]
Middleburg Communities names chief economist
Vienna-based real estate company Middleburg Communities has named Brad Case as chief economist and director of research, it announced Thursday. Case will provide analysis for buying, selling, developing and market focus tactical decisions. “Brad Case is one of the most respected economists in commercial real estate, and we are very excited to have him join […]
Five-building industrial portfolio sells for $9M
A five-building industrial portfolio with buildings in Harrisonburg, Chesterfield County, Newport News, Virginia Beach and Durham, North Carolina, sold for just over $9 million Thursday, Glen Allen-based commercial real estate firm Commonwealth Commercial Partners LLC (CCP) announced. ESAP LLC sold the portfolio to Drakadia Holdings LLC, a business entity registered to an eastern Henrico County [&[...]
NoVa office space market improves after pandemic disruption
The Northern Virginia office real estate market showed improvement in leasing activity and occupancy loss in the third quarter, following four quarters of disrupted activity, according to a report released by commercial real estate services and investment firm CBRE Group Inc. this week. Gross leasing activity held steady from the second quarter, ending the third […]
Home sales, price growth to slow in 2022 after rapid 2021 rises
Virginia home sales in 2022 will be down by about a tenth of a percent compared to 2021 sales, according to a forecast report released Friday by Virginia Realtors. In 2021, the report projects a total of about 148,600 home sales in Virginia, up 6.2% from 2020. “While home sales activity in 2021 will surpass […]
Dominion Energy to sell downtown Richmond high rise
Dominion Energy is selling its 20-story high rise building in downtown Richmond’s Financial District as the company looks toward a future that includes a hybrid workforce. Mike Frederick, the company’s senior vice president-administrative services, told employees Thursday in a memo that Dominion’s Eighth and Main tower, at 705 E. Main St. will be sold. Real […]
