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Chesapeake industrial building sells for $10.2M
A 152,180-square-foot industrial property in Chesapeake has sold for $10.275 million, S.L. Nusbaum Realty Co. announced in July. Chesapeake Dexter St West LLC purchased the property, located at 101 Dexter St. West in Chesapeake, from On Trading Corp. The building is on 13.89 acres and was fully leased at the time of the sale. It […]
ODU and IALR to launch manufacturing engineering tech degree
Old Dominion University will launch Virginia’s first four-year degree in manufacturing engineering technology (MfgET) at its Norfolk campus and a satellite campus at The Institute for Advanced Learning and Research (IALR) in Danville, the university announced Thursday. “This partnership reinforces Old Dominion University’s commitment to workforce development and leadership in the maritime in[...]
Recent commercial real estate sales in Virginia
Central Virginia An 8,540-square-foot mixed-use building in Lynchburg sold for $1.3 million. Built in 2018, the property, located at 1285 Enterprise Drive, includes three two-bedroom, two-bathroom apartments and two first-floor commercial suites, both under long-term leases. It was 100% occupied at the time of sale. Virginia Beach-based Anjuna LLC bought the property from FOF LLC. […]
Commercial real estate leases across Va.
The following leases were completed between Dec. 14, 2021, and Jan. 10: Central Virginia Matt Gentry Agency renewed 1,151 square feet at 8401 Patterson Ave. in Richmond. Catherine Walker of Colliers Virginia handled the transaction on behalf of the landlord. American Pest Management leased 5,007 square feet at 1750 E Parham Road in Richmond. Joe […]
Northam proposes $150M for site readiness
When Mazda Toyota was looking to build a plant that would have brought 4,000 jobs and 1.6 billion in investment, Virginia was ruled out. Why? Because Virginia didn’t have a competitive project-ready site available. Huntsville, Alabama, landed the deal instead. Since 2016, Virginia has lost out on 42,000 direct jobs and over $75 billion in capital […]
Winchester industrial property sells for $12.2M
A 244,500-square-foot industrial property in Winchester sold for $12.2 million, Marcus & Milichap announced Wednesday. The property is located at 310 Tyson Drive and was sold by Harrisonburg-based InterChange Group Inc. to Washington, D.C.-based Ritz Banc Group. Christopher C. Dale, Robert Filley and Randall Heilig, with Marcus & Milichap’s Washington, D.C., office, worked for the [&[...]
Mich. company acquires Roanoke steel distributor
Jackson, Michigan-based Alro Steel Corp. announced Monday it had acquired Roanoke-based Ace Steel Inc. Financial terms of the transaction were not disclosed. Founded in 1992, Ace Steel is a steel distributor serving the Roanoke Valley. The transaction will help Alro provide improved service for cut-to-size metals and plastics, while Ace Steel’s customers will benefit from […]
Shenandoah Valley races to develop industrial sites
A flurry of recent industrial investment in the Shenandoah Valley has regional economic development officials eager to make new sites shovel-ready as companies put a premium on locations that will enable them to stand up operations as fast as possible. Fast-casual restaurant chain Cava’s September announcement that it will build a $30 million, 57,000-square-foot processing […]
Industrial space gets boost in Amherst
Amherst County has received a $3 million federal grant to attract manufacturing firms with a new 45,000-square-foot, $4.6 million industrial facility. In September, the U.S. Department of Commerce announced that it awarded a $3 million grant to the county Economic Development Authority to build a new county-owned facility, with hopes that the project would create […]
Recent commercial real estate transactions around Virginia
S.L. Nusbaum Realty announced that HM Management LLC has purchased a 35,355-square-foot former assisted living facility on 0.45 acres located at 501 N. Allen Ave. in Richmond from Care GSL Richmond PropCo LP for $3.5 million. Nathan Shor handled the transaction. Cushman & Wakefield | Thalhimer announced the sale of 3750 Progress Road in Norfolk. […]
Developer plans 800K-square-foot industrial building in Suffolk
A Kansas-based industrial developer has purchased 72 acres in Suffolk for $4.1 million, with plans to construct an 813,721-square-foot logistics center by September 2022. Cushman & Wakefield | Thalhimer announced the sale Friday, in which Geoff Poston and Ellis Colthorpe handled negotiations on behalf of the seller, Equus Capital Partners Ltd. The 72.52-acre plot at […]
30 acres in Chesapeake sells for $3.65 million
Approximately 27.48 acres of industrial-zoned land along the Southern Branch Elizabeth River in Chesapeake sold for $3.65 million, Cushman & Wakefield | Thalhimer announced Wednesday. Agrium U.S. Inc. sold the land, located at 700 Weaver Lane, to Waterway Properties LLC. William C. Throne, a certified commercial investment member, and Robert L. Phillips Jr., both members […]
