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To understand office vacancy rates in Northern Virginia, Art Greenberg, the Washington, D.C.-based vice chairman for tenant advisory firm Savills Inc., employs the turkey sandwich test. In short, he explains, today’s workers want an office building where they can walk a block or two and find a half-dozen places to get a turkey sandwich for […]
Amazing race
Virginia is reaping thousands of jobs and huge tax revenues as Amazon.com revamps its U.S. delivery network. The e-commerce giant is opening major distribution centers and sorting facilities across the commonwealth as part of its nationwide strategy to get goods to consumers faster and stay one step ahead of competitors like Walmart and Target that […]
DataBank to add leased data center to Ashburn campus
DataBank, a Texas provider of data center, cloud, and interconnection services, has signed a lease on a data center currently under construction on Red Rum Drive in Ashburn by GI Partners, the California investment firm announced Thursday. Two other data center buildings are already located on Red Rum Drive. One is owned by DataBank and […]
Five Guys moving HQ to Alexandria
Five Guys Enterprises LLC is moving its corporate headquarters from southern Fairfax County to Alexandria this month, a spokesperson confirmed Friday. The new main office for the family-owned hamburger chain will be in leased space at 1940 Duke St., starting July 17. Friday was the company’s last day at its Lorton headquarters at 10718 Richmond […]
Colliers to manage, lease City Center at Oyster Point
Colliers will be the leasing and management company for City Center at Oyster Point in Newport News, Florida-based real estate investment firm Murphy Property Group announced last week. Colliers will manage nearly 600,000 square feet across nine buildings. City Center, which is 52 acres, serves as sort of a central downtown area for Newport News […]
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 […]
Commercial real estate leasing roundup
The following lease transactions took place in Virginia through Nov. 8: Central Virginia Virginia Insurance Services Inc. leased 1,900 square feet at 1 Park West Circle in Chesterfield County. Tucker Dowdy and Jamie Galanti of Commonwealth Commercial Realty represented the landlord. Kala Brand Music Co. leased 29,342 square feet at 11223 Leadbetter Road in Hanover […]
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. […]
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 […]
Commercial real estate leasing roundup
Central Virginia – Weyerhaeuser Co. renewed its lease of 72,399 square feet of industrial space at Sarellen Road Warehouse, 4200-4222 Sarellen Road, in Henrico County. Evan Magrill and Scott Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord. – Belvac Production Machinery Inc. leased 40,000 square feet of industrial […]
Commercial real estate leasing roundup
Central Virginia Environmental Quality Resources LLC renewed its lease of 32,670 square feet of industrial space at 11131 Progress Road in Ashland. Gregg W. Beck of Thalhimer handled the lease negotiations on behalf of the landlord. Surplus Freight has leased 16,361 square feet of retail space at Park South Shopping Center, 798 Southpark Blvd. in […]
Richmond leasing company announces promotions
Richmond-based equipment financing company CSC Leasing Co. announced Monday that it has promoted three executives. Sam Corey has assumed additional leadership responsibilities as head of the company’s vendor programs. He will continue to lead the credit and investment business function. He has been with CSC Leasing since 2008. Will Forston, formerly CSC Leasing’s director of […]
