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Norfolk townhome community sells for $77M
Crown Point Townhomes, a 480-unit apartment community in Norfolk, has sold for $77 million, Berkadia announced Monday. Bush Cos. sold the property, at 5371 Wyngate Drive, to a New Jersey-based buyer. The garden-style, multifamily property has two-, three- and four-bedroom floor plans and is located near Military Circle Mall. David Hudgins of Berkadia Newport News […]
New luxury apartments coming to downtown Norfolk
With $56.2 million in financing in place, Marathon Development Group’s Frank “Buddy” Gadams is ready to start work on “Gravity 400 Apartments,” in downtown Norfolk, Berkadia Commercial Mortgage LLC and Breeden Construction announced. Located at 400 Waterside Drive, the 273-unit high-rise apartment tower will be have studio, one-, two-, and three-bedroom floor plans, in a [&he[...]
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 […]
Hampton Roads launches maritime workforce, economic initiatives
The Hampton Roads Maritime Collaborative for Growth and Innovation (HRMC) and Old Dominion University announced two maritime initiatives Thursday with the goal of strengthening economic development in the region. ODU President Brian Hemphill announced the establishment of the ODU Maritime Consortium, which will grow the university’s maritime-related degree and certificate programs. The conso[...]
CMA CGM Group to acquire 90% stake in Los Angeles terminal
French shipping company CMA CGM Group, whose U.S. headquarters are in Norfolk, announced Wednesday that it has signed an agreement to acquire a 90% stake in the Fenix Marine Services (FMS) terminal in Los Angeles, based on an enterprise value of $2.3 billion. CMA CGM is funding the $1.8 billion acquisition from its own funds. […]
Recent real estate deals around Virginia
Cushman & Wakefield | Thalhimer represented the seller, LNR Property, in the $2 million sale of part of 260 Boush Street, a multiuse commercial and residential building in downtown Norfolk. Tidewater Community College is the purchaser of the 37,065-square-foot commercial space on the first floor, plus 99 parking spaces on the second floor of the […]
Breeze Airways takes off in Norfolk
Breeze Airways has been flying out of Norfolk International Airport less than six months, but the startup is steadily attracting passengers eager to satisfy their pent-up wanderlust. Founded by aviation entrepreneur David Neeleman, the Salt Lake City-based airline began offering nonstop, low-cost flights out of 16 cities last spring. Service from Norfolk started June 10, […]
Norfolk cruise terminal begins work on $2.6M cruise ship gangway
Nauticus began construction on its $2.6 million cruise ship gangway in Norfolk this week, it announced Wednesday. The new boarding system will accommodate larger cruise ships, like the Carnival Magic, which is set to sail from Norfolk in 2022. Nauticus expects to have more than 180,000 cruise ship passengers in 2022. Swedish company Seawing PBB […]
Multifamily residences sell in Suffolk, Norfolk
An apartment complex in Norfolk and a townhouse community in Suffolk both sold this week, Colliers Virginia announced Friday. Beamons Mill Townhomes, at 224 Beamons Mill Trail in Suffolk, was sold by Outlier Realty Capital to The Apartment Gallery for $9.15 million. The 55-unit townhome community was built in the early 2000s. Each townhouse is […]
Diversity Leadership Series: Jack Ezzell and Angela Reddix
Brought to you by Virginia Business and Bank of America, join us every other month for the Diversity Leadership Series — virtual fireside chats with a diverse group of Virginia business leaders sharing their insights and thoughts on leadership, their career paths, and diversity and equity. In our second event, held Sept. 30 […]
ODU board names new rector, other officers
The Old Dominion University Board of Visitors has elected a new slate of officers, including former newspaper executive Bruce Bradley as rector, the university announced Monday. Bradley was the president of Landmark Publishing Group and executive vice president of Landmark Media Enterprises LLC before he retired, and he was previously president and publisher of The […]
2 Va. companies land spots on $151M Navy IT contract
Two Virginia companies have landed spots on a $151 million contract to provide full IT lifecycle support to the Naval Facilities Engineering Systems Command’s core facilities, management, construction management and installation management systems. Norfolk-based Chitra Productions LLC and Fairfax-based AttainX Inc. will both do work alongside three other companies in Atlanta, Kansas and Ohio[...]
