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Alabama company buys Little Creek Marketplace in Norfolk
Birmingham, Alabama-based property management company Shannon Waltchack’s retail real estate fund, SWNC I LLC, has purchased the Little Creek Marketplace shopping center in Norfolk, S.L. Nusbaum Realty Co. announced Tuesday. The sale price of the transaction was not disclosed. The 49,000-square-foot retail center was 97% leased at the time of the sale to tenants including […]
Norfolk office building sells for $2M
A 15,000-square-foot office building in Norfolk sold for $2 million, real estate and investment management company Colliers International announced Feb. 3. Constructed in 2007, the two-story building is located directly off Military Highway at 5665 Lowery Road. The Janaf location of The Therapy Network is currently a tenant and APM Spine & Sports Physicians and […]
“Port host communities” receive revitalization funds
The General Assembly allocated $1 million in grants to redevelop port-related properties in Virginia’s “port host communities,” including Newport News, Norfolk and Portsmouth, Gov. Ralph Northam announced Tuesday. The goal of the funding is to enable timely redevelopment of port structures for economic development and employment growth, according to the Department of Housing and Communit[...]
Casino operators go head-to-head in Bristol and Richmond
Casino operators are already maneuvering into position as they wait for state legislators to legalize gaming. The stakes are high, and in at least two regions multiple operators are competing to cash in. In Richmond, the Pamunkey Indian Tribe has announced a $350 million casino within city limits, while the Colonial Downs Group and parent […]
Vandeventer Black announces 2020 exec board
Norfolk-based law firm Vandeventer Black LLP elected a new executive board member and reelected three current board members, the firm announced Tuesday. Richard Ottinger, a partner at the firm, was newly elected to the board. He specializes in commercial litigation, transportation and maritime litigation and complex trusts and estates disputes. Ottinger has a bachelor’s degree […]
Norfolk medical device firm receives additional $2.5M from DARPA
The Defense Advanced Research Projects Agency (DARPA) has awarded $2.5 million in non-dilutive funding to Norfolk-based medical device manufacturer Embody Inc. for the second phase of development and clinical assessment for its proprietary Microbrace ACL technology for the repair of anterior cruciate ligament (ACL) injuries, the company announced Tuesday. Embody previously received $11.85 million [...]
Pamunkey tribe, city sign Norfolk casino agreements
The city of Norfolk and the Pamunkey Indian Tribe announced Monday that the tribe’s proposed $700 million casino along the Elizabeth River is moving closer to reality. According to a tribe press release Monday, the Pamunkey and the city have signed two agreements: an option to purchase 13.4 acres of undeveloped city property adjacent to […]
Norfolk office building sells for $4.1M
Norfolk-based Azalea 888 LLC purchased a two-story office building in Norfolk Industrial Park for $4.1 million, Cushman & Wakefield | Thalhimer announced Wednesday. Azalea 888 purchased the property at 1151 Azalea Garden Rd. from Roseville, Calif.-based Asset Preservation Inc. in a deal that closed on Jan. 7. The 54,986-square-foot Class B office building sits on […]
