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Four Prince William shopping centers sell for $52.8M
A portfolio of four regional shopping centers in Prince William County’s Dale City area has sold for $52.8 million, the joint venture of buyers announced Monday. Located less than 3 miles apart along Dale Boulevard, the 1970s-era shopping centers — Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza — total 470,000 square feet on 70 […]
Low inventory, high interest rates strap Va. housing market
Homebuyers in Virginia are continuing to feel the strain of low inventory and high interest rates. The number of active listings on the market is shrinking, and fewer new listings are coming on the market. Despite a brief uptick in inventory at the beginning the year, about 67% of the state’s counties and cities had […]
Henrico shopping center sells for $10.1M
A neighborhood retail center in Henrico County sold for $10.1 million on Aug. 17. Named The Shops at Wellesley, the 42,318-square-foot shopping center is located at 3416-3470 Lauderdale Drive. The center was built in 1992 and occupies a 6.99-acre lot, according to county property records. It was 94% leased at the time of sale with […]
AREP, partners acquire Ashburn townhome community
CityHouse Ashburn Station, a 200-unit luxury townhome community in Loudoun County, has sold for $120 million. New York-based Rithm Capital, McLean-based American Real Estate Partners and New Jersey-based GreenBarn Investment Group closed the purchase from Dream Finders Homes on Monday. AREP and GreenBarn are co-general partners for the project. Rithm is providing equity capital, in […]
The Breeden Co. adds new multifamily regional director
The Breeden Co. has named Sydney Balmer to its multifamily property management’s regional director team. The Virginia Beach-based real estate developer announced Balmer’s hire Aug. 8. She will oversee a portfolio of multifamily assets in the South Hampton Roads market. “Sydney brings her passion for problem solving and elevated resident experiences to the multifamily operations [&hel[...]
Henrico County, Markel|Eagle acquire land for GreenCity
Henrico County and an affiliate of Markel|Eagle Partners LLC came to an agreement Thursday to purchase the 110-acre Scott Farm property, which will be a key part of the $2.3 billion mixed-use GreenCity development, for $35.1 million. First proposed in December 2020, GreenCity plans to include what is billed as the nation’s greenest arena, with […]
$27.5M apartment community in Chesterfield now complete
Construction of a $27.5 million luxury apartment community in Chesterfield County is now complete. The Station at Chester includes 65 one-bedroom, 126 two-bedroom and 10 three-bedroom apartments with floor plans ranging from 650 square feet to 1,300 square feet. In addition to the community’s five apartment buildings, the complex includes a 4,000-square-foot clubhouse, a pool […]
$98M Richmond apartment building to break ground in Q3
A $98 million luxury apartment building, The Ace Apartments, will be the newest addition to Richmond’s Scott’s Addition neighborhood. The 1.7-acre project will have 295 luxury studio, one- and two-bedroom apartments that will average 753 square feet per unit, and 85% of the units will have balconies. The development’s plans also call for a 7,500-square-foot […]
Global coworking franchise coming to Chesapeake
Venture X, a global coworking office space franchise, is entering the Hampton Roads market, with its first location coming to Summit Pointe in Chesapeake, Cushman & Wakefield | Thalhimer announced Tuesday. HMP Properties LLC, a Venture X franchisee, has leased 18,543 square feet of space in the 555 Belaire office tower, which is part of […]
$77.8M apartments break ground outside C-ville
Charlottesville-based GW Real Estate Partners, a vertically integrated multifamily construction and development firm, and Austin, Texas-based Virtus Real Estate Capital, have broken ground on a new, $77.8 million apartment community at the entrance to North Pointe, a 224-acre mixed-use community near Rivanna Station in Albemarle County. The Ridge at North Pointe is located across from […]
CFA Institute sells Charlottesville HQ for $21.9M
The Charlottesville headquarters of CFA Institute sold for $21.9 million, Cushman & Wakefield | Thalhimer announced Tuesday. The 150,000-square-foot office building, at 915 E. High St., is the former Martha Jefferson Hospital, which opened in 1904, according to Cvillepedia. CFA Institute, a nonprofit association of investment professionals, will lease back 47,000 square feet for its […]
Tight housing markets continue in NoVa, Hampton Roads
Home sales in Northern Virginia in June were up 3.6% from the previous month, but still down 16% compared with the same period a year ago, according to a report from the Northern Virginia Association of Realtors released Wednesday. “Many factors” are pointing to the region’s market normalizing when comparing it to five-year trends, the report […]
