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Capital Square names new VP of HR
Henrico-based real estate investment company Capital Square announced on Monday that it has promoted Tangela Lambert to the position of vice president of human resources. Lambert joined Capital Square in 2016 as its human resources director. Lambert has more than 10 years of experience in human resources and employee relations. She earned a bachelor’s degree […]
Norfolk industrial building sells for $3.75M
A 66,000-square-foot industrial building in Norfolk has sold for $3.75 million. Virginia Beach-based Club Forrest Acquisitions LLC purchased the building, located at 4500 Progress Road, from Boston-based Wheeler Commercial Properties. The deal closed on April 15. The building is situated on a four-acre parcel and is currently occupied by Superior Distribution, a subsidiary of Texas-based […[...]
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 […]
Arlington’s Blackfin acquires Roanoke County apartments for $23.2M
Arlington-based Blackfin Real Estate Investors LLC purchased Villages at Garst Creek, a 504-unit apartment complex in Roanoke County, for $23.25 million. The deal closed on April 21. Built in 1974, the 33-building property is located at 4375 Garst Mill Road. The property was rehabbed in 2007 under the Section 42 Low-Income Housing Tax Credit program. […]
Virginia’s median home price jumps 9.8% over previous year
On April 20, Virginia Realtors reported that the median statewide home sales price for March was $335,000, up 9.8% from a year ago. Outlined in Virginia Realtors’ March 2021 Home Sales Report, the trade association reports that home prices have been rising quickly since last summer, with year-to-date home prices up in nearly every market […]
Fortnite video game CEO makes Va.’s largest land conservation gift
North Carolina billionaire and Epic Games Inc. CEO Tim Sweeney has donated 7,300 acres of privately-owned land in Halifax County to the state — the largest single private land conservation gift in Virginia history, Gov. Ralph Northam announced Friday. Cary, North Carolina-based Epic is the company behind the massively popular video game franchise Fortnite, which […]
Branch Civil appoints new executive VP
Brian J. Quinlan has been appointed to serves as executive vice president of Roanoke-based Branch Civil Inc., a wholly owned subsidiary of the Branch Group specializing in site development, civil construction and heavy highway infrastructure projects. In his new role, Quinlan will be responsible for Branch Civil’s overall financial and operational leadership, as well as […]
Virginia Beach office property sells for $1M
CR Assets LLC has purchased a 5,040-square-foot office building in Virginia Beach for $1 million, Cushman & Wakefield | Thalhimer announced on Monday. Located at 4598 Broad St., the building will serve as the future corporate headquarters of Canzell Realty. It was sold by Broad Street Associates. The sale closed on April 8. Rob Wright […]
Former Roanoke Boy Scouts building sells for $1.2M
The former Boy Scouts of America building in Roanoke has sold for $1.2 million. Located at 2131 Valley View Boulevard, the 11,185-square-foot building was purchased by 1501 WW LLC from Blue Ridge Mountains Council Inc. The sale closed on March 3. Matt Huff and Zack May of Poe & Cronk facilitated the sale on behalf […]
Former Roanoke Johnson & Johnson property sells for $6.26M
The former Johnson & Johnson Spectacle Lens Group development on more than 30 acres in Roanoke has sold for $6.26 million. Located at 2797 Frontage Road, the property was purchased by Briar Oaks Investments VII LLC from Delta Dental of Virginia. The sale, which included a 146,852-square-foot medical grade manufacturing, office and warehouse facility that’s […]
$60M Hanover industrial development to begin construction in May
A $60 million, five-building industrial development is set to begin construction next month in Hanover County. Northlake II will include approximately 655,000 square feet of Class A industrial space. Construction on the first three buildings will commence in May, with an anticipated completion of spring 2022. The project is being developed by Maryland-based Matan Cos.; […]
NoVa housing market remains hot
Northern Virginia is continuing to see high levels of housing activity, a trend also taking place around the state and around the country. In an April 13 news release, the Northern Virginia Association of Realtors (NVAR) states that March saw a 54% month-over-month increase in new contract activity in the region, with 2,781 new pending […]
