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February activity signals busy spring for NoVa home sales
The pace and price of home sales in Northern Virginia likely signal a busy spring for the real estate sector, according to the Northern Virginia Association of Realtors (NVAR). In a news release, the association states the average February sale price was 100.2% of the listing price. The total dollar volume of the region in […]
W.M. Jordan Co. promotes two Richmond execs
Newport News-based construction firm W.M. Jordan Co. recently promoted two executives in its Richmond division. K. Brooks Ballance has assumed the role of vice president of the Richmond division; William “Bill” L. Lucas Jr. has been promoted to director of estimating for Richmond. Ballance joined the company as a project manager in 1999; he is […]
Fairfax County senior living community begins $56.5M renovation
Fairfax County senior living community The Virginian has begun a $56.5 million renovation, aimed to be completed in phases through June 2022. The renovated seven-story, 367,000-square-foot building will include four wings featuring 155 independent living apartments, 56 assisted living apartments and 38 memory care residences. The Virginian also includes long-term nursing and skilled nursing care. [...]
Chesapeake industrial property sells for $2.9M
2280 Steppingstone LLC has purchased two 12,000-square foot office/warehouse condo buildings from Chesapeake Land Co. LLC for $2.88 million in Chesapeake. The buildings are located at 2278-2280 Steppingstone Square. Geoff Poston of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser. Subscribe to Virginia Business. Get our daily e-newsletter.
Virginia Beach medical office building sells for $2.7M
Virginia Beach-based Gwynn-Reed Enterprises LLC has purchased a 10,036-square-foot medical office building on 1.84 acres in Virginia Beach for $2.65 million. The property is located at 1817 Republic Road. Gwynn-Reed purchased the property from Virginia Beach-based Vitruvian Property Group LLC. S.L. Nusbaum Realty Co.’s Chris Zarpas and Chris Devine represented the seller. Subscribe to Virginia [[...]
Hampton industrial property sells for $1.7M
G & V LLC has purchased a 44,76-square-foot industrial building situated on 3.71 acres in Hampton for $1.74 million to open a manufacturing operation. The property is located at 315 E. Street. Clay Culbreth of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser; Robert L. Phillips, Jr., also with […]
Portsmouth apartment property sells for $1M
Portsmouth property management company Doud Realty Services Inc. has purchased the Edison Apartments in Portsmouth for $1 million as part of a 1031 tax-deferred exchange. The 16-unit multifamily property is located at 219-249 Edison Ave. Clark Simpson of Cushman & Wakefield | Thalhimer Capital Markets Group handled the sale negotiations on behalf of the seller, […]
Capital Square names chief technology officer
Henrico County-based real estate investment company Capital Square announced Tuesday that Jeffrey Blount has been named the company’s chief technology officer. Prior to joining Capital Square, Blount served as virtual chief information officer at Glen Allen-based office IT services and equipment supplier Cobb Technologies. “Jeff, who built Capital Square’s technology systems from the ground [...]
$8.5M parcel in Spotsylvania to be used for Veterans Affairs clinic
Nearly 50 acres of land along Route 1 and Interstate 95 in Spotsylvania County has sold for $8.5 million, Cushman & Wakefield | Thalhimer announced Wednesday. The 48.75-acre parcel will be used to develop one of the nation’s largest Veterans Affairs facilities, according to Cushman & Wakefield | Thalhimer. Carnegie Management and Development Corp. will […]
Fairfax County’s Richmond Highway area ripe for development during next decade
Between the development of Amazon.com Inc.’s $2.5 billion East Coast HQ2 headquarters in Arlington and Virginia Tech’s $1 billion Innovation Campus in Alexandria, Northern Virginia is ripe for commercial and residential development during the next decade. According to a market assessment study presented to Fairfax County’s Economic Advisory Commission, the Richmond Highway corridor (a 10-mil[...]
Virginia Rent Relief Program receiving extra $524M
Landlords and tenants have additional rental assistance on the way. On Tuesday, Gov. Ralph Northam announced that $524 million in federal funding will go toward the Virginia Rent Relief Program (RRP), funded through the Emergency Rental Assistance program. “RRP is based on a unique, collaborative partnership between tenants and landlords to ensure both remain whole […]
Christiansburg industrial building sells for $6.5M
The former Dish Network call center in Christiansburg sold for $6.5 million, Poe & Cronk Real Estate Group announced last week. The 101,500-square-foot industrial building sits on more than 19 acres in Falling Branch Corporate Park at 400 Technology Drive. Motion control manufacturer Moog Inc. purchased the property in order to expand its industrial components […]
