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real estate

Two Hampton Roads car washes sell for $1.6M
Jul 30, 2021

Two Hampton Roads car washes sell for $1.6M

Two Solar Wash Inc. car wash locations in Hampton Roads sold for $1.6 million, S.L. Nusbaum Realty Co. announced Wednesday. Located at 910 W. Washington St., the Suffolk property has five self-service bays, seven vacuum bays and a fully automatic, soft touch station. The Franklin location, found at 1021 Armory Drive, has seven vacuum bays, […]

Chesterfield EDA eyes mixed-use project at Spring Rock Green
Jul 30, 2021

Chesterfield EDA eyes mixed-use project at Spring Rock Green

The Chesterfield County Economic Development Authority has proposed purchasing Spring Rock Green — a 42-acre property on the northwest corner of Midlothian Turnpike, near Chippenham Parkway — for $16 million to create a mixed-use development. The property is located between the Stonebridge Shopping Center and The Boulder’s Office Park. The first phase of the project […]

Yorktown’s Duke of York Hotel sells for $3M
Jul 23, 2021

Yorktown’s Duke of York Hotel sells for $3M

The Duke of York Hotel in Yorktown sold for $3 million, M.A. Bowry & Co. announced July 2. Built in 1965, the 57-room, 26,084-square-foot, limited-service hotel is located on the York River. It will remain open as the company renovates it. Crockett Enterprises LLC sold the hotel to a limited liability company connected to M.A. […]

James City County industrial building sells for $2.67M
Jul 23, 2021

James City County industrial building sells for $2.67M

The Design Masters building in James City County sold for $2.67 million, Cushman & Wakefield | Thalhimer announced Wednesday. Tetreault Holdings Inc. bought the 40,000 square-foot-building from Friendship Partner as an investment for their contracting business, The Drying Co./ThermalTec, according to the news release. The industrial building is located in Toano at 3005 John Deere […]

May 4, 2021

Seeking growth, GPM enters into agreement with Chicago real estate firm

Richmond-based GPM Investments LLC, the nation’s seventh-largest convenience store chain, announced Tuesday that it has entered into a one-year agreement with Chicago-based Oak Street Real Estate Capital, which is committing up to $1 billion to purchase and lease to GPM real estate parcels associated with GPM’s acquisitions of convenience store chains and fueling stations. A […]

Apr 29, 2021

Hampton Roads multifamily portfolio sells for undisclosed amount

In early April, New Jersey-based Brentwood Investment Group and Greencove Capital Group closed a deal to acquire a multifamily portfolio that includes 856-units for an undisclosed amount. The deal included five garden-style multifamily communities in Hampton and one property in Poquoson. Built between 1970 and 1985, the properties have an average unit size of 921 […]

Tangela Lambert has been promoted by Capital Square to the position of vice president of human resources.
Apr 26, 2021

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 […]

4500 Progress Road in Norfolk has sold for $3.75 million.
Apr 23, 2021

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 […[...]

Apr 23, 2021

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 […]

Roanoke’s Villages at Garst Creek has sold for $23 million.
Apr 23, 2021

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. […]

Home prices still increasing
Apr 23, 2021

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 […]

Falkland Farms property. Photo courtesy of the Virginia Department of Conservation and Recreation
Apr 23, 2021

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 […]

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