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Ore. vacation rental company buys two Va. Beach businesses
Portland, Oregon-based vacation rental management company Vacasa announced Monday it had acquired two Virginia Beach companies: Sandbridge Realty and Beach Pros Realty. Vacasa did not disclose financial details of the transactions. The acquisitions mark Vacasa’s entry into Virginia. “Virginia Beach is a highly sought-after East Coast vacation spot. …The homes managed by Sandbridge Realty[...]
Breeden Co. names new president and CEO
More than 60 years after Ramon W. Breeden Jr. founded his Virginia Beach-based real estate development company, The Breeden Co. has new leadership. Chief Operating Officer Timothy Faulkner has been promoted as the company’s next president and CEO, after more than 20 years with the Virginia Beach-based company, and Breeden, who founded the company in […]
Va. Beach vacation company acquired by Calif. company
Mill Valley, California-based Vacatia Inc. has acquired Virginia Beach-based hospitality and vacation ownership company VSA Resorts, the timeshare owner and property management services provider announced Jan. 3. Financial details of the transaction were not disclosed. VSA owns three Virginia Beach properties: Ocean Key Resort, Atrium Resort and Ocean Sands Resort. The company also manages wholly-[...]
Youngkin announces transportation secretary
Gov.-elect Glenn Youngkin announced Friday W. Sheppard “Shep” Miller III, former chairman of Virginia Beach-based defense contractor KITCO Fiber Optics, as his state secretary of transportation. “Shep will be an invaluable leader as secretary of transportation as we fulfill our promises to all Virginians to invest in roads, highways and transportation infrastructure in every corner […[...]
Franklin Johnston Group plans Va. Beach apartments
The Franklin Johnston Group, based in Virginia Beach, has purchased a 37,500-square-foot industrial building in Virginia Beach with plans to redevelop it into apartments. The building, which sits on 9.44 acres at 925 S. Military Highway, was sold by Wildwood Park LLC for $4.75 million. Robert M. Thornton of Cushman & Wakefield | Thalhimer represented […]
Va. Beach office building sells for $4.25M
A Virginia Beach office building has sold for $4.25 million to Sharanya Ventures LLC, Cushman & Wakefield | Thalhimer announced Monday. Located at 3704 Pacific Ave., at the Oceanfront, the 11,967-square-foot building, which is 100% leased, was sold by York Street Suites Inc. The three-story building was built in 2003 and sits on about half […]
Virginia Beach, Manassas apartment complexes sell for $77.6M
An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, a pool, 24-hour fitness center, playground and clubhouse. Bonaventure [...]
Dominion orders 176 turbines from Siemens Gamesa
Dominion Energy Inc. has ordered 176 offshore wind turbines from Siemens Gamesa Renewable Energy S.A. for its 2.6-gigawatt, $9.8 billion Coastal Virginia Offshore Wind project, the utility announced Monday. The Richmond-based Fortune 500 utility declined to release financial details of the contract. The SG 14-222 DD turbines — at more than 800 feet tall, the […]
Investment group acquires self-storage complex in Va. Beach
Norfolk-based Cohen Investment Group, a commercial real estate investment company, has acquired Castleton Commerce Center, a 390,380-square-foot self-storage complex in Virginia Beach, from Prime Storage. The complex, at 2424 Castleton Commerce Way, is one of 11 storage properties Cohen Investment Group acquired through five acquisitions this year, according to Eastern Union, which secured $58.15 [...]
DroneUp inks deal with Walmart, acquires AirMap
Virginia Beach-based DroneUp LLC is making moves at the end of the year, with a new partnership with Walmart Inc. and the acquisition of Santa Monica, California-based AirMap Inc., a company specializing in air traffic management software for drones. DroneUp and Walmart will have the first multisite commercial drone delivery operations, or hubs, in northwest […]
Henrico engineering firm acquires second Hampton Roads firm
Henrico County-based regional engineering firm Koontz Bryant Johnson Williams Inc. (KBJW) purchased Virginia Beach-based civil engineering firm Blakeway Corp., it announced Tuesday. Financial details of the transaction were not disclosed. The Blakeway acquisition is the firm’s second in six months, following its June purchase of Chesapeake-based Horton & Dodd PC. “Blakeway is a natural[...]
2021 Virginia Business Person of the Year: Bruce Thompson
Standing on a hill overlooking the Atlantic Ocean, the Cavalier Hotel is a callback to a time when Virginia Beach was a sleepy little resort town inside Princess Anne County. Opened in 1927 as the largest brick building in the state, the Cavalier was a product of the Jazz Age. Over the years, the Y-shaped […]
