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Virginia Beach

Va. Beach apartment complex sells for $98.5M
Nov 18, 2021

Va. Beach apartment complex sells for $98.5M

Coastline Apartments, a 600-unit apartment complex in Virginia Beach near Virginia Wesleyan University, has been sold for $98.5 million, Northmarq announced Wednesday. Northmarq represented the seller, Arlington-based Blackfin Real Estate Investors, in a joint venture with GMF Capital. The complex is on 36 acres at 631 Lake Edward Drive. It has a swimming pool, playgrounds, […]

Va. Beach’s Pembroke Mall to add apartments, senior living and hotel
Nov 16, 2021

Va. Beach’s Pembroke Mall to add apartments, senior living and hotel

Pembroke Mall in Virginia Beach is getting a $200 million makeover. The aging mall’s developers, Pembroke Square Associates, announced plans Monday for a series of updates to the 54-acre mall near the city’s Town Center area. “The mall industry is changing,” said Ramsay Smith, president of Pembroke Realty Group, asset manager for Pembroke Mall. “We […]

Va. Beach flex buildings sell for $7.3M
Nov 7, 2021

Va. Beach flex buildings sell for $7.3M

Two multitenant flex buildings in Virginia Beach sold for $7.3 million, Colliers announced Friday. Parkway 3 and 4, at 2679 International Parkway in Lynnhaven, were built in 1984 on a 4.39-acre site and have a total of 64,109 square feet of space. Pat Mugler, Ricky Anderson and Michael Ettel with Colliers Virginia represented the seller […]

Nov 4, 2021

Virginia Beach-based Groundworks acquires Philadelphia co.

Virginia Beach-based Groundworks, a foundation and water management solutions company, announced Wednesday its 21st acquisition since its founding five years ago. Financial terms were not disclosed. Groundworks has acquired Philadelphia-based BQ Basements and Concrete, which expands the company’s Northeast presence into greater Philadelphia, New Jersey and northern Delaware. It‘s the t[...]

Finance | Insurance
Oct 21, 2021

Langley Federal Credit Union to merge with Va. Beach Schools Credit Union

Newport News-based Langley Federal Credit Union and the Virginia Beach Schools Federal Credit Union have received regulatory approval for a Nov. 1 merger that will create a $4.1 billion institution, the credit unions announced Thursday. Langley CEO Tom Ryan will serve as CEO of the combined entity, which is expected to be fully integrated by […]

Manufacturing
Oct 8, 2021

Stihl Inc.’s U.S. president, sales VP exit company

The president of Stihl Inc.’s Virginia Beach-based U.S. operations, Bjoern Fischer, is leaving the chainsaw and power equipment manufacturer by mutual agreement Friday, according to an internal company memo obtained by Virginia Business. Also departing the German outdoor power equipment manufacturer is its vice president of U.S. sales and marketing, Nick Jiannas. The letter sent […]

Five-building industrial portfolio sells for $9M
Oct 1, 2021

Five-building industrial portfolio sells for $9M

A five-building industrial portfolio with buildings in Harrisonburg, Chesterfield County, Newport News, Virginia Beach and Durham, North Carolina, sold for just over $9 million Thursday, Glen Allen-based commercial real estate firm Commonwealth Commercial Partners LLC (CCP) announced. ESAP LLC sold the portfolio to Drakadia Holdings LLC, a business entity registered to an eastern Henrico County [&[...]

Education
Oct 1, 2021

Pat Robertson steps down as 700 Club host, effective immediately

Pat Robertson, founder of the Virginia Beach-based Christian Broadcasting Network, announced Friday that it was his last day as daily host of “The 700 Club,” on the show’s 60th anniversary broadcast. His son, Gordon P. Robertson, will take over as full-time host, the 91-year-old TV evangelist said. Robertson, one of the most famous television preachers […]

The Lawson Cos. hires first talent and development manager
Sep 21, 2021

The Lawson Cos. hires first talent and development manager

Virginia Beach-based property management firm The Lawson Cos. hired Brandi Hall as its first talent and development manager, it announced Tuesday. Hall is responsible for hiring and training Lawson employees as well as retaining them. She has 16 years of experience in human resource roles and was most recently the human resources generalist for Norfolk-based […]

Industrial building in Va. Beach sells for $6.15M
Sep 20, 2021

Industrial building in Va. Beach sells for $6.15M

An 83,200-square-foot industrial building in Virginia Beach has sold for $6.15 million. Eisner Family Limited Partnership and Bart M. Eisner 2019 Irrevocable Trust purchased the building on 4.697 acres at 5721 Bayside Road in Virginia Beach from Chiap Hua Inc. The purchaser plans to hold the property as a long term investment. Stephanie Sanker with […]

Va. Beach apartment complex goes for $28.1M
Sep 20, 2021

Va. Beach apartment complex goes for $28.1M

Arbor Trace Apartment Homes, a Virginia Beach complex in the Oceanfront area, has sold for $28,175,000 to Hill Property Partners LLC, S.L. Nusbaum Realty Co. announced Monday. The neighborhood at 624 Suhtai Court is made up of 148 two-bedroom units, which will receive upgraded flooring and new appliances and fixtures. The community also includes a […]

Recent commercial real estate deals in Hampton Roads
Sep 17, 2021

Recent commercial real estate deals in Hampton Roads

The following commercial real estate deals in Hampton Roads were announced the week ending Sept. 17 by local firms. A multi-tenant retail condo at The Strand at 3244 Holland Road in Virginia Beach sold for $2.02 million. The 10,200-square-foot building was purchased by a private investment group that will occuply one of the existing spaces. […]

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