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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 […]
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
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 [&[...]
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
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
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
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
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. […]
Va. hotels expect $1.5B loss in 2021 biz travel
The Virginia hotel industry expects to take a $1.5 billion loss this year stemming from sharply reduced business travel — 63.5% below pre-pandemic revenue levels, according to projections released Wednesday by the American Hotel & Lodging Association. Business travel is expected to generate about $864.5 million for hotels in Virginia for the 2021 calendar year, […]
Virginia Beach office building sells for $10.45M
A building in the Reflections Office Park in Virginia Beach sold for $10.45 million, Cushman & Wakefield | Thalhimer announced Monday. Built in 1999, the building, Reflections IV, is 79,946 square feet and sits on 4.51 acres. It is located at 2901 S. Lynnhaven Road, and its tenants include Timmons Group, RK&K, Midgett Preti Olansen […]
Virginia Beach neighborhood center sells for $6.43M
A neighborhood shopping center in Virginia Beach sold for $6.43 million, Colliers’ Retail Investment Group announced last week. Located at 3208 Holland Road, the center, Buckner Plaza, is 63,500 square feet and sits on 5.48 acres. It is 95.4% leased and anchored by Food Lion and Dollar General. Food Lion has been a tenant since […]
Virginia Beach restaurant building sells for $1.6M
A restaurant building in Virginia Beach sold for $1.6 million, Cushman & Wakefield | Thalhimer announced Monday. Located at 1784 General Booth Blvd., the building is 5,105 square feet. Mahant Enterprise LLC bought the building from El Tapatio III for a Fuddruckers restaurant. Rob Wright with Thalhimer handled the sale on behalf of the buyer.
