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Shamin Hotels purchases Va. Beach Hampton Inn
Chesterfield County-based Shamin Hotels has purchased the 120-room Hampton Inn property on Virginia Beach‘s Oceanfront, Grand Bay Advisors, which represented the seller in the transaction, announced Friday. The sale amount was not disclosed, but the land and building are assessed at $20.6 million, according to city records. Norfolk-based Grand Bay said in a news release […]
Rolling out the red carpet
With high-speed subsea internet cables landing on Virginia Beach‘s shores and massive wind turbines propelling off its coast, the state’s largest city is primed to welcome new businesses and industries generating high-end jobs. “Virginia Beach is going to be the epicenter of economic development on the East Coast,” says Mayor Bobby Dyer. “I am convinced […]
Checkered Flag Auto Group acquires Newport News dealership
Virginia Beach-based Checkered Flag Auto Group announced Tuesday that it has purchased the Pomoco Chrysler, Dodge, Jeep, Ram, Alfa Romeo and Fiat dealership in Newport News. The acquisition is the company’s first dealership on the peninsula and its first to include U.S. automotive brands. Checkered Flag Auto Group consists of 10 other dealerships in the […]
Va. Beach industrial office park sold for $4.1M
Virginia Beach’s First Colonial office park has been sold for $4.14 million, Cushman & Wakefield | Thalhimer announced last week. The adjoining lots at 205-217 First Colonial Road make up 2.99 acres and include a 37,500-square-foot office/warehouse park. CP Roadrunners LLC purchased the property from Virginia-based Nostalgia Partners LLC as an investment. Geoff Poston and […]
Virginia Beach office building sells for $1.9M
Commonwealth Park Executive Center in Virginia Beach has sold for $1.9 million, Colliers announced Thursday. The Class B, two-story building located at 900 Commonwealth Place once housed the WCMS radio studios and currently is 100% occupied. It was built in 1975. The building has 20,180 rentable square feet leased to five tenants, including Commonwealth Park […]
$59.6M hydroponic operation coming to Va. Beach
Agriculture startup Sunny Farms LLC plans to build a $59.6 million, 32-acre hydroponic operation in Virginia Beach — creating 155 jobs and one of the largest greenhouses on the East Coast, Virginia Gov. Ralph Northam announced Tuesday. The facility, which will cover 1.2 million square feet when completed in three years, will be located at […]
Virginia Beach office property sells for $1M
CR Assets LLC has purchased a 5,040-square-foot office building in Virginia Beach for $1 million, Cushman & Wakefield | Thalhimer announced on Monday. Located at 4598 Broad St., the building will serve as the future corporate headquarters of Canzell Realty. It was sold by Broad Street Associates. The sale closed on April 8. Rob Wright […]
Hampton Roads bank receives regulatory approval
Integrity Bank for Business, a new bank forming in Virginia Beach, has received all necessary regulatory approvals to open for business as a bank, it announced Wednesday. The approvals obtained include: the issuance of a Virginia state bank charter from the Virginia State Corporation Commission and the Virginia Bureau of Financial Institutions; deposit insurance from […]
The Breeden Co. names CFO for Breeden Construction
Virginia Beach-based real estate development firm The Breeden Co. has promoted Angie Loew to vice president and chief financial officer of its Richmond-based Breeden Construction division. Loew joined Breeden in 2004 as a commercial accountant and served most recently as divisional controller of the company’s general contracting division. Loew will be responsible for all financial […]
Construction to start in May on $66M Pinnacle apartments in Va. Beach
Virginia Beach-based Breeden Co. has scheduled a May 7 groundbreaking date for The Pinnacle, its upcoming $66 million luxury apartment complex at the Oceanfront. Located at 521 31st St., The Pinnacle will offer 240 one-, two- and three-bedroom apartments on the site of a former Farm Fresh grocery store that closed in 2018. Construction is […]
Eight over 80
What keeps a person working at an age when most of us are happy to let others take care of business? These overachieving Virginians, all over age 80, have remained hard at work mostly for one or more of three reasons. The first is being able to continue work with family. Retirement is rarely mandatory […]
Dark fiber optic network coming to NoVa
A new 680-mile, regional fiber optic network will begin to take shape in Northern Virginia during the second half of 2021. The project is a joint venture between Annandale-based Tenebris Fiber, Kansas-based Diode Ventures and New York-based JLC Infrastructure. Construction on the new dark fiber network will begin later this year, the companies said, starting […]
