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The Hilb Group acquires Medicare-focused firm, six Va. companies
Henrico-County based insurance company The Hilb Group LLC finalized its acquisition of Health Quote of Rhode Island Inc. on July 1, it announced Tuesday. Financial terms of the transaction were not disclosed. Health Quote specializes in Medicare offerings, and its clientele will join THG’s Medicare practice. THG CEO Ricky Spiro said in a statement, “Our […]
Virginia Beach office buildings sell for $15.8M
Three buildings in the Pembroke Office Park in Virginia Beach sold for $15.77 million, S.L. Nusbaum Realty Co. announced Monday. Pembroke Buildings Four, Five and Six total 167,660 square feet. Pembroke Office Park is a 300,000-square-foot park with five multitenant office buildings. Seminole Trails Properties LLC bought the buildings. Stephanie Sanker, a certified commercial investment […]
Va. Beach apartment complex where Pharrell lived sells for $24.5M
The Virginia Beach apartment complex where music superstar Pharrell Williams lived until he was 7 has been sold for $24.5 million to Fairstead, a New York-based real estate company focused on sustainable development and affordable housing. The company announced Thursday that it plans a $15 million overhaul of the Atlantis Apartments in Virginia Beach’s Seatack […]
Breeden Co. names three new executives
The Breeden Co., the Virginia Beach-based real estate firm, announced last week it has promoted two people to become vice presidents, as well as hiring a third person as a vice president. Brenda Karp, currently vice president of Breeden Realty, has been promoted to vice president of business development for the entire company, effective Oct. […]
Va. Beach KFC building sold for $2.4M
A KFC restaurant in Virginia Beach will become a Cook Out following its $2.44 million purchase by Cook Out – Virginia Beach Inc., Cushman & Wakefield | Thalhimer announced last week. The 2,745-square-foot building at 1010 Independence Blvd. was sold by Cabrillo Mobile Lodge LLC, represented by Dean G. Martin of Thalhimer. The buyer plans […]
Federal approval process starts for Va. Beach wind farm
Friday will mark an important milestone for Dominion Energy Inc.’s wind energy plans, as the federal Bureau of Ocean Energy Management begins its two-year permitting and environmental review of the 2.6-gigawatt Coastal Virginia Offshore Wind project. That’s the next step before construction begins in 2024, Dominion said in a news release. Gov. Ralph Northam and […]
Va. Beach retail building sold for $2.2M
A Virginia Beach retail building has been sold for $2.2 million, and the buyer plans to develop a Freddy’s Frozen Custard & Steakburgers restaurant in the 6,000-square-foot building, Cushman & Wakefield | Thalhimer announced last week. Mosley Real Estate Advisors Inc. purchased the 796 Lynnhaven Parkway building from United Restaurant Group LP and also plans […]
Va. Beach industrial property sells for $3M
A 38,600-square-foot industrial building on 4.34 acres in Virginia Beach has been sold for $3,015,000, Cushman & Wakefield | Thalhimer announced last week. The property at 1424 Baker Road was sold by Baker & Associates LLC to B&D Acquisitions as an investment. Geoffrey W. Poston of Cushman & Wakefield | Thalhimer handled negotiations on the […]
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 […]
