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byline: Paula C. Squires

Terramar USA buys Norfolk Industrial building for $1.8 million

 

Terramar USA has purchased a 56,344-square-foot industrial building in Norfolk for $1.8 million.

The building is located on 3.1 acres at 1130 Kingwood Ave. Cameron Coleman and David Newman of the Fredericksburg office of Colwell Banker Commercial Elite represented Terramar USA in the purchase. The industrial warehouse will be Terramar USA’s first U.S. logistics location.

Terramar USA provides raw materials for the production of food for the animal husbandry industry, such as salmon, shrimp and other aquaculture species. Terramar, a company based in Spain, takes care of the supply, transport and distribution of materials as well as the warehousing and administration of the warehouses. 

Geoff Poston of Cushman Wakefield | Thalhimer represented the seller, Dillon Supply.

Industrial and storage facility in Roanoke sells for $1 million

VAAM Storage LLC has purchased two buildings in Roanoke for $1 million as an investment. The buildings on Cell Tower Drive total about 14,000 square feet. They are used for industrial and storage purposes.

According to Cushman & Wakefield | Thalhimer, the buyer intends to occupy a portion of the space. Thalhimer’s Jessica Gauldin handled the sale negotiations on behalf of the seller.

HHHunt Communities announces home builders for development in Henrico County

Homebuilders LeGault Homes, LifeStyle Home Builders and Schell Brothers will join HHHunt Homes as exclusive home builders in HHHunt Communities’ River Mill residential development in Henrico County.

Jonathan Ridout, vice president for land development with HHHunt Communities, noted in a statement that each builder has ties to the local community.

Plans for River Mill include 450 single homes, 300 townhomes and 285 apartments. The development is located on 250 acres right across Route 1, across from Virginia Center Commons mall.

LeGault Homes, based in Glen Allen, will build single-family homes.
LifeStyle Home Builders, based in Midlothian, and Schell Brothers, founded in Delaware, also will build single-family homes. Schell entered the Richmond market last year.

River Mill is a master-planned community that will offer a variety of green amenities such as open spaces, walking trails and a river park along the Chickahominy River.

According to HHHunt Communities, the setting and the community’s planned lifestyle activities are the reasons why River Mill was named the first-ever Active RVA Certified Community in the Richmond region by Sports Backers.  

Clearing and cutting on the site is underway. Lots are expected to be delivered this fall, with a model court of homes completed by spring 2019. Total buildout is expected to take five to six years. 

HHHunt Communities, based in Glen Allen, has developed several othercommunities in the Richmond area including Wellesley, Wyndham, Twin Hickory, Charter Colony, Rutland and White Hall.

Montecito Medical buys Virginia Eye Consultants building in Norfolk

Montecito Medical Real Estate, an owner of medical office buildings throughout the U.S., has acquired the Virginia Eye Consultants medical office building and ambulatory surgery center in Norfolk. The price was not disclosed.

The 34,177-square-foot building serves as headquarters for Virginia Eye Consultants (VEC). The facility provides 25,593 square feet of medical office space with more than 60 exam rooms, plus an accredited ambulatory surgery center. 

VEC specialists perform various eye procedures on site. They specialize in procedures related to LASIK eye surgery, cataracts, dry eye, eye diseases and skin rejuvenation. 

“Physicians evaluate patients thousands of times every year, but we sell our professional home perhaps only once or twice in a lifetime,” Dr. John Sheppard, president of Virginia Eye Consultants, said in a statement.

Sheppard noted that he had access to Montecito’s CEO, the chief accountant for personalized tax strategy analysis, and the vice president for acquisitions “with each executive providing email turnover within hours, not days. I truly anticipate our continued collaboration through the opportunity to reinvest in the property, as well as hopefully many more physician-friendly acquisitions to come.”

The Investment Sales Group of Virginia Beach-based Divaris Real Estate Inc. brokered the sale.  DRE’s Alex Divaris, Jason Oliver, and Vivian Turok represented the seller, Virginia Eye Development LLC, in the sale-leaseback transaction.

Built in 2005, the two-story Class A building is located near two major thoroughfares in Norfolk. “With 16 doctors and four offices, Virginia Eye Consultants is the largest ophthalmology practice in the Hampton Roads market and has a reputation for providing world-class specialty eye care, which makes it a strong addition to our portfolio,” Chip Conk, CEO of Montecito Medical, said in a statement.  “This asset met all of our criteria and is the second medical office property in the Tidewater area of Virginia that our company has acquired over the past four months.”

In December Montecito Medical acquired the Clearfield Portfolio, a medical campus in Virginia Beach with two attached buildings totaling 86,377 square feet.

VEC has been providing eye care to the Hampton Roads region for more than 50 years, and it has been recognized as one of the 20 fastest- growing businesses in Eastern Virginia.

Montecito Medical, with offices in offices in Nashville, Tenn.; Austin, Texas; and Orange County, Calif., is one of the nation’s largest privately held companies specializing in health care-related real estate acquisition

Since 2005, the company says it has been involved in medical real estate transactions of more than $2.3 billion totaling more than 6 million square feet in 25 states.

Its current portfolio and health-care system relationships include UCLA, Cleveland Clinic, Johns Hopkins, Holston Medical Group, Urology of Virginia, OrthoCarolina, Bon Secours, Maine General, Carolinas Health System, EmergeOrtho and State of Franklin Healthcare Associates.

 

U.S. Customs and Border Protection wants to lease 445,000 square feet in Ashburn

 

Loudoun County has announced an agreement between the county and American Real Estate Partners (AREP) to finalize a lease that would bring a headquarters office for the U.S. Customs and Border Protection Agency (CBP) and 3,700 jobs to an office park near the Ashburn Silver Line Metro station.

The Office of Information Technology (OIT) headquarters would occupy 445,000 square feet of Class-A office space at American Square at Quantum Park, located at 22001 Loudoun County Parkway.

The 15-year lease would consolidate CBP’s Northern Virginia IT offices and move the 3,700 positions to Loudoun, including engineers, technicians, scientists and support personnel.

The proposal is pending final action by the county’s board of supervisors, which is expected to vote on it Thursday.

“We are extremely thankful for the opportunity to host an agency critical to the safety of our country. Loudoun is an ideal location for federal agencies and contractors because we're only 25 miles from D.C., we're the home of Dulles International Airport and have one of the best technical workforces in the country,” the board’s chair person-at-large Phyllis Randall, said in a statement.

The Federal Aviation Administration and the U.S. Department of Homeland Security already have a significant presence in the county, along with numerous federal government contractors.

“This win confirms that Loudoun's investments in transportation and infrastructure are paying off in a big way,” said Broad Run District Supervisor Ron Meyer. “Plus, this is a double-win in that increased job growth in Loudoun moves the employment center of gravity away from D.C., which means less congestion from one-way commuting.”

In reaching an agreement with GSA, Loudoun was able to meet numerous criteria, including transit-accessible office space. The owner of American Square at Quantum Park, AREP — one of the region’s largest office investors with a portfolio of 11 million square feet — plans to make  $179 million in improvements to the facility, including build out of the existing space and a new wing. The improvements are expected to be completed in time for the agency to move in 2020, when the Silver Line will become operational in Loudoun.

Quantum Park, the former home of MCI/Worldcom, will also continue to house the operations of Verizon Business. The 125.8-acre Loudoun County Parkway campus contains 1.9 million square feet of office in 12 buildings spanning more than a third of a mile. In addition to being about a mile away from Ashburn Metro station, the site provides access to the Dulles Greenway, Route 28 and Dulles International Airport.

“Bringing CBP into our community helps underscore that Loudoun is continuing to develop into one of the region's major employment centers,”  Buddy Rizer, executive director of Loudoun Economic Development, said in a statement announcing the deal.

Loudoun County Transit will provide bus service to the campus, and numerous infrastructure improvements are already underway nearby in preparation for the Silver Line.

The county has three Metro stations under construction — Ashburn, Loudoun Gateway near Route 606, and Dulles Airport. In addition, the Innovation Metro Station near Route 28 is adjacent to Loudoun.

As part of the agreement, the board of supervisors will provide lease assistance to the GSA at terms consistent with other GSA agreements in the area.

Chesapeake shopping center sells for $3.4 million

Sky Horses Holdings LLC has purchased Holly Point Shopping Center in Chesapeake for $3.4 million from seller Pam Joy Realty Inc.

According to Cushman & Wakefield | Thalhimer, which announced the sale, the new owner purchased the retail center at 211 Providence Road as an investment. Sky Horses plans to occupy the anchor space for their grocery business.

Thalhimer’s Dean Martin handled the sale negotiations on behalf of the seller.

In lease transactions for Thalhimer in Hampton Roads: 

BAE Systems Norfolk Ship Repair leased 66,300 square feet at 401 Woodlake Drive in Chesapeake. Robert M. Thornton and William Throne handled the lease negotiations on behalf of the landlord.

U.S. Port Services, Inc. expanded into a total of 57,300 square feet at 1401 Maltby Ave. in Norfolk. Janet Whitbeck handled lease negotiations for the landlord.

Associated Materials LLC leased 17,719 square feet in Westpark III at 301 W. Park Lane in Hampton. Clay Culbreth handled the lease negotiations on behalf of the tenant.

Rimtyme renewed its lease of 10,000 square feet at 3233 W. Mercury Blvd. in Hampton. Bobby Phillips handled the lease negotiations.

HFF announces $18.7 million financing for Newport News apartment community

Holliday Fenoglio Fowler (HFF) has secured $18.7 million in acquisition financing for Meadow View Townhomes, a 400-unit, garden-style apartment community in Newport News.

HFF said it worked on behalf of the borrower, Brick Lane and Red Starr Investments, to secure the 10-year, fixed-rate acquisition loan through Freddie Mac’s CME Program.  The securitized loan will be serviced by HFF, a Freddie Mac multifamily approved seller/servicer for conventional loans.

Meadow View Townhomes is a 77-building property with one, two-, three- and four-bedroom units totaling 345,660 square feet.  Renovated in 2017, the property is situated on 26 acres at 4801 Marshall Ave.  just off Hampton Roads Beltway (Interstate 664). It’s a short distance from major employment drivers, including Langley Air Force Base and the Newport News Shipyard, as well as the Coliseum Central commercial corridor. 

On-site amenities include two laundry facilities in addition to in-unit washer and dryer hookups in each unit, a clubhouse, playground and on-site parking.

Trader Interactive moves corporate headquarters to Dominion Tower

Trader Interactive, a digital marketing company, has moved its corporate headquarters in downtown Norfolk to a new location. The company moved from 150 Granby St. to Dominion Tower at 999 Waterside Drive.


Trader Interactive has 250 employees in Norfolk. The company says the move will allow space for staff expansion, with the company planning to create 200 jobs duiring the next five years, with the majority of those jobs in Norfolk.


In response to an employee survey, the move provides amenities workers were seeking: onsite parking, a gym, collaborative space and nearby dining options.
“This move is a milestone in Trader’s growth as a new, independent company,” CEO Lori Stacy said in a statement.  “… We were focused on creating an open, collaborative environment where our innovative teams could thrive. The new office enables us to add new positions including 20% growth this year across a variety of sales, marketing, customer service, account management, technology and operations disciplines.”


Trader Interactive will occupy 39,081 square feet on floors 19, 20 and 21 of Dominion Tower. The building sits on the Elizabeth River with floor-to-ceiling views of the downtown waterfront. CBRE represented the landlord and Trader Interactive. The lease is the largest office transaction in Norfolk in the past two years.


Trader Interactive is a classified marketplace and marketing software solutions provider to commercial and recreational vehicle dealers. The company joined a private equity portfolio in 2017 led by Goldman Sachs Merchant Banking and Eurazeo Capital. Its business-to-consumer brands include Cycle Trader, RV Trader, Commercial Truck Trader and Equipment Trader. The company says its marketplace sites attract more than 7 million unique visitors monthly.  Trader Interactive has 10 businesses and about 350 employees in 26 states.

Work begins on $7 million renovation of Fairview Park in Falls Church

Washington Property Company (WPC) has begun a $7 million renovation of its 120,000-square-foot Fairview Park office building in Falls Church.

The Class A property at 3160 Fairview Park Drive is the former headquarters of Computer Sciences Corporation (CSC).

Upon completion of renovations this June, the building will have a new tenant-only fitness center with showers and locker rooms, a conference center and tenant collaboration area.
A glass canopy, new contemporary finishes, and a covered walkway leading to the 400-car parking garage will update a reconfigured lobby.

The new facility will offer a cardio studio with spin bikes and multiple flat-screen TVs. Additional work includes garage repairs and improvements, landscaping, and hardscaping.  All of the building’s systems are being replaced and bathrooms are being renovated.

Fairview Park is situated on a six-acre site within the 220-acre Fairview Park complex, where office tenants have access to three lakes, a koi pond, and 2.5 miles of jogging trails. The Fairview Park Marriott Hotel is within walking distance, and a shuttle provides free transportation to and from the nearby Mosaic District, an area with restaurants, Target and upscale boutiques.

WPC, based out of Bethesda, Md., acquired the property in March 2017 from CSC for $7.15 million. “We took advantage of an opportunity to acquire and renovate an existing office building in a great location and offer Class A space at competitive rental rates,” Andy Eshelman, WPC principal/acquisitions, said in a statement. “When Fairview Park was first developed in the 1980’s, a main selling point was its easy access to I-495. Now this office park offers proximity to the popular Mosaic District, Metrorail’s Dunn Loring-Merrifield station on the Silver and Orange Lines, and the rapidly redeveloping ‘edge city’ of Tysons.”

RagingWire Data Centers’ latest facility opens in Ashburn

RagingWire opened the latest of its data centers in Ashburn on Tuesday. The business and its parent company, NTT Communications, announced the opening of its third center, with another one on the way.

VA3 Data Center is the first building on RagingWire’s newest Ashburn Data Center Campus, a 78-acre parcel of land that eventually will include seven data centers with a total of 108 megawatts of critical load and more than 1 million square feet of space in a secure location.

For telecommunications, VA3 connects to RagingWire’s other two Ashburn data centers via a private fiber-optic ring. It also has three entry points for more than 25 carriers and cloud providers. For security, VA3 offers a building-within-a-building design, iris scanners, intelligent high-definition video cameras, a perimeter fence, and a security gate that RagingWire says can stop a 15,000-pound truck traveling at 30 mph.

Customer amenities include office space, conference rooms and lounges, a game room, exercise room, conference center and secured outdoor patio.

RagingWire’s VA1, VA2 and VA3 data centers in Ashburn provide customers with a total of more than a half-million square feet of space and 44.4 megawatts of power. The centers are also connected with other RagingWire campuses in Dallas and Northern California near Silicon Valley, as well as the company’s global data center platform of more than 140 data centers on 20 countries.  

Construction of a fourth center is underway on the Ashburn Data Center Campus and is expected to be completed in 2019. VA4 will offer 16 megawatts of power and about 200,000 square feet of data center space, including about 15,000 square feet of office space, conference rooms, and lounges.