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CBRE’s Dan Johnson to retire after 27 years in multifamily brokerage

Dan Johnson, a senior vice president with CBRE|Hampton Roads who has specialized in multifamily sales brokerage, will retire at the end of the month.

According to CBRE, Johnson has been a market leader during this 27-year tenure with more than 140 transactions and more than $1.7 billion in sales transaction volume. In 2016, Johnson had more than $212 million in sales.

During his career, Johnson acted as the exclusive agent for apartment sellers. He has represented, among others firms, Harbor Group International, Great Atlantic, Aimco, Berkshire, Sentinel, Forest City, Prudential, Waverton, Bonaventure, The Lawson Cos., UDRT, LNR, Palms Associates, Terry-Peterson, PRG, Breeden, GrayCo, and Signature Management.

He began his real estate career with Goodman Segar Hogan in 1986 and has been with CBRE | Hampton Roads or its successor firms since 1991.

“We at CBRE|Hampton Roads and all of our multifamily sales clients in Hampton Roads are extremely grateful for Dan’s tremendous work ethic and dedication to make exceptional outcomes a trademark of consistency,” Perry Frazer, managing director of CBRE|Hampton Roads said in a statement.

Dash-In convenience store property sells for $2.9 million in Chesterfield County

Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller in the disposition of a new Dash-In convenience store located in Chesterfield County. The property, subject to a new 20-year ground lease, went for $2.9 million.

The property represents more than two acres of a forthcoming 92-acre, mixed-use development along Hull Street Road at Lonas Parkway. Thalhimer’s Catharine Spangler completed the sale.

More retail development coming to Waynesboro Town Center


Divaris Real Estate Inc. (DRE) announced the sale of an outparcel of 1.35 acres of land at Waynesboro Town Center in Waynesboro for $1.2 million for the development of two retail buildings of 7,920 square feet and 1,700 square feet. 

According to DRE, Seven Development LLC purchased the land at the entrance to the property from Waynesboro Town Center LLC. 

Brett McNamee and Ali Newton of the Richmond office of Divaris brokered the sale on behalf of the seller. 

The Divaris-leased Waynesboro Town Center, located at 740 Town Center Drive, is anchored by Target, Kohl’s, Michael’s, PetsMart, Aldi and Bed Bath & Beyond.

Other tenants include Hallmark Cards, Ann Taylor Loft, Rack Room Shoes, Ross Dress for Less and several restaurants.

Northam wants Virginia exempted from Trump’s offshore drilling plan

In a letter to U.S. Secretary of the Interior Ryan Zinke, Gov.-elect Ralph Northam requested Thursday that Virginia be excluded from the Bureau of Ocean Energy Management’s (BOEM) plans to expand offshore drilling off of all U.S. waters. The request follows Zinke’s announcement that Florida will be exempted from the plan.

“I grew up on Virginia’s Eastern Shore and can tell you firsthand that the Chesapeake Bay and the commonwealth’s ocean and coastal resources are every bit as ecologically and economically valuable as those of Florida, a state that was recently exempted from the leasing plan,” Northam said in the letter.  “I am encouraged by the decision to exempt Florida from the plan, and respectfully ask that the same exemption be made for the Commonwealth of Virginia.”

Northam pointed out that nearly half of the economy of the Hampton Roads region is tied to its military assets. “Less than two years ago, the Department of Defense raised material objections to the incompatibility of drilling with naval operations off Virginia’s coast. Nothing should be done to jeopardize our strong position with the military in Virginia.”

Northam also calls on the agency to allow Virginians to participate in a series of hearings that will include the Hampton Roads and Eastern Shore before the public comment period ends on March 9. Currently, BOEM has proposed a single public meeting to take place in Richmond, nearly 100 miles from the coastal communities.

“The Outer Continental Shelf Lands Act specifically gives weight to the opinions of the governors in coastal states where leases are considered. A bipartisan coalition of governors — including the governors of Maryland, Virginia, North Carolina, South Carolina, and Florida — have expressed opposition to drilling for oil and gas off of their coasts. I hope Virginians will be afforded an opportunity to have their voices heard and to avoid the adverse impacts associated with offshore drilling,” Northam wrote.

Earlier this month, Northam released a statement condemning the Trump administration’s plans to expand offshore drilling. “Expanding offshore drilling unnecessarily jeopardizes our economy, environment, national security, and the health and safety of our residents. All it takes is one exploration gone wrong to do immeasurable harm to major economic drivers including tourism, fishing, aquaculture, and our military installations,” he said.

Southwest Virginia Democratic legislators push back against pipelines

 

 

Southwest Virginia’s three Democratic legislators made clear Thursday that their region will continue to resist new natural gas pipelines with a package of bills that calls for tougher state regulations to protect individual property rights and water quality.

 

State Sen. John S. Edwards, Del. Chris S. Hurst and Del. Sam Rasoul presented a unified front during a joint press conference Thursday at the Pocahontas Building in Richmond. Rasoul said the group wanted to repeat a message raised earlier in the contentious fight against two new major pipelines in Virginia: “Don’t touch our drinking water.”

 

He noted that in the Southwest there are concerns that construction of a 42-inch pipeline to transport fracked gas through steep mountainous terrain and across streams in the Roanoke and New River Valleys could unearth sediment that could be washed downstream, threatening public water supplies.

 

In October,  the Federal Energy Regulatory Commission approved permits for the 300-mile Mountain Valley Pipeline, which would cut through the delegates’ mountainous region, and the Atlantic Coast Pipeline, a 600-mile pipeline that would stretch from West Virginia through parts of Virginia, including miles of national forests and mountainous terrain, before ending in  eastern North Carolina.

 

“I know that there are people all around the commonwealth who are anxious for the General Assembly to be able to stand up and say, ‘Enough is enough.’ We are tired of being bullied. We are tired of being pushed around,” Rasoul said. “People are watching all around this country and seeing what is happening here. We’re trying to bring in the largest pipelines in Virginia’s history and barrel them through our Virginia mountains and ruin some of our most precious resources.”

 

Rasoul said the bill he has introduced, House Bill 1141, would “ensure that the State Water Control Board does its duty, making sure that it doesn’t cede its responsibility to protect our water sources.” It would require both a Virginia water protection permit and an individual water quality certification under section 401 of the federal Clean Water Act.

 

Rasoul and Edwards said during the conference that many of their constituents are upset that the state is relying on a blanket permit by the U. S. Army Corps of Engineers to assess work in areas where the pipelines will cross streams and wetlands. “That’s completely insufficient,” said Edwards.

 

Rasoul’s bill also prohibits any land-disturbing activity, such as cutting down trees, prior to the issuance of a water quality certification.

 

In December, the State Water Control Board voted 5 to 2 to approve permits for the Mountain Valley Pipeline, a project backed by a consortium of companies led by EQT Midstream Partners.  Shortly thereafter, a coalition of environmental groups filed suit in the U.S. Court of Appeals for the 4th Circuit, seeking a review of the permits.

 

A few days later, the board also approved permits for the $5 billion Atlantic Coast Pipeline, whose majority partner is Richmond-based Dominion Energy. However, in that case, the board delayed the effective date for the permits — meaning construction cannot begin until additional environmental impact reports are completed.

 

Dominion Energy, which proposed the ACP in 2014, said in a statement following the water board’s vote that “the project has received the most thorough environmental review of any infrastructure project in Virginia history.”   The company has argued all along that there was a public need for the project and looked to the recent extreme cold weather of the last two weeks as proof.

 

“Severely limited capacity on the pipelines serving Virginia and North Carolina forced some utilities to curtail service to major industrial customers and raised consumer prices to historic highs. The reason is simple: our region’s pipelines are too constrained, and we don’t have enough access to lower-cost supplies from the Appalachian region,” Dominion spokesman Aaron Ruby said in a statement earlier this week.

 

The Southwest legislators did not rehash all the pros and cons of the projects at the conference, concentrating instead on their proposed package of legislation. Hurst’s bill, HB1187, which Edwards will champion on the Senate side in SB324, calls for more protections for property owners along the path of pipelines and restricts the ability of surveyors to access such properties.

 

In addition to notifying property owners before surveying for a natural gas pipeline, such notices would include a time and date of the planned visit, and it would need to be sent at least 21 days before a visit, the bill says.

 

HB1187 also prohibits a natural-gas company from entering property for such purposes “unless the State Corporation Commission has issued to it a public use certification, which may be issued only if the commission finds, among other things, that the company has demonstrated that the pipeline or facility is for a public use.”

 

The measure also establishes an expedited procedure for a landowner to seek injunctive relief and authorizes a landowner to bring a civil action for damages, including damages of $500 per day per individual entering or attempting to enter property in violation of the bill’s applicable requirements.

 

In another Hurst bill, HB1188 requires the operator of a natural gas pipeline to file a gas discharge contingency plan that would be approved by the State Water Control Board. The bill gives the board the right to require testing and inspection of the pipeline and annual retesting of groundwater for properties in a pipeline’s right of way. It also provides for enforcement and civil and criminal penalties.

 

Hurst, who was elected in November to represent the 12th district, said protecting the rights of property owners should be a bipartisan issue. “This issue should be one that everybody can agree needs to be addressed in a substantive way so that landowners make sure that they feel they are at the table for these negotiations.”

 

He added, “We want to craft legislation that we think can get support and ensure passage so that not only can we address problems that have happened in the past but also try and look towards what may be happening in the future.”

 

 

 

 

 

 

Partnership acquires Park Shirlington apartments in Arlington

Standard Communities, the affordable housing division of Standard Property Co., has acquired the 294-unit Park Shirlington apartment community in Arlington for $66.7 million in partnership with the National Foundation for Affordable Housing Solutions (NFAHS).

Standard, a real estate investment and management firm focused on multifamily assets nationwide that has six offices across the country, said the transaction preserves Park Shirlington as a well-located, naturally affordable housing property in the immediate term, while the new ownership explores potential long-term preservation options.  Naturally occurring typically refers to apartments that aren't encumbered by reduced rental restrictions, such as section 8 housing, but the location, age and proximity to amenities make these properties attractive as workforce housing.

The 16-acre property is adjacent to the Village at Shirlington, a dining and entertainment destination located just outside of Washington, D.C.  Standard said in a news release that the community provides housing options in an amenity-rich neighborhood that would otherwise be out of reach for many of the lower-income families that currently call Park Shirlington home.

“The acquisition of Park Shirlington is an especially exciting transaction for our team and for the property’s residents,” Standard Communities Co-founder Jeff Jaeger said in a statement. “As we look toward the future of Park Shirlington, we are thrilled to have the opportunity to reinvigorate the complex and bring it into its next phase of development.”

Todd Travis, president and CEO of the National Foundation for Affordable Housing Solutions, — a Rockville, Md.-based nonprofit that works to preserve the country’s existing assisted rental housing stock, said in a statement: “Park Shirlington’s location made it an important acquisition opportunity … There are fewer and fewer properties in the D.C. area that allow lower-income residents to call an amenity rich, walkable community home. We are proud to be involved in helping to shape the future of Park Shirlington for the better.”

CBRE|Hampton Roads selected to lease and manage Chesapeake center

 

CBRE|Hampton Roads has been selected as the exclusive leasing and management agent for Las Gaviotas Shopping Center in Chesapeake.

The 90,505-square-foot retail strip center, located on Cedar Road in the Great Bridge submarket, is anchored by a Food Lion. Other tenants include Fitness 19, Dollar General, Plaza Azteca, State Farm and Enterprise Rent-A-Car.


CBRE’s Natalie Hucke & Kevin O’Keefe will represent the landlord in marketing and leasing, and Henry Wilcox will oversee the property management and operations.

Former Ukrop’s grocery property in Fredericksburg area sells for $2. 2 million

A former Ukrop’s grocery store property that has been vacant for nearly eight years has sold for $2.2 million to a local private investor.

Cushman & Wakefield | Thalhimer, which announced the sale, said the 63,000-square-foot former store at 4250 Plank Road in Spotsylvania County has been vacant since Ukrop’s closed the store in 2010 after the company was sold.

W.T.F.H.I.D LLC purchased the six-acre site from Cedar-Fredericksburg UK LLC. , a subsidiary of Cedar Realty Trust, a real estate investment trust.

Thalhimer handled the sale negotiations on behalf of the seller and will represent the new owner on the leasing. According to James Ashby IV, a senior vice president at Thalhimer who heads the firm’s retail group, the property – close to Interstate 95, is drawing lots of interest. “There are not a lot of options along the Route 3 corridor in the 20,000 to 60,000-square-foot ranges,” he said.

Asked why the property remained vacant for so long, Ashby explains that Ukrop’s had a long-term lease obligation to fulfill and was paying rent to the previous owner. Now that the property has been sold and is under new ownership, “we are talking to several tenants interested in leasing the entire space as well as two users who are interested in leasing half of it.”

So far, Ashby says he has heard from two office suppliers, a couple of gyms, a pet store and a home goods retailer.  The building is 21 years old.

Friendship Health in Roanoke appoints operations director

Friendship Health & Living Communities, a Roanoke-based company that provides senior living and rehabilitation facilities, has appointed Ben Higgins as director of healthcare operations.

Higgins will oversee the operations for Friendship’s skilled nursing facilities, assisted living, home care services and adult day care facility. He also will direct operations for Friendship’s partner facility, Salem Terrace at Harrogate, which provides independent living, assisted living and memory care accommodations.

Higgins is a graduate of James Madison University with a bachelor of science degree in health services administration. According to Friendship, he has years of experience in long-term care administration on a local and regional level.

Before joining Friendship, he served as administrator of Brandon Oaks Nursing and Rehabilitation Center in Roanoke and as administrator of Liberty Ridge Health and Rehabilitation Center in Lynchburg. He also served as regional vice resident of operations at Roanoke-based American HealthCare LLC.

Higgins is active in with several industry leadership organizations, including the Virginia Health Care Association and the National Association of Long Term Care Administrator Boards. He also was one of 38 long-term care professionals from across the country selected to participate in the American Health Care Association’s Future Leaders program in 2016/2017.

CBRE arranges sale of 244-unit affordable apartment complex in Roanoke

CBRE Affordable Housing has arranged the sale of Ashton Heights, a 244-unit apartment community in Roanoke.

A joint venture of EBEX Holdings and FriedLam Partners., a Teaneck, N.J.-based company that purchases and manages multifamily properties throughout the East Coast, purchased the property on 3530 Dona Driive, NW.

The sales price was not disclosed.

“This was a complicated and multilayered transaction with both LIHTC and Section 8/HAP restrictions on all of the units. CBRE Affordable Housing was able to help us through the steps to make it a successful transaction,” Evan Goldenberg, principal at EBEX Holdings, said in a statement. EBEX, based in Beverly Hills, Calif., purchases affordable and market rate multifamily properties.

Ashton Heights offers one-, two-, and three-bedroom units. The property was renovated in 2005 and has had a historical occupancy of more than 96 percent for the past three years.

“Affordable housing is so critical in local communities, and we look forward to managing and preserving this property in Roanoke while continuing to grow our affordable-housing portfolio,” Nathan Friedman, principal at FriedLam Partners, said in a statement.

Jeff Kunitz and Alex Medeiros of CBRE Affordable Housing and Charles Wentworth and Peyton Cox of CBRE|Richmond organized the property’s sale.

CBRE Affordable Housing is a specialty group within CBRE Group Inc. that combines investment sales, debt and structured finance, and investment banking into an integrated service offering for clients in the affordable housing industry.  According to CBRE, the group has closed $15.2 billion dollars in sales and financing since 2001 and has conducted transactions in all 50 states and Puerto Rico.