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byline: Paula C. Squires

Golden Eagle Group buys Stafford office building for $10 million

 50 Tech Parkway, a 94,064-square-foot, Class A office building in Stafford has been sold to Golden Eagle Group for $10 million.

According to CBRE, which announced the sale, the building is part of the North Stafford Center for Business and Technology (NSCBT), a three-building office park adjacent to Quantico Marine Corp Base.

Located off Route 610, the building was constructed in 2006. It was about 75 percent eased at the time of the sale. Current tenants include GSA, BAE Systems Land & Armaments, L3, Vickers Nolan Enterprises and Gemini 3 Group.

Will Bradley of CBRE|Richmond and Lee Cherwek of CBRE|Fredericksburg represented the seller in this transaction. CBRE|Fredericksburg will retain leasing for the property.

Lingerfelt CommonWealth acquires Virginia Beach Resort Hotel & Conference Center

 

Lingerfelt CommonWealth Partners LLC, in a joint venture with Chicago-based JDI Realty LLC, has acquired the Virginia Beach Resort Hotel & Conference Center for $19 million.

Richmond-based Lingerfelt says the property, at 2800 Shore Drive, will undergo a $25 million renovation and be rebranded as Delta Hotels by Marriott – Virginia Beach Bayfront Suites.

Delta Hotels is Marriott’s newest, upscale, full-service hospitality brand designed for business and leisure travelers.

The hotel/conference center is located on the Chesapeake Bay on a 3.6-acre site and includes 263,328 square feet with 295 suites.

Commonwealth Lodging Management, Lingerfelt’s hotel management affiliate, will operate the hotel. “We are very excited to announce this acquisition and the rebranding of the Virginia Beach Resort Hotel and Conference Center to Delta Hotels by Marriott,” Duane Gauthier, managing director of commonwealth lodging, said in a statement.

Commonwealth Lodging plans to continue to operate the property as the Virginia Beach Resort and Conference Center until the renovation begins in the fourth quarter. 

Acquisition and renovation plans were first announced last month.

The property is close to Bay Island, First Landing State Park and the Chesapeake Bay Bridge Tunnel, along with nearby retail and entertainment options. 

It’s also seven miles away from the Virginia Beach Boardwalk and downtown area and eight miles from the Virginia Beach Convention Center. 

 

 

Sentara Healthcare seeks state approval for new hospital in Suffolk

Sentara Healthcare has asked for state approval on its plans for a 24-bed hospital on its Sentara BelleHarbour campus in Suffolk.

 

The Norfolk-based health system has filed a letter of intent with the Virginia Department of Health for a Certificate of Public Need (COPN) for the facility, which would include the 24 inpatient beds, two operating rooms and a CT scanner.

 

The COPN program requires owners of certain medical care facility projects to secure approval from the state health commissioner before initiating projects such as general acute care services.  The program seeks to contain health-care costs while ensuring financial viability and access to health care.

 

The Sentara BelleHarbour campus has been home to a free-standing emergency department and medical office building since 2008.

 

In May 2017, Sentara broke ground on a second medical building, initially approved by the state to house an ambulatory surgery center.

 

This four-story, 92,000-square-foot building now would house the hospital beds, operating rooms and a CT scanner to serve inpatients.

 

The long-term campus plan allows room for a parking deck and additional medical buildings as the community grows in the years ahead.

 

“This community is growing quickly and we want to put services in place so our patients can receive the care they need close to home,” Dr. Steve Julian, president of Sentara Obici Hospital, said in a statement. Sentara Obici oversees the Sentara BelleHarbour campus.

 

Sentara said a growing percentage of patients seen in the Sentara BelleHarbour emergency room are transferred to hospitals for further care. The new hospital will allow many of these patients to remain close to home in North Suffolk, the health system said.

 

“It’s safer for them to remain on the campus as an inpatient or observation patient than to go on the road or fly to a hospital,” Julian said. “We designed the second medical building to be hospital ready, and we’re seeing the need right now to provide these services.”

 

Plans for the hospital have been in the works for four years.

 

COPN approval is a multi-phase process that includes application reviews and recommendations by staff at the Virginia Department of Health, public hearings and, eventually, a decision by the commissioner of health. Sentara hopes to gain approval by the end of the year.

Miller Manufacuturing renews 143,155-square-foot lease in Richmond

Miller Manufacturing, Inc. has renewed its lease of 143,155 square feet  at 3301-A Castlewood Rd. in Richmond.   Evan M. Magrill and Scott Douglas of Cushman & Wakefield | Thalhimer handled the lease negotiations.

 In other transactions for Thalhimer:

Triton Stone Group of New Orleans renewed a 24,000-square-foot lease at 10471 Washington Highway in Hanover County. Gregg Beck handled the lease negotiations on behalf of the tenant and Scott Douglas represented the landlord.

C7 Works leased 10,600 square feet at 9996 Lickinghole Road in Hanover County.  Dawn M. Calabrese handled the lease negotiations on behalf of the tenant.

Noble Investment Group buys Westin Reston Heights Hotel


Holliday Fenoglio Fowler L.P. Thursday announced the sale and acquisition financing of Westin Reston Heights, a 191-room hotel in Reston. The acquisition price was not disclosed.


The HFF team marketed the property on behalf of the seller.  Noble Investment Group, based in Atlanta, purchased the hotel. According to HFF, Noble plans to implement a comprehensive guest room and public area upgrade and renovation. 

Additionally, working on behalf of the new owner, HFF said it arranged a floating-rate acquisition loan with a balance sheet lender.

The Westin Reston Heights opened in 2008. Amenities include a 24-hour business center, Vinifera Wine Bar & Bistro, 1,000 square feet of meeting and boardroom space and fitness outlets, such as a rooftop fitness studio with heated pool.

The hotel also offers a RunWestin program that provides local running maps and athletic shoes and apparel to guests during their stay. 

Located at 11750 Sunrise Valley Drive, the hotel will be within walking distance of the future Reston Town Center Metrorail Station (Silver Line), which is expected to be completed in 2019. 

“The Reston story is one of the best in the mid-Atlantic, with incredible development spurring major corporate relocations,” Cyrus Vazifdar, a senior director with HFF’s investment advisory team, said in a statement.

Virginia Beach apartments sell for $52.1 million

Charlottesville-based Seminole Trail Properties has purchased the 458-unit Mariner’s Cove Apartments in Virginia Beach for $52.1 million.

According to Berkadia, which announced the sale Thursday, the transaction closed on May 31.

Berkadia Senior Directors Alan Meetze and David Hudgins of the company’s Newport News office completed the sale on behalf of the seller, BDMG Inc., based in Maryland.

“Mariner’s Cove stands as a dynamic value-add play for the new ownership, and with a location near Virginia Beach Town Center, the asset has a terrific upside,” Meetze said in a statement. “The buyer has already commenced renovations, and Mariner’s Cove will be significantly transformed in the next 12 months.”

Located at 832 Blackfriars Drive, the property offers one-, two- and three-bedroom apartments and three-bedroom townhomes.

Walker & Dunlop structures $40.4 million in capital for renovated Alexandria property

 

 

Walker & Dunlop Inc. announced Wednesday that it recently structured $40.4 million in equity and debt financing for the recapitalization of The Mark Apartments, a 227-unit, high-rise apartment complex in Alexandria.

The clients, Northpoint Realty Partners and Persimmon Capital Partners, recently completed an extensive redevelopment program to transform the property from an outdated hotel to a modern multifamily community in an area of high rental demand.

Led by Managing Director Jamie Butler, Walker & Dunlop's Structured Finance team replaced the existing construction debt with a transaction that included a fixed-rate senior debt from Freddie Mac and joint venture equity from RSE Capital Partners. 

“Our clients have shown tremendous foresight, skill, and dedication in successfully completing the intricate conversion of an obsolete hotel into an innovative apartment building. The result is a property that squarely meets the overwhelming demand for housing in the submarket,” Butler said in a statement.

Located 15 minutes from downtown Washington, D.C., The Mark Apartments offers access to retail, entertainment, and key employers throughout the region by way of the Van Dorn Metro Station and Interstates 395 and 495.

 

The newly renovated property offers residents units ranging from studios to three-bedrooms. In addition to  new interiors and appliances, amenities include a pool with landscaped deck, an outdoor grilling and dining terrace, fitness center, laundry lounge and parking. 

Based in Bethesda, Md., Walker & Dunlop is one of the largest commercial real estate services and finance companies in the U.S. It has more than 600 employees in in 28 offices.

Construction to begin in August on new medical office building in Chesapeake

 

 

Construction is set to begin in August on a new medical office building at the former site of a garden center in Chesapeake.

 

Family Medicine Healthcare, a privately owned, independent family practice operating in the Portsmouth, Western Branch, Chesapeake and North Suffolk areas of Hampton Roads since 2004, recently purchased the three-acre site on Portsmouth Boulevard in the Western Branch area for $1.7 million.

 

According to S.L. Nusbaum Realty Co., the site was previously occupied for 25 years by McDonald Garden Center, which closed in 2017 due to changing shopping habits and competition from big box stores.

 

Tommy Drew, vice president, S.L. Nusbaum Realty Co., handled the sales transaction.

 

Plans for the site include a one-story, medical office building designed by architect Randolph T. Hicks.

 

The building will have parking, a covered porte-cochere and building canopy at the entrance and multifunctional exam and procedure rooms.

 

There is also room on the site for an additional 10,000-square-foot future expansion and courtyard.  The building is scheduled to be completed by June 2019.

 

Sussex Development will provide contracting services on the project. Kimley-Horn will handle the civil engineering while Lynch Mykins and P, M & E by Pace Collaborative will do the structural engineering.

 

New 193,424-square foot residential hall planned for Norfolk State University

 

 

 

 

 

Construction is expected to begin in a week on a new 193,424-square-foot residential facility at Norfolk State University.

 

Commonwealth Architects, S.B. Ballard Construction Co. and Niles Bolton Associates have teamed up to design and construct the project.

 

 S.B. Ballard will be the design-build contractor, while the design team will consist of Commonwealth Architects and Niles Bolton Associates.

 

Other design team members include Thompson Consulting Engineers (M/E/P engineers), Speight Marshall Francis (structural engineers), and VHB (civil engineers).

 

The four-story facility will offer a North and South Hall with a central two-story amenity space, and will include 740 beds for first-year students.

 

The amenity space, which connects the two residential wings, will house offices, conference room, fitness room, movement/yoga studio, multipurpose room, group study space, community kitchen, theater and an open gaming space.

 

The exterior façade will combine the university’s standard red brick with fiber cement panels along with glass curtainwall and precast concrete accents. Several areas of green space are planned as well as pedestrian walkways.

 

“We really wanted to create a facility that promotes community for NSU’s students. While maintaining the campus master plan, we envisioned a residence hall fit for nurturing educational goals while providing space for establishing relationships that will last a lifetime,” Anton V. Kashiri, associate vice president for facilities management at Norfolk State, said in a statement.

 

The facility will provide the necessary space to house NSU’s incoming students as the school continues to increase enrollment. Construction is expected to be complete by December 2019.

Informart Data Centers completes a new data center suite in Ashburn

Infomart Data Centers, a national wholesale carrier-neutral data center provide based in Sterling, said Monday that it has completed a new data center suite at its Ashburn facility.


The data center is the first of six 10,000-square-foot suites, each with a power capacity of up to 3 megawatts (MW). When complete, the facility will bring up to 18 MW of capacity to the Northern Virginia market.


Infomart Ashburn has a history dating back to the origin of the commercial internet when it served as the home of AOL's email platform.  Infomart said it has invested in a complete refurbishing of the facility’s infrastructure and interior and plans to position it to offer mechanical and electrical resiliency. 


“We are excited to announce that we’re open for business in Northern Virginia,” Dan Ephraim, vice president, Infomart said in a statement.  “We’ve worked quickly to bring an industry-leading facility to market and consider today the beginning of our commitment to being a leading provider in Northern Virginia.”


The facility will offer chilled water systems designed to operate at maximum efficiency. It also has what is known in the industry as redundant “Meet-Me-Rooms,”  and, as a carrier-neutral provider, is connected to a fiber ring providing access to more than 60 data centers throughout the region. Physical security includes berms, vehicle arresting cables, perimeter fencing and a gated entrance.


Infomart Data Centers offers wholesale and colocation facilities in three Tier I markets throughout the U.S.: including San Jose, Calif.; Hillsboro, Ore.; and Ashburn.