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Spotsylvania bank building sold for $1.1M
A former Atlantic Union Bank branch office in Spotsylvania County has sold for $1,145,000, Cushman & Wakefield | Thalhimer announced last week. The 3,229-square-foot building at 5831 Plank Road sits on .94 acres. Katy Land Holdings LLC, based in Texas, purchased the building. Will McGoogan, Jamie Scully, CCIM and Berkley Mit[...]
Virginia sees 12% increase in new listings in April
The state saw a 12% increase in new residential real estate listings since March, according to Virginia Realtors’ April 2021 Home Sales Report released last week. Although it’s typical for new listings to increase between March and April, the organization notes that this year’s gain was larger than in recent years, and new listings were […]
Small uptick in Hampton Roads residential real estate listings
In April 2021, there appeared to be signs that the Hampton Roads region’s low real estate inventory may be on the rise. According to the Real Estate Information Network Inc.’s monthly report on Southeastern Virginia, more listings have been added to the region’s Multiple Listing Service. Last month, there were 3,780 active listings, up from […]
Harbor Group International closes $558M loan obligation
Norfolk-based real estate investment and management firm Harbor Group International LLC has closed a $558 million commercial real estate collateralized loan obligation (CRE CLO), the company announced Wednesday. The deal, HGI 2021-FL1, is the firm’s first CRE CLO, which is a security backed by commercial real estate loans. HGI’s CRE CLO consists exclusively of bridge […]
HHHunt Corp. invests $247M in Southeast U.S. projects
Richmond-based real estate developer and builder HHHunt Corp. announced last week it has invested $247 million in residential communities in Charlotte and Raleigh, North Carolina, as well as plans to expand in the South Carolina, Nashville and Atlanta markets. With the expansion of the company’s investment in the Southeastern United States, it has announced changes […]
S.L. Nusbaum hires vice president of human resources
S.L. Nusbaum Realty Co. announced last week that Jennifer Leigh has been hired as the Norfolk firm’s vice president of human resources. She joins Nusbaum from CBRE (later acquired by Colliers) as chief human resources officer, with oversight over their offices in Virginia and North Carolina. Leigh previously worked in human resources at Sentara Healthcare, […]
Va. April unemployment rate at 4.7%, drops nearly half point
Virginia’s seasonally adjusted unemployment rate was at 4.7% in April, dropping 0.4 percentage points below March’s jobless rate. April’s statewide unemployment rate was 5.9 percentage points below April 2020’s rate of 10.6%, the first full month of pandemic-related job losses. Virginia contends to trend lower than the nation, however. The U.S. unemployment rate for April […][...]
Breeze Airways setting up base in Norfolk
Breeze Airways, a new low-cost airline, will invest $5.2 million to build an operations center in Norfolk, producing 116 jobs, the governor’s office announced Friday. The airline also will offer nonstop flights out of Richmond International Airport and Norfolk International Airport. The Salt Lake City, Utah-based startup c[...]
Suffolk names new city manager
Suffolk City Council unanimously agreed to hire Albert Moor as city manager during its regularly scheduled meeting on Wednesday. Council members appointed Moor to serve as interim city manager in September, following the resignation of Patrick Roberts, who held the post since 2015. Roberts had previously served as deputy city ma[...]
Va. sees second week of slightly lower initial jobless claims
Virginia saw another week of little change in initial unemployment claims, with 10,642 new claims filed during the week ending May 15, the Virginia Employment Commission reported Thursday. This was a decrease of 628 claimants from the previous week. Continued claims last week rose by 2,569 from the previous week, reaching 60,413[...]
Richmond panel recommends $600M Urban One casino proposal
The city of Richmond’s casino advisory panel has recommended Silver Spring, Maryland-based Urban One Inc.’s $600 million ONE Casino + Resort proposal to move forward for consideration by City Council and citizens, Mayor Levar Stoney’s office announced Thursday. If Council approves the recommendation and voters [...]
Smithfield company announces $40M Fort Monroe redevelopment
Smithfield-based Pack Brothers Hospitality LLC on Wednesday announced plans for a conference center, hotel, 500-seat restaurant and an overhauled 300-slip marina on part of Fort Monroe in Hampton. The company plans to invest $40 million in the redevelopment project and has been granted a 40-year ground lease by the Fort Monroe A[...]
