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Henrico office building sells for $66M
Richmond-based Kinsale Insurance has sold a 291,000-square-foot Class A office building on Staples Mill Road in western Henrico County for $66 million. The office, located at 2103 Staples Mill Road, was sold to Salus Federal Properties, a Charlotte, North Carolina-based limited liability company, commercial real estate firm Newm[...]
Henrico shopping center sells for $18.4M
Merchant’s Walk Shopping Center in Henrico County has sold for $18.4 million. Qi Lin, a local investor who in 2022 purchased the Southpark shopping center in Chesterfield County for $5.4 million, purchased Merchant’s Walk, according to Divaris Real Estate. Located at 7580 W. Broad St., Merchant’s Walk is at the[...]
NoVa home prices increase, Hampton Roads sees inventory boost
Median home prices in Northern Virginia continue to increase, hitting $700,000 in August, an 11.6% percent increase over the previous year, according to the latest report from the Northern Virginia Association of Realtors. At the same time, year-over-year sales declined, decreasing 12.4% from August 2022, but month-over-month sales increased as the summer reaches its end. […]
Glen Allen shopping center sells for $9.5M
A shopping center anchored by a Michaels craft store in Glen Allen sold for $9.5 million, Cushman & Wakefield | Thalhimer announced. Airport Hotel LLC, of Ellicott City, Maryland, bought Broad Street Plaza, located at 9856-9864 W. Broad St. in Henrico County, on Sept. 12. The four-tenant retail center is 100% leased and incl[...]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is ba[...]
Cushman & Wakefield | Thalhimer hire Richmond VP
Brian Felton has joined Cushman & Wakefield | Thalhimer’s Richmond office as a first vice president focused on industrial sales and leasing, the real estate firm announced Tuesday. Felton was previously a senior leasing manager with San Francisco-based Prologis, where he oversaw a 3.6 million-square-foot portfolio of indus[...]
Hazelwood Farms is set to become industrial park
A 328-acre former James City County farm is set to become the largest speculative industrial project along the Interstate 64 corridor between the Port of Virginia and Richmond. Hazelwood Farms was purchased for $12 million in April by Houston-based industrial real estate firm Lovett Industrial, which plans to develop a 2.2 mil[...]
Winchester shopping center sale could revitalize area
During his time on Winchester City Council, Jeff Buettner recalls, plans to revitalize Ward Plaza shopping center were a frequent topic of conversation at every council retreat, going back as far as 1998. Now, as interim executive director of the Winchester Economic Development Authority, he believes that vision is coming close [...]
Serving a repurpose
In Alexandria’s Old Town North, a collection of three brick office buildings built in the 1980s is being transformed into Tide Lock, a community of 234 luxury apartments and condominiums featuring Potomac River views and space for retail and a nonprofit music school. And last summer in the city’s Alexandria West neighborho[...]
Four Prince William shopping centers sell for $52.8M
A portfolio of four regional shopping centers in Prince William County’s Dale City area has sold for $52.8 million, the joint venture of buyers announced Monday. Located less than 3 miles apart along Dale Boulevard, the 1970s-era shopping centers — Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza — t[...]
Low inventory, high interest rates strap Va. housing market
Homebuyers in Virginia are continuing to feel the strain of low inventory and high interest rates. The number of active listings on the market is shrinking, and fewer new listings are coming on the market. Despite a brief uptick in inventory at the beginning the year, about 67% of the state’s counties and cities had [&hell[...]
Henrico shopping center sells for $10.1M
A neighborhood retail center in Henrico County sold for $10.1 million on Aug. 17. Named The Shops at Wellesley, the 42,318-square-foot shopping center is located at 3416-3470 Lauderdale Drive. The center was built in 1992 and occupies a 6.99-acre lot, according to county property records. It was 94% leased at the time of sale wi[...]
