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Va. Beach strip mall sells for $1.7M
The CheckSmart Plaza strip mall in Virginia Beach has a new owner. 5650 Virginia Beach Blvd purchased the strip mall at 5650 Virginia Beach Blvd. from the Lenhart-Frauenberg Partnership for $1.7 million as an investment, according to Cushman & Wakefield | Thalhimer. Built in 2006, the shopping center is 8,537 square feet, [...]
Chesterfield industrial property sells for $1.7M
An industrial/flex space property in Chesterfield County has sold for $1.7 million. 11300 Business Center LLC purchased a 9,100-square-foot building on 11300 Business Center Drive from AdvanceTEC Properties LLC as an investment, according to Cushman & Wakefield | Thalhimer. The building has been the corporate headquarters [...]
Roanoke apartment complex sells for $1.1M
The Eastgate Apartments in Roanoke have been sold for $1.1 million, Cushman & Wakefield | Thalhimer announced Monday. Restoration Turnkey Investments LLC acquired the community on March 28 from Rafan LLC. The buyer is planning extensive interior and exterior renovations. The complex, built in 1977, has 14 townhouse-style[...]
OBITUARY: Remembering P. Wesley Foster Jr.
P. Wesley Foster Jr., who co-founded Chantilly-based Long & Foster Real Estate Cos., building it into one of the nation’s largest real estate brokerages, died March 17 at his Alexandria home. Foster and partner Henry Long started Long & Foster in 1968 in Fairfax. The pair met when Long toured a home Foster was showing [...]
May 2023 Top Five
The top five most-read daily news stories on VirginiaBusiness.com from March 14 to April 13 included Washington Commanders owner Dan Snyder’s efforts to sell the Ashburn-based NFL team to a group of bidders including Philadelphia 76ers owner Josh Harris and NBA legend Magic Johnson. 1 | Naval operations building in Suffolk sells for $33M Home […]
Moseley Architects names next CEO
Jeffrey M. Hyder will step into the role of president and CEO for Richmond-based Moseley Architects beginning Aug. 1, the firm announced. Hyder, who joined the firm in 1993, will replace Stewart D. Roberson, who will step aside as president and CEO but continue to serve as the company’s chair. Roberson has been at the [&he[...]
Va. spring housing market has slow start
Virginia’s residential real estate market is off to a slow start this spring. Virginia home sales in March dropped 24% from March 2022, marking the 16th consecutive month of declining sales, and the median sales price dropped year-over-year for the first time in seven years, according to a Virginia Realtors report released Thu[...]
Capital Square names new SVP, product specialist
Stuart Bahnmuller has joined Glen Allen-based real estate company Capital Square as the firm’s senior vice president and registered product specialist to lead a national sales team for wealth managers and registered investment advisers, Capital Square announced Thursday. “For decades, alternative investments have been th[...]
Harvey Lindsay Jr., Norfolk real estate icon, dies at 93
Harvey L. Lindsay Jr., chairman and former president of Harvey Lindsay Commercial Real Estate, died Wednesday at the age of 93, the Norfolk firm announced Thursday. In addition to his nearly 70-year career in real estate, Lindsay was a Korean War veteran and an active volunteer in Hampton Roads civic organizations, as well as an[...]
VCU to open $125M STEM building next week
Virginia Commonwealth University will open its $125 million College of Humanities and Sciences’ 168,000-square-foot STEM building during a ribbon cutting scheduled next week. The six-floor building, located at 817 W. Franklin St. in Richmond, will expand lab, classroom and office space for the college, which is home to 17 depa[...]
Fed Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has contracted slightly since March, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
Chesapeake industrial building goes for $1.4M
AG Wraps Inc. has purchased a 11,200-square-foot industrial building in Chesapeake for $1.4 million, Cushman & Wakefield | Thalhimer announced Monday. The building, at 913 Business Park Drive, is on 1.05 acres, and it was purchased from Allen V. Alewine. The company installs short- and long-term vinyl graphics for vehicles a[...]
