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Real Estate

Virginia home sales in past Marchs. Figure courtesy Virginia Realtors
Apr 21, 2023

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[...]

Apr 21, 2023

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 L. LINDSAY JR.
Apr 20, 2023

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[...]

Apr 20, 2023

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[...]

Apr 19, 2023

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[...]

Apr 18, 2023

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[...]

Apr 18, 2023

Chesterfield business center building sells for $1.36M

Six Bees II LLC has purchased a 10,680-square-foot office and warehouse building in Chesterfield County’s Branchway Business Center for $1.36 million. Six Bees II, which is affiliated with CK Bosworth Construction, purchased the building from 1321 Business Center Drive LLC, and the company will occupy half of the building [...]

Apr 10, 2023

Former auto dealership property in Va. Beach sells

A former auto dealership property in Virginia Beach has a new owner.  Best Buy Wheels purchased a 3,904-square-foot former auto dealership from BT Associates LLC for $1.5 million to operate as a second location for its auto dealership. The property, located at 1305 Oceana Blvd., was formerly Bay Shore Used Auto Sales.  Clay Wi[...]

Apr 10, 2023

Frito-Lay building in Chesapeake sells for $5.4M

A 29,494-square-foot industrial building in Chesapeake has changed ownership, S.L. Nusbaum Realty Co. announced.  B&D Acquisitions LLC purchased the building for $5.425 million from Rolling Frito-Lay Sales LP. The building is located on about 6.5 acres at 909 and 913 Professional Place in Chesapeake. Rolling Frito Lay will [...]

Aqua Vista Apartments in Newport News. Photo courtesy The BLVD Group
Apr 10, 2023

$35.8M Newport News affordable housing redevelopment begins

The BLVD Group has acquired and started renovations on the Aqua Vista Apartments in Newport News, the Los Angeles- and Dallas-based company announced Tuesday. BLVD expects development costs, including the property purchase and “soft costs” like engineering and design, to total more than $35.8 million. A BLVD-affiliat[...]

Apr 7, 2023

Bowman acquires Maryland engineering firm

Reston-based Bowman Consulting Group Ltd. has acquired Rockville, Maryland-based Richter & Associates, a dry utility infrastructure engineering firm, the company announced Tuesday. Terms of the deal were not disclosed. Richter has 28 employees. The company works with private and public clients as well as utilities to design, develop and implement natural gas, electric and telecommunications […][...]

Aerial view of 5701 Grove Ave. Image courtesy Cushman & Wakefield | Thalhimer
Apr 7, 2023

Retail/office collection in Richmond sells for $6.3M

A combined 15,994 square feet of retail and office buildings in Richmond’s West End area sold for $6.3 million in late March, according to Cushman & Wakefield | Thalhimer. The buildings are located at the corner of Grove and Granite avenues, at addresses 5701-5707 Grove Ave. and 124 Granite Ave. About half of the buildings[...]

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