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Real Estate

Jul 7, 2023

Five Guys moving HQ to Alexandria

Five Guys Enterprises LLC is moving its corporate headquarters from southern Fairfax County to Alexandria this month, a spokesperson confirmed Friday. The new main office for the family-owned hamburger chain will be in leased space at 1940 Duke St., starting July 17. Friday was the company’s last day at its Lorton headquar[...]

Jun 29, 2023

Fairwinds Landing project breaks ground in Norfolk

Developers broke ground Thursday morning on the Fairwinds Landing maritime operations and logistics center supporting Hampton Roads’ offshore wind, defense and transportation industries.  The development project at Norfolk Southern Corp.’s Lambert’s Points Docks in Norfolk is being spearheaded by Fairwinds Lan[...]

Jun 26, 2023

Pembroke Square scales back some parts of project

Pembroke Square, the $200 million redevelopment of Pembroke Mall in Virginia Beach, is moving forward but at a smaller scale, according to the president of Pembroke Realty Group. Pembroke Square Associates LLC first announced plans for the redevelopment of the aging mall’s 54 acres in November 2021, with groundbreaking for[...]

Jun 26, 2023

Breeden finishes projects in Albemarle, Chester, Petersburg

The Breeden Co. has completed construction on an 10-building apartment community in Albemarle County and has broken ground on a Virginia Beach apartment complex, and its subsidiary, Breeden Construction, has finished apartment communities in Chester and Petersburg. Completed in June, Berkmar Landing apartments in Albemarle has 2[...]

Jun 26, 2023

Warehouse portfolio in Chesapeake sells for $24M

The Port of Virginia Distribution Center, a two-building, 334,881-square-foot industrial portfolio in Chesapeake, has changed hands. Chesapeake Industrial Park LLC acquired the property at 2620-2626 Indian River Road for $24 million, according to Cushman & Wakefield | Thalhimer, which represented the seller. Phoenix Chesapea[...]

Jun 20, 2023

Zim announces $30M expansion

Zim American Integrated Shipping Services Co. LLC will invest $30 million to expand its U.S. headquarters in Virginia Beach, creating several hundred jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. The expansion includes a move from Norfolk, where the company has had its U.S. headquarters since 2001. Zim is[...]

Jun 20, 2023

HeadWaters developers scrap temporary casino plans

The developers of the $500 million HeadWaters Resort & Casino in Norfolk have scrapped plans to open a 45,000-square-foot temporary casino, instead focusing all their efforts on building the permanent casino, which will open before construction begins on an associated hotel and other planned amenities. “We have changed ou[...]

Jun 16, 2023

Buc-ee’s to open in New Kent by 2025

It’s official. Buc-ee’s, the Texas-size travel center chain, completed its purchase of property in New Kent County and will open its first Virginia location in the next two years, with three more slated across the state, S.L. Nusbaum Realty Co. said in a news release. A groundbreaking date for the New Kent site has n[...]

Jun 12, 2023

NoVa housing forecast: sellers’ market to continue

Northern Virginia’s housing market will likely remain a sellers’ market for the rest of 2023, according to a Northern Virginia Association of Realtors market forecast released June 6. NVAR and George Mason University’s Center for Regional Analysis predict a continuing housing inventory shortage and pent-up demand from buyers amid positive economic conditions but mounting risks. […][...]

Jun 7, 2023

Norfolk City Council votes to purchase MacArthur Center

On Wednesday evening during a special meeting, Norfolk City Council members approved plans for the city to purchase the struggling MacArthur Center mall downtown for up to $18 million.  The 23-acre MacArthur Center is owned by Wells Fargo & Co., which holds the mall following a loan default by the mall’s previous owne[...]

Jun 7, 2023

Hampton Roads warehouses sell for $8.4M

A portfolio of three warehouses in Hampton Roads sold for $8.4 million in mid-May. Tidewater Fleet Supply, an independent distributor of fleet, truck, trailer and heavy equipment parts, leases the properties. Located at 3666 Progress Road, the Norfolk warehouse sold for $6.03 million, according to city property records. The parc[...]

Jun 6, 2023

Norfolk eyes $18M purchase of MacArthur Center mall

Read update: Norfolk City Council votes to buy mall Norfolk City Council will discuss acquiring the struggling downtown MacArthur Center mall for $18 million during a special meeting Wednesday. MacArthur Center is owned by Wells Fargo & Co., which holds the mall following a loan default by the mall’s previous owner, Co[...]

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