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Health care venture to establish manufacturing facility in Norfolk
Princo LLC, a joint venture comprised of health care companies Premier Inc., Vario Labs LLC and Caretrust LLC, will invest up to $23.8 million to establish a health care products manufacturing facility in Norfolk, creating an expected 284 jobs, Gov. Glenn Youngkin announced Tuesday. Princo will initially invest $18.1 million with the potential to invest […]
Roanoke shopping center sells for $4.8M
A shopping center in Roanoke has changed hands. Salem-based Omma Management LLC purchased the 49,881-square-foot Oak Grove Plaza in Roanoke for $4.8 million, Cushman & Wakefield | Thalhimer announced. Built in 1964, Oak Grove Plaza is located at 2061 Electric Road. CXL Inc. sold the property, which is on about four acres. Cu[...]
$130M mixed-use development planned for Hampton
A proposed $130 million development will bring 118 townhomes, 284 luxury apartments, 96 senior apartments and 6,000 square feet of retail space to Hampton. The project, called The Olde Hampton Village, will span 16 parcels across nearly 23 acres near downtown Hampton, at the former site of the Lincoln Park housing development, o[...]
Danville lacks housing options for workforce
Danville is having a “Field of Dreams” dilemma. The famous movie quote, “If you build it, they will come,” rings all too true in the former mill town, which is attracting companies to its industrial parks and old Dan River Mills properties, along with a $650 million casino. It’s good news on paper, but where […]
Fort Monroe development moving forward
Apartments, a 250-person event center, a boutique hotel, a 500-seat restaurant, a marina and a firing range will soon dot the landscape at Fort Monroe with the help of historic tax credits, public funds and private investment. Hanover County-based Echelon Resources Inc. was named master developer by the Fort Monroe Authority for[...]
‘Flight to quality’
When Jessica Bronner wants to meet up with friends for a drink or meal, she doesn’t have to move her car from the garage at Ink, the luxury apartment building where she lives in Richmond’s trendy Scott’s Addition neighborhood. Developed by Glen Allen-based Capital Square and completed in January 2022, the 80-unit Ink is on[...]
Norfolk’s MacArthur Center mall listed for sale
Downtown Norfolk’s struggling mall, MacArthur Center, is officially on the market. A listing from real estate company JLL describes the 23-acre property as “a compelling redevelopment opportunity.” The listing encourages prospective buyers to “reimagine a major asset in the Norfolk [central business distr[...]
Petersburg industrial building sells for $4.6M
An industrial building in Petersburg that once served as the tri-cities headquarters for Pepsi has sold for about $4.6 million, One South Commercial announced Wednesday. An entity connected with Waukeshaw Development Inc. in Petersburg sold the 100,492-square-foot building located at 1501 W. Washington St. in Petersburg to 1501 Petersburg LLC, an entity based in McLean. […]
Former EAB buildings in Henrico sell for $5.35M
A Richmond-based real estate company has purchased three office buildings in western Henrico County for $5.35 million, Commonwealth Commercial Partners LLC announced Monday. Formerly the headquarters of education research company EAB, the buildings are located at 1910, 1920 and 1950 E. Parham Drive. Marwaha Property Management, [...]
Colliers to manage, lease City Center at Oyster Point
Colliers will be the leasing and management company for City Center at Oyster Point in Newport News, Florida-based real estate investment firm Murphy Property Group announced last week. Colliers will manage nearly 600,000 square feet across nine buildings. City Center, which is 52 acres, serves as sort of a central downtown area[...]
Colliers promotes two Va. execs
Colliers has promoted two executives to serve in new leadership roles. Jessica Butterworth, formerly director of engineering, will serve as senior director of operations for Virginia and Raleigh, North Carolina. Greg Nachman, formerly senior portfolio manager, has been promoted to director of operations for Richmond and Charlott[...]
Fredericksburg medical building sells for $6.85M
A medical office building in Fredericksburg sold for $6.85 million, Charlotte, North Carolina-based outpatient health care real estate firm Flagship Healthcare Properties LLC announced Wednesday. Built in 2007, the 16,483-square-foot medical office building is located at 1071 Care Way, adjacent to the 450-bed Mary Washington Hos[...]
