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Lego delays Chesterfield production start to 2027
Lego Group will begin production at its $1 billion Chesterfield manufacturing facility in 2027, at least a year later than originally planned, the Danish toymaker announced Thursday. The company also named Preben Elnef as project lead and Gray | Hourigan, a joint venture between Lexington, Kentucky-based Gray and Richmond-base[...]
CoStar Group moving global HQ to Arlington
UPDATED: Feb. 16, 10 a.m. CoStar Group, which already has a major presence in Richmond, will invest $20 million to move its global corporate headquarters from Washington, D.C., to Arlington County’s Rosslyn area, Virginia Gov. Glenn Youngkin announced Tuesday. Known for its online real estate marketplaces Apartments.com an[...]
Bills to cap rent increases don’t advance this session
RICHMOND, Va. — State lawmakers did not advance legislation this session that aimed to slow rising rent prices, although affordable housing remains a big concern for constituents. Two proposed bills would have allowed localities to adopt anti-rent gouging provisions, prevent landlords from increasing rent without at least t[...]
Va. Beach apartment complex sells for $36M
Dove Landing, a 318-unit apartment complex in Virginia Beach, has changed hands, Berkadia announced Jan. 31. Chesapeake-based Community Investment Group bought the property for $36 million from Enterprise Community Development, a nonprofit affordable housing provider in the mid-Atlantic, according to a news release from Berkadi[...]
Former Concorde Holdings CEO joins Capital Square
Drew Jackson, former president and CEO of Michigan-based Concorde Holdings, has joined Glen Allen-based real estate company Capital Square as senior managing director of private wealth solutions, the firm announced Tuesday. Jackson also joined the executive management team. A Radford University graduate, Jackson has more than 25[...]
Historic Richmond apartment building sells for $5.25M
A 32-unit apartment building in Richmond sold for more than $5.52 million on Jan. 16, according to city property records. Located at 3003 Parkwood Ave., The Parkwood was listed on the National Register of Historic Places in 2016. Built in 1941 and designed by well-known Richmond architects J. Binford Walford and O. Pendleton Wri[...]
Northrop Grumman breaks ground on $200M Waynesboro facility
Falls Church-based Fortune 500 defense contractor Northrop Grumman broke ground Friday on its $200 million-plus facility in Waynesboro. Gov. Glenn Youngkin announced the planned facility, which will hold advanced electronics manufacturing and testing, in November 2023. Northrop Grumman anticipates creating an estimated 300 jobs [...]
Franklin apartments sell for $18M
A 244-unit apartment community in Franklin sold for $18 million on Dec. 28, 2023, according to a news release from S.L. Nusbaum Realty. Located at 201 Forest Pine Road, the Forest Pine Apartments have traditional and garden-style one-, two- and three-bedroom units. The 23.27-acre property has a community swimming pool and playgr[...]
House of cards
Working as a mortgage lender in Roanoke for the past 18 years, Jason Bialek experienced everything from the financial crash of 2008 to the historic spike in home sales during the COVID-19 pandemic. Following that bonanza in 2020, though, Bialek and others in the residential real estate industry will probably look back at this pe[...]
Buc-ee’s starts construction on Rockingham center
It won’t be too long before drivers on Interstate 81 in Rockingham County will see a sign bearing a friendly, hat-wearing beaver. Texas-based travel center chain Buc-ee’s started construction on its first travel center in Virginia with a ceremonial groundbreaking Tuesday. Gov. Glenn Youngkin was there, as well as Buc[...]
Home sales slowed in 2023 and in final month of year
Home sales in Virginia dropped 20% last year, compared with 2022, and were the lowest the market had seen since 2014, according to new data released Tuesday by Virginia Realtors. Across Virginia, 98,464 homes sold in 2023, which is 24,780 fewer than the number of sales in 2022. Nine out of every 10 counties and […]
Apartments in Orange sell for $1.9M
A 48-unit apartment community in the Town of Orange has changed hands, according to One South Commercial. Belleview Apartments LLC purchased a 40,111-square-foot property with 48 units for $1.9 million from Belleview LLP. The apartments are located at 222-224 Bellevue Ave. in Orange. According to town property records, the prope[...]
