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Largest industrial building in Richmond market holds groundbreaking
A massive 846,260 square-foot spec industrial facility under construction in southern Chesterfield County is expected to be ready for delivery before the end of the year. New York-based real estate developer PNK Group began construction on the building at 1640 Ashton Park Drive during the first quarter of this year and hosted a [...]
Spotsylvania industrial portfolio sells for $38M
An entity sharing an address with the Pinkard Group, a Washington, D.C., regional real estate investment and development company, has purchased four light industrial and warehouse buildings in Spotsylvania County for $38 million, according to Cushman & Wakefield | Thalhimer. Located in Four Mile Fork Industrial Park, the cou[...]
Average US rate on a 30-year mortgage climbs to 6.83%, highest level since late February
The average rate on a 30-year mortgage in the U.S. climbed to its highest level in eight weeks, a setback for home shoppers in the midst of the spring homebuying season. The rate rose to 6.83% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.1%. Borrowing costs […]
HNTB to move Arlington office in 2026
Kansas City, Missouri-based infrastructure and design firm HNTB will relocate its Arlington County office in 2026 to a more expansive space that will increase its footprint by 13,000 square feet. The company says the goal of the move from its current location at Shirlington Tower to 1812 North Moore, the tallest building in the [...]
Campbell breaks ground on $11M shell building
U.S. Rep. John McGuire, R-Goochland, and other officials attended a groundbreaking Tuesday for a 100,000-square-foot industrial building that will be built at Seneca Commerce Park in Rustburg. An $11 million project, the building is the largest initiative undertaken by Campbell County’s Economic Development Department in o[...]
Developer withdraws unpopular Pittsylvania data centers proposal
After months of Pittsylvania County residents and business owners speaking against an $8.85 billion data center campus and natural gas power plant proposed for land along Chalk Level Road, the developer announced Monday that it has withdrawn its rezoning application “The company is now evaluating alternative development option[...]
$30M Chesapeake Square Mall redevelopment underway
Demolition began last week on sections of Chesapeake Square Mall as part of a $30 million redevelopment project of the 36-year-old indoor mall off Interstate 664 in Chesapeake. Stores are still open at the mall while Virginia Beach-based real estate development firm Kotarides is demolishing the former Burlington Coat Factory Spa[...]
Average US rate on a 30-year mortgage falls to 6.62%, easing for the third week in a row
The average rate on a 30-year mortgage in the U.S. declined for the third week in a row, another positive move for prospective homebuyers during what’s traditionally the housing market’s busy season. The rate fell to 6.62% from 6.64% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6[...]
CoStar shakes up board of directors
Arlington County-based real estate data and analytics company CoStar Group is making major changes to its board of directors and launching a committee to scrutinize its finances as part of an agreement it entered with New York hedge funds D. E. Shaw group and Third Point. As part of the terms of the agreement, which […]
Average US rate on a 30-year mortgage dips to 6.64% for the second drop in 2 weeks
The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season. The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the […]
Wawa plans massive expansion in western Virginia
Pennsylvania-based convenience store chain Wawa plans to massively expand in the western side of Virginia, potentially investing $450 million and opening 60 stores along Interstate 81 within the next decade. This week, Wawa held groundbreaking events to celebrate the official start of construction on a store in Lynchburg at 1403[...]
Danville-Pittsylvania authority invests in history
Using a $1.89 million loan from the Virginia Small Business Financing Authority, Danville and Pittsylvania County officials plan to purchase about 289 acres adjacent to the Southern Virginia Megasite at Berry Hill. Members of the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) unanimously agreed in January to[...]
