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Sadler Square subdivision in Glen Allen to start sales in 2024
Construction on Sadler Square, a 128-home development in Glen Allen will begin this year, with homes ready for sale in 2024, Vienna-based real estate developer Miller & Smith announced mid-February. The 54-acre development is located at 4350 Glasgow Road near the Short Pump/Innsbrook Interstate 64 interchange on West Broad S[...]
Thalhimer rebrands property management division
Cushman & Wakefield | Thalhimer is rebranding its residential property management division from Residential Property Services to Thalhimer Multifamily (TMF), the real estate firm announced Thursday. TMF is Thalhimer’s largest operating group, employing more than 200 people and managing more than 9,100 multifamily units[...]
Midlothian luxury apartment complex begins construction
Bainbridge Cos. has started construction in Chesterfield County on the 310-unit Bainbridge Midlothian luxury apartment complex, the Florida-based multifamily real estate company announced in mid-February. Bainbridge estimates the approximately 26.3-acre project at 12400 Dutton Road will be complete next summer. Units will range [...]
Newport News warehouse sells for $2.65M
A warehouse in Newport News sold for $2.65 million, Cushman & Wakefield | Thalhimer announced Wednesday. Located at 1011 and 1031 44th St., the 30,000-square-foot industrial building sits on 3.55 acres. The land is currently being used for a wholesale distribution facility, according to Newport News property records. Three t[...]
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 [&hell[...]
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-un[...]
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. […]
