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Va. Beach post office building sells for $5M
A 29,813-square-foot property leased to the U.S. Post Office in Virginia Beach has been sold for $5 million. U.S. Post Office Acredale-Annex at 1700 Centerville Turnpike was built in 2000 and was sold by Faith Irrevocable Trust to Postal Realty Trust. The property is on a 25-year net-leased structure with the tenant. Michael J. [...]
Winmar Construction moves HQ to Reston
Winmar Construction has moved its corporate headquarters from Washington, D.C., to Reston, signing a 7,000-square-foot lease at 2100 Reston Center Parkway. The general contractor has 40 employees in the seven-story building in Reston but will still have a presence in Washington, D.C., at 1010 Wisconsin Ave. The company also has [...]
Amazon closes $198M PenPlace purchase from JBG Smith
Amazon.com Inc. has acquired the 11-acre PenPlace development site, part of its HQ2, its East Coast headquarters, from Bethesda, Maryland-based JBG Smith Properties for $198 million, JBG Smith announced Monday. Arlington County in April approved the 3.3 million square feet of office space spread across three 22-story buildings[...]
CBRE moving NoVa office to The Boro in Tysons
CBRE Group Inc. has signed a lease for 24,108 square feet at The Boro tower in Tysons, the firm announced June 1. In the first quarter of 2023, CBRE will move its Northern Virginia office from International Drive in Tysons to occupy the entire 11th floor of The Boro, at 8350 Broad St. The new […]
Henrico assisted living facility to become affordable housing
Construction started this week on a $23 million project that will create 86 units of affordable housing in eastern Henrico County, Virginia Supportive Housing announced. Formerly an assisted living facility, Cool Lanes Commons, on the border of Richmond and Henrico, will create 80 one-bedroom apartments and six studio apartments[...]
Colonial Williamsburg Foundation hires real estate VP
The Colonial Williamsburg Foundation has hired Diane E. Branch as vice president of real estate, the foundation announced Friday. Branch will manage a portfolio of nearly 400 parcels, which is more than 1,900 acres of developed and undeveloped land in the city of Williamsburg and James City and York counties. She begins her new [...]
AeroFarms sells its Cane Creek property
AeroFarms has sold its 138,670-square-foot property in Cane Creek Centre to MDH Partners and leased it back for 20 years, the companies announced June 1. MDH Partners bought the property at 1526 Cane Creek Parkway for $19.1 million and leased it back to AeroFarms. The industrial park where AeroFarms is located is jointly owned b[...]
Richmond office building sells for $4.9M
A 13,288-square-foot office building in Richmond sold for $4.9 million, One South Commercial announced Thursday. Located at 4015 Fitzhugh Ave., the two-story building was built in 1954. The architecture firm 3North leases the building, which used to serve as the Boy Scouts of America headquarters. VA Wood Properties LLC bought t[...]
Mixed-use Richmond building sells for $5.7M
A mixed-use building in Richmond sold for almost $5.73 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Located at 1508 through 1510 W. Broad St., the 1510 Lofts has 10,600 square feet of retail and 17 one- and two-bedroom apartments that are 100% leased. Foot Locker leases 44% of the gro[...]
Henrico office, warehouse building sells for $12.4M
A flexible property with warehouse and lab buildouts in Henrico County sold for $12.4 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Located at 8040 Villa Park Drive in the Villa Park Business Park, Villa Park I is a 74,862-square-foot property. The property was 94% leased at the time o[...]
Hilton coming to Pembroke development in Va. Beach
As part of the $200 million redevelopment of Virginia Beach’s Pembroke Mall, Landmark Development Hotel Group will partner with Pembroke Square Associates LLC to bring a Tempo/Homewood Suites by Hilton hotel to the project. The 14-story hotel will be one of the first Tempo by Hilton hotels, which feature “wellness ro[...]
Carver Station to bring food hall, coworking space to RVA
Future Cities, the development firm behind the anticipated GreenCity development in Henrico County, has plans to renovate a historic substation in the Carver neighborhood of Richmond and turn it into a mixed-use development with a food hall, coworking space and micro retail. Carver Station, which will be located near Clay and Ha[...]
