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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[...]
Home improvement
Affordable housing isn’t the first thing that comes to mind when you think of the University of Virginia. But it’s top of mind for U.Va. officials who have pledged to support the development of 1,000 to 1,500 affordable housing units in Charlottesville and Albemarle County over the next decade. To jump-start the effort, U.Va[...]
Breeden breaks ground on Richmond apartments
The Breeden Co. has broken ground on a $21 million expansion at The Village at Westlake Apartments in Richmond, the Virginia Beach-based real estate development and management company announced Wednesday. The complex currently has 252 units across 12 buildings. The expansion will include five buildings with 120 two- and three-be[...]
Campbell County apartments sell for $4.3M
Moss Creek Apartments in the Campbell County community of Forest has been sold for $4.3 million, Cushman & Wakefield | Thalhimer announced earlier in May. The property includes 15 quad buildings built in 1984 and 60 two-bedroom apartments. Heights Properties LLC acquired the property from Moss Creek Apartments LLC on May 3 a[...]
Retail, self-storage property sells in Frederick
A retail building and self-storage facility in Frederick County have been sold for just under $4 million, Cushman & Wakefield | Thalhimer announced earlier in May. Frederick Pike Holdings LLC purchased the 21,322-square-foot retail building and 27,000-square-foot self-storage facility from Winchester Capital Group Inc. as an investment for $3,943,700. The properties are located at 118 […][...]
