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Sturtevant to leave Virginia Realtors for Bright MLS
Lisa Sturtevant, chief economist for Glen Allen-based Virginia Realtors, will join Bright MLS in May, Virginia Realtors announced earlier this month. Sturtevant has served as chief economist for the statewide Realtor organization since January 2020 and will continue consulting when she begins her new role. Rockville, Maryland-ba[...]
Va. construction contractor upsizes Roanoke office
Chesterfield County-based commercial and industrial contractor Atlantic Constructors Inc.’s Roanoke team moved this month into a renovated building double the size of its previous office and shop/warehouse space. The building at 1302 Rockland Ave. NW is 32,000 square feet. Property records show that ACI Suffolk LLC purchased t[...]
Norfolk mobile home parks sell for $9.75M, $6.4M
Two mobile home parks in Norfolk have sold, one for $9.75 million and one for $6.4 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Thursday. Located at 6659 E. Virginia Beach Blvd., Smitty’s Mobile Home Park consists of 136 pad sites on about 12.3 acres. Bonaventure bought the property from Hen[...]
Capital Square acquires Williamsburg apartments for $70M
Henrico-based real estate investment firm Capital Square has acquired a 207-unit apartment complex in Williamsburg, the company announced April 12. Capital Square acquired Sterling Manor, a five-building luxury apartment complex with townhomes and garden-style apartments, from Chaucer Creek Capital for $70 million, a company spo[...]
Capital Square names CFO
Henrico-based real estate investment company Capital Square has named Donna Sperounis as its chief financial officer, the company announced Wednesday. Sperounis has 22 years of real estate experience and joins Capital Square from Dakota Partners, where she was chief financial officer and chief operating officer. While there, she increased cashflow by 50%, maximized tax incentives […]
Henrico shopping center sells for $13M
Gold’s Gym Plaza in Henrico County has sold for $13 million. The 124,275-square-foot shopping center at 8900 W. Broad St. has five buildings of retail and is 100% leased. Anchors Regal Cinemas and Gold’s Gym have occupied space at the property for 40 and 19 years, respectively. Charlottesville-based Seminole Trail Annex LLC bought the property […]
Bon Secours medical center in Chesterfield County to expand
Bon Secours St. Francis Medical Center in Chesterfield County, near Midlothian, will undergo a $108 million renovation and expansion and Skanska USA will do the work on it. The construction will include renovations to existing spaces and adding two floors above the existing surgical department on the second floor, according to S[...]
Metro releases 10-year strategic plan for development
The Washington Metropolitan Area Transit Authority, which runs Metrorail and Metrobus, released its first-ever strategic plan for joint development on Thursday, announcing an ambitious initiative to bring in 26,000 new housing units in Virginia, Maryland and Washington, D.C. The document says that 40 Metro stations — including[...]
Va. Beach shopping center sells for $8.5M
A shopping center near Lynnhaven Mall in Virginia Beach has sold for $8.5 million. The Lynnhaven East and North Mall Shops, at 2701 and 2704 N. Mall Drive, have been sold by Rialto Capital Partners, but the buyer has not been disclosed, according to Colliers. The property has 106,524 square feet and more than 96,000 […]
Pembroke Mall to get makeover
Hanging out at the mall may soon take on new meaning in Virginia Beach. Within a few years, Pembroke Mall could be home to thousands of apartment dwellers as part of a $200 million makeover of the vintage 54-acre retail property announced in November 2021. “All we’re doing is changing with what the customer desires,” [&hel[...]
Richmond casino sites are up for grabs
With a future casino at least temporarily off the table in Richmond, two of the three land parcels that hopeful developers had been eyeing as future casino sites are back on the market, while the third will remain a movie theater. In spring 2021, city officials selected Urban One Inc.’s proposal to build a $565 […]
Remembering John T. ‘Til’ Hazel Jr.: 1930-2022
John T. “Til” Hazel Jr., a major force behind the development of Tysons Corner and several Fairfax County planned communities, died March 16 at age 91. An Arlington native, Hazel also was an attorney who graduated from Harvard University and Harvard Law School. In the 1950s, Hazel began promoting commercial and residential g[...]
