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Rising interest rates not enough to deter homebuyers
Even the Federal Reserve hiking interest rates likely won’t be enough to cool down the hot real estate market in Virginia, experts say. In an attempt to slow the highest inflation rates in 40 years, Fed officials voted on March 16 to raise the benchmark federal funds rate by a quarter percentage point to a […]
Fairfax County developer John ‘Til’ Hazel Jr. dies at age 91
John T. “Til” Hazel Jr., a major force behind the development of Tysons Corner and several planned communities in Fairfax County in the late 20th century, as well as a significant booster of George Mason University, died Wednesday at age 91. An Arlington native, Hazel was also an attorney and graduated from Harvard University and […]
Würth Revcar to relocate corporate HQ to Roanoke County
A global company with ties to Roanoke going back decades is opening its new corporate headquarters and East Coast distribution center in Roanoke County. Würth Revcar Fasteners Inc., a Würth Industry North America company and part of the worldwide Würth Group based in Germany, will make Roanoke County its headquarters and open[...]
$42M tennis campus planned for Loudoun County
Loudoun County will soon be a new hub for American tennis. The United States Tennis Association Mid-Atlantic Section (USTA MAS) announced plans Thursday to build a 36-court, $42 million tennis campus in Loudoun County. And when the campus is complete in 2025, the nonprofit tennis organization, which is currently based in Herndon[...]
Norfolk distribution center to create 200 jobs
A Massachusetts-based logistics services company plans to build a distribution and fulfillment center in Norfolk expected to produce 200 jobs, RoadOne IntermodaLogistics announced Tuesday. The company did not disclose the cost of the 340,000-square-foot facility, which will be six miles from the Port of Virginia’s terminal[...]
SMO Inc. acquires six Va. gas stations, convenience stores
The Wills Group, a La Plata, Maryland-based commercial real estate company, announced Wednesday that its subsidiary SMO Inc. has acquired six MAPCO gas stations and convenience stores in Virginia. The stores and gas stations are in Ashland and Chesterfield, Prince George, Stafford, Fauquier and Dinwiddie counties. The price of the acquisition was not disclosed. The […]
UNIS to add nearly 1M square feet near Port of Virginia
California-based third-party logistics company UNIS LLC plans to open two sites near the Port of Virginia next year, comprising nearly 1 million square feet. Industrial Realty Group LLC, which will construct the buildings, announced the project last week. It includes a 910,000-square-foot high volume, cross dock terminal in Suffolk and a 72,000-square-foot transload facility in […]
Williamsburg hotel sells for $4.47M
A former Park Inn by Radisson hotel in Williamsburg has been sold for $4.47 million, Cushman & Wakefield | Thalhimer announced Thursday. The 122-room hotel, located at 2007 Richmond Road, was purchased by The Tapestry Group Inc. in partnership with SBG Richmond Road LLC from SHNI Corp. as an IRS Section 170 bargain sale tran[...]
Fresh Market property in Chesterfield sells for $6.9M
The Fresh Market grocery store property in Chesterfield County near Midlothian has sold for $6.9 million, Colliers announced Monday. The 31,394-square-foot property was acquired from the California-based seller, 1200 Huguenot Road LLC, by California-based 101 North A ST LLC. It is located at the intersection of Midlothian Turnpi[...]
Camping World property in Hanover sells for $19.4M
The property where Camping World is located in Hanover County has been sold for $19.4 million, Colliers announced Monday. Camping World is at 11525 Sunshade Lane on 30.16 acres with 1,650 feet of Interstate 95 frontage, south of the town of Ashland. It serves as the company’s East Coast flagship location. EMAC LLC bought t[...]
Kicking the can
In April 2020, Savan Group LLC, a federal contractor specializing in digital transformation, information technology and management consulting, gave up its 10,500-square-foot office space in Tysons. Like many other companies, Savan Group shifted to remote work due to the COVID-19 pandemic, but by summer 2021, company President an[...]
Jan. Va. home inventory was at all-time-low
Virginia’s housing market set another record in January, hitting an all-time-low of inventory, according to a new report released by Virginia Realtors this week. At the end of last month, there were 12,203 total active listings, which is 4,478 fewer than this time in 2021, a drop of nearly 27%, according to the industry gr[...]
