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Norfolk apartment community sells for $12.4M
Cleghorn Capital purchased a 104-unit apartment community in Norfolk from Israeli investment fund Valore for $12.8 million, Marcus & Millichap announced July 7. Valore at Southern Park, located at 7922 Old Ocean View Road, has three buildings, each with two stories, and was built in 1964 and renovated in 1999. The 104,944-sq[...]
Silver lining
As the long-delayed phase two opening of Metro‘s Silver Line extension is set for later this year in western Fairfax and Loudoun counties, a development boom is following on the train’s wheels. Reston and Herndon, as well as eastern Loudoun, have already attracted big corporate tenants to millions of square feet of o[...]
Williamsburg apartments sell for $100M
Alexandria-based real estate company Bonaventure has sold The Bend Arbordale apartments in Williamsburg for $100 million. Bonaventure sold the 289-unit apartment complex to Illinois-based The Inland Real Estate Group, Bonventure announced Friday. Located at 401 Bulifants Blvd., the community has two- and three-bedroom apartments[...]
Roanoke business center sells for $6.8M
Century Business Center in Roanoke has sold for $6.8 million, Cushman & Wakefield | Thalhimer announced this week. ABMAR Century Business Center LLC, a regional investment group purchased the 52,306-square-foot multitenant flex-office building from Planta LLC. The property was 92% leased at the time of the sale. Price Gutsha[...]
Va. median home sales price breaches $400k for first time
The statewide median sales price for a home in May rose above $400,000 for the first time, according to the Virginia Realtors‘ May 2022 Virginia Home Sales Report. The median price was $401,082, up 8.7% and more than $32,000 from a year ago. In total, 13,048 homes sold in Virginia in May, an 8.5% decrease […]
Alexandria apartments sell for $50.1M
Baltimore-based Continental Realty Corp. has sold 101 North Ripley Apartments in Alexandria for $50.1 million, the company announced last week. Washington, D.C.-based real estate investment and management firm Willow Creek Partners acquired the apartment community, formerly known as Parkwood Court. The community has 189 units, w[...]
Capital Square promotes asset management execs
Henrico-based real estate investment firm Capital Square has promoted Chris Hirth to senior vice president of asset management and Jerad Nielsen to vice president of asset management, the company announced Tuesday. Hirth joined the firm in 2016 as an asset manager and is responsible for oversight of Capital Square’s portfo[...]
Lingerfelt sells Va. Beach hotel for $82M
Richmond-based commercial real estate investment firm Lingerfelt Commonwealth Partners LLC has sold the Delta Hotel by Marriott Virginia Beach Bayfront Suites for $82 million to New York-based Black Pearl Capital, Lingerfelt announced June 17. Lingerfelt Commonwealth Partners acquired the hotel in 2018 for $19 million and comple[...]
VCU buys former Va. ABC property for $16M
Virginia Commonwealth University on Friday purchased the former Virginia Alcoholic Beverage Control Authority’s former central office and warehouse at 2901 Hermitage Road in Richmond for approximately $16 million, according to Virginia ABC. The sale of the 292,285-square-foot warehouse was included in the state operating b[...]
ACI expands Hampton Roads footprint
Richmond-based Atlantic Constructors Inc. is expanding its presence in Hampton Roads with a new 39,000-square-foot facility in Suffolk and 75 new jobs, the company announced June 2. Previously, ACI had three small offices in Hampton Roads, and the company has consolidated two of them into a larger, more modern facility, a compan[...]
Blacksburg apartments sell for $4.75M
Ridgeview Apartments in Blacksburg have been sold for $4.75 million, Cushman & Wakefield | Thalhimer announced Thursday. The 96-unit community is located at 768 Triangle St. in Blacksburg. Ridgeview Apts. Land Trust sold the community to GFI Ridgeview LLC, which intends to renovate the units. Clay Taylor of Cushman & Wak[...]
The Breeden Co. names brand and development manager
The Breeden Co. has named Richard George its brand and development manager, the Virginia Beach company announced June 6. George will be responsible for maintaining brand integrity across all corporate and divisional marketing initiatives and communications, but will also oversee business functions including communication channel[...]
