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Real Estate

Dec 21, 2021

47 mixed-use parcels in Richmond sell for almost $22M

Seven bundles of properties totaling 47 parcels in Richmond sold for almost $22 million, Commonwealth Commercial Partners LLP announced last week. The mixed-use properties are located in Richmond’s Fan District and consist of retail, office and restaurant space, as well as about 24 apartments and 267 parking spaces. Richmond-b[...]

Dec 21, 2021

Virginia Beach, Manassas apartment complexes sell for $77.6M

An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, [...]

Dec 17, 2021

The Meridian Group buys 277 acres in Winchester for industrial park

Bethesda, Maryland-based real estate investment firm The Meridian Group has purchased 277 acres of land in Winchester along Insterstate 81 and has plans to develop an industrial park on it. The purchase price of the land was not disclosed and is not yet available from public land records. The Meridian Group acquired the propert[...]

Dec 17, 2021

Chesterfield’s Meadowbrook Plaza sells for $16M

Chesterfield’s Meadowbrook Plaza shopping center on Hopkins Road has been sold for $16 million, Colliers International announced Thursday. The 16.77-acre strip mall was sold by Premier RE FUND V LLC to UG Necessity Retail Fund 2 LP, also known as Unite Growth. The shopping center has 45,129 square feet and recently underwe[...]

Dec 17, 2021

CoStar Group to open $460M campus in Richmond

Washington, D.C.-based CoStar Group Inc., a commercial real estate data and analytics provider, will build a $460 million corporate campus in Richmond, creating 2,000 jobs, Gov. Ralph Northam announced Friday. The new campus will include a 26-story, 510-foot, LEED-platinum-certified skyscraper that will be the tallest building i[...]

Dec 16, 2021

Northam proposes $150M for site readiness

When Mazda Toyota was looking to build a plant that would have brought 4,000 jobs and 1.6 billion in investment, Virginia was ruled out. Why? Because Virginia didn’t have a competitive project-ready site available. Huntsville, Alabama, landed the deal instead.  Since 2016, Virginia has lost out on 42,000 direct jobs and [...]

Dec 16, 2021

Winchester industrial property sells for $12.2M

A 244,500-square-foot industrial property in Winchester sold for $12.2 million, Marcus & Milichap announced Wednesday. The property is located at 310 Tyson Drive and was sold by Harrisonburg-based InterChange Group Inc. to Washington, D.C.-based Ritz Banc Group. Christopher C. Dale, Robert Filley and Randall Heilig, with Mar[...]

Dec 13, 2021

Amazon provides $21M to create real estate developers of color program

Amazon.com Inc. announced Wednesday a $21 million grant to create a professional training, mentorship and capital funding program for real estate developers of color focused on affordable housing. “With this accelerator program, we are laser focused on lifting up emerging real estate developers of color. We want to foster thei[...]

Dec 13, 2021

Commercial real estate leasing roundup

Hampton Roads Daliza’s Dominican Beauty Salon leased 1,200 square feet of retail space at 980 J. Clyde Morris Blvd. in Newport News. Bob Saunders of Harvey Lindsay Commercial Real Estate handled this transaction.  Audio Pros Inc. renewed its lease of 3,47 square feet of retail space at 894 East Little Creek Road in Norfolk. Kimberly […]

Dec 10, 2021

Construction begins on Rivers Casino Portsmouth

Chicago-based developer and gaming operator Rush Street Gaming broke ground Tuesday on Rivers Casino Portsmouth, kicking off construction of the $300 million casino and entertainment complex. Located off Victory Boulevard, the complex will have a casino, BetRivers sportsbook, restaurants, a live entertainment lounge, hotel and e[...]

Dec 10, 2021

Colonial Heights shopping center sells for $26.25M

Colonial Square, a Publix-anchored shopping center in Colonial Heights, sold for $26.25 million, JLL announced Thursday. Colonial Square Associates – A Berman Kappler Property sold the shopping center to United Hampshire US REIT. The shopping center is 168,326 square feet and is 99% leased. It was constructed in 1967 and u[...]

Dec 10, 2021

KBS sells Fairfax office park for $106M

KBS has sold Willow Oaks Corporate Center in Fairfax County’s Merrifield area to Utah-based Bridge Investment Group for $106 million, Newport Beach, California-based KBS announced Thursday. The 584,147-square-foot Class A office park was built in three phases in 1986, 1989 and 2003. It includes three buildings located near[...]

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