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Apartment buildings in Petersburg sell for $9.4M
The High Street Lofts in Petersburg sold for $9.4 million, Colliers | Virginia announced Wednesday. Located at 420, 422 and 526 High St., the lofts have an estimated 75,650 square feet of rentable space, and the 69 units are all occupied. Originally constructed as the Seward Luggage and Trunk Co.’s factory, the properties were[...]
Richmond marketing Diamond property for redevelopment
The city of Richmond announced Monday it is marketing the 66.7-acre Diamond baseball stadium property as an area for redevelopment, which likely would include a new stadium for the Richmond Flying Squirrels baseball team. A new website will be launched soon, preceding a “request for interest” released before the end [...]
65 acres in Greene County sell for $4.55M
Sixty-five acres in Ruckersville, in Greene County, sold for $4.55 million, Cushman & Wakefield | Thalhimer announced Monday. Merrit Greene LLC bought the acreage, located at 7070 Seminole Trail, from LAMM Properties LLC for future mixed-use development. John Pritzlaff and Jenny Stoner with Cushman & Wakefield | Thalhime[...]
Commercial real estate lease roundup
Hampton Roads Central Virginia Northern Virginia Hampton Roads Crossfire Logistics Inc. leased 61,700 square feet of industrial space at 5601 City Line Road in Newport News. Clay Culbreth of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord. LaserShip leased 46,100 square feet of industrial space at 5465 Greenwich […]
Cushman & Wakefield acquires Thalhimer’s S.C. operations
Chicago-based real estate firm Cushman & Wakefield announced last week that it had acquired the South Carolina operations of its alliance member, Glen Allen-based Morton G. Thalhimer Inc. The acquisition includes three offices located in Charleston, Greenville and Columbia. Financial details of the transaction were not disclosed. “We are thrilled to have Thalhimer’s South Carolina […][...]
Developer breaks ground on 20-story apartment building in Arlington
Greystar broke ground Wednesday on The Commodore, a 20-story building with 423 apartments in Arlington. Located at 2025 15th St. N. in the Courthouse neighborhood, the building has an expected completion of fall 2023. The ground level will have almost 18,000 square feet of retail space, and the development will have varying apar[...]
The Branch Group moving into former Roanoke Kroger division HQ
Construction company The Branch Group Inc. is relocating its corporate headquarters to a larger building within Roanoke, the company announced Monday. The company sold its current headquarters for $2.9 million in September. It has purchased the former Kroger Co. mid-Atlantic division’s headquarters, a 58,000-square-foot bu[...]
Henrico realty co. gains majority ownership of Ga. management company
Henrico County-based property development company McCann Realty Partners LLC now has a controlling interest in Georgia-based property management company Pegasus Residential LLC, the company announced last week. Financial details of the transaction were not disclosed. The two companies have been partners since Pegasus’ founding in 2009, McCann Realty Partners President and Managing Principal Matt Akin […][...]
250 acres on Richmond-Chesterfield border for sale at $79M
The director of Chesterfield County’s economic development office says a “major midtown development” could result from the sale of nearly 250 acres of undeveloped property in the county and the city of Richmond. The two pieces of land are now on the market for $30 million and $49 million, according to S.L. Nusb[...]
Recent real estate sales from around Virginia
Central Virginia A 26,500-square-foot office building in Henrico County has sold for $1.95 million, Cushman & Wakefield | Thalhimer announced. The building is located at 8921 Three Chopt Road and was 81% leased at the time of the sale. Porter Street Holdings LLC bought the building from 8921 Three Chopt LLC. The transaction was completed […]
Middleburg Communities names chief economist
Vienna-based real estate company Middleburg Communities has named Brad Case as chief economist and director of research, it announced Thursday. Case will provide analysis for buying, selling, developing and market focus tactical decisions. “Brad Case is one of the most respected economists in commercial real estate, and we are[...]
Five-building industrial portfolio sells for $9M
A five-building industrial portfolio with buildings in Harrisonburg, Chesterfield County, Newport News, Virginia Beach and Durham, North Carolina, sold for just over $9 million Thursday, Glen Allen-based commercial real estate firm Commonwealth Commercial Partners LLC (CCP) announced. ESAP LLC sold the portfolio to Drakadia Hold[...]
