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It’s a seller’s world
Sandra Hood finally went on a much-needed vacation in mid-August. Even so, Hood, the managing broker of Coldwell Banker Traditions in Newport News and president of the Virginia Peninsula Association of Realtors, took advantage of a rainy morning at the beach to open her laptop and get some work done. “It’s the most difficult[...]
Commercial realty: Demand remains high
Read our residential real estate story. Trends are also pointing in a mostly positive direction for the region’s industrial, commercial and retail real estate markets, according to Ed Kimple, a senior vice president with Cushman & Wakefield | Thalhimer. Office vacancy rates were at 9.2% for the second quarter, an increase [...]
Under construction
Hampton Roads Bridge-Tunnel Hampton and Norfolk In October 2020, crews broke ground on the state’s largest-ever infrastructure project: the expansion of the Hampton Roads Bridge-Tunnel, which is expected to be completed in 2025. Much of the work will not be visible to drivers because it will be taking place underwater, as a ma[...]
DXC moves HQ to Ashburn, shifts to ‘virtual first’
Fortune 500 IT services company DXC Technology is leaving Tysons for a smaller headquarters in Ashburn in November, the company announced this week. DXC’s new 10,000-square-foot building is located at One Loudoun in Ashburn. The new corporate headquarters will reflect the shift to a virtual-first mentality. Employees can w[...]
Chesterfield hires director of real estate assessments
Chesterfield County has hired Melvin Bloomfield to be its director of real estate assessments. Bloomfield has been Richmond’s deputy director of real estate assessments for the past seven years. He begins his new role Oct. 4. “We are ecstatic to have Mel joining the Chesterfield family. He brings a wealth of expertise and experience that […]
1.9M-square-foot industrial park being built in Stafford
The Fairfax-based Peterson Cos. is building a 1.9 million-square-foot development in a 270-acre industrial park in Stafford County, and JLL will oversee the leasing, the companies announced Friday. Northern Virginia Gateway, which is expected to be built out within a year, is on Centreport Parkway, off Interstate 95. “Peterson[...]
Home sales, price growth to slow in 2022 after rapid 2021 rises
Virginia home sales in 2022 will be down by about a tenth of a percent compared to 2021 sales, according to a forecast report released Friday by Virginia Realtors. In 2021, the report projects a total of about 148,600 home sales in Virginia, up 6.2% from 2020. “While home sales activity in 2021 will surpass […]
Six Staunton apartment properties sell for $6.3M
Staunton Portfolio LLC has purchased a six-property multifamily portfolio, which includes 88 apartments for $6.3 million, Cushman & Wakefield | Thalhimer announced Wednesday. The portfolio was sold with assumable long-term fixed-rate debt in place. The seller was LSK Properties LLC. The properties are located in Staunton at [...]
Charleston developer breaks ground on mixed-use building in Richmond
Charleston, South Carolina-based real estate development company The Beach Co. announced Tuesday that it had broken ground on a 1.65-acre mixed-use development in Richmond called Tidewater, which has an expected completion of spring 2023. Located in the Manchester neighborhood at 700 Semmes Ave., the six-story development will h[...]
The Lawson Cos. hires first talent and development manager
Virginia Beach-based property management firm The Lawson Cos. hired Brandi Hall as its first talent and development manager, it announced Tuesday. Hall is responsible for hiring and training Lawson employees as well as retaining them. She has 16 years of experience in human resource roles and was most recently the human resource[...]
Louisa, Caroline mobile home parks sell for $3.7M
Six-0-Five Village Mobile Home Park in Louisa and The Hill Mobile Home Park in Bowling Green sold for $3.7 million. HOA LLC purchased the mobile home park at 1 Zarin Avenue off Route 522 and Route 33. and the 12-acre The Hill Mobile Home Park on S. Main Street from Six-0-Five Mobile Home Group LLC. […]
28 acres in Chesterfield sells for $4.233M
About 28 acres of land in Chesterfield County sold for $4.233 million on Sept. 16, Cushman & Wakefield | Thalhimer announced Thursday. The land is located at Hull Street Road and Route 288. Rebkee Partners and affiliates purchased the acreage from 360 Capital Partners. David M. Smith of Cushman & Wakefield | Thalhimer re[...]
