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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[...]
Colliers names new regional manager for Va., Raleigh brokerage
Colliers has named a new regional operations manager for its Virginia and Raleigh, North Carolina, offices, the commercial real estate company announced this week. Kristina Rodriguez, who will be based in Norfolk, will oversee the Colliers Virginia offices in Charlottesville, Fredericksburg, Richmond and Norfolk, along with the [...]
Multifamily residences sell in Suffolk, Norfolk
An apartment complex in Norfolk and a townhouse community in Suffolk both sold this week, Colliers Virginia announced Friday. Beamons Mill Townhomes, at 224 Beamons Mill Trail in Suffolk, was sold by Outlier Realty Capital to The Apartment Gallery for $9.15 million. The 55-unit townhome community was built in the early 2000s. Ea[...]
NoVa office space market improves after pandemic disruption
The Northern Virginia office real estate market showed improvement in leasing activity and occupancy loss in the third quarter, following four quarters of disrupted activity, according to a report released by commercial real estate services and investment firm CBRE Group Inc. this week. Gross leasing activity held steady from th[...]
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 [...]
