Please ensure Javascript is enabled for purposes of website accessibility

Real Estate

A man speaks in front of a dump truck.
Jul 1, 2024

Work begins on Stafford County industrial park

NorthPoint Development, a real estate operating company based in Kansas City, Missouri, broke ground in Stafford County on Tuesday on what’s being touted as the largest industrial park project along Interstate 95 from Washington, D.C., to Richmond.  The Austin Ridge Logistics Center on Austin Ridge Drive in Stafford will incl[...]

A chart illustrates the Median Home Price in May in multiple years
Jun 28, 2024

Va. housing market gave mixed signals in May

Virginia’s housing market gave off mixed signals in May. Closings were higher than last year, but pending sales were flat, according to Virginia Realtors data released June 25. In May, 10,715 homes sold in Virginia, up 423 sales or just over 4% from the same month last year. “While sales activity has outpaced last year [&hel[...]

2001 Bellwood Road in Chesterfield County. Photo courtesy Cushman & Wakefield | Thalhimer
Jun 21, 2024

Chesterfield County industrial properties sell for $9.85M

An industrial warehouse and about 11.6 adjoining acres in Chesterfield County were sold for $9.85 million, Cushman & Wakefield | Thalhimer announced earlier in June. According to county property records, 2001 Bellwood Road LLC purchased an 85,549-square-foot warehouse at 2001 and 1911 Bellwood Road and an additional 11.6 acr[...]

A rendering of the south entrance of 2011 Crystal Drive in Arlington. Rendering courtesy JBG Smith
Jun 21, 2024

Arlington County office building to get $40M makeover

JBG Smith has started construction on a $40 million renovation project for an 11-floor commercial building in Arlington County, the Bethesda, Maryland-based developer announced Tuesday. The company plans to make the 444,916-square-foot building, built in 1985, at 2011 Crystal Drive into an office building and “amenity hub.” [...]

The Park Crescent apartment community in Norfolk. Photo courtesy Croatan Investments
Jun 14, 2024

400-unit apartment complex sells for $84M in Norfolk

A 400-unit apartment community in Norfolk sold for $84 million, according to a late May news release from Croatan Investments. Originally built in 1991, the garden-style apartment community, Park Crescent, had 454,735 rentable square feet at the time of sale, according to Croatan. FPA Multifamily purchased the property from a jo[...]

The Bee. Photo by Brett Winter Lemon Photography
Jun 14, 2024

Retro Hospitality adds three hotels to portfolio

Richmond-based boutique hotel advisory and management firm Retro Hospitality has added three Virginia hotels to its portfolio, the firm announced Wednesday. The company now operates The Bee and The Holbrook Hotel in Danville and The Lofts at Downtown Salem in Salem. Other hotels in its portfolio include the Blackburn Inn and Con[...]

May 2024 statistics for the Hampton Roads housing market. Image courtesy Real Estate Information Network
Jun 14, 2024

Hampton Roads home sales steady, inventory rises in May

Hampton Roads home sales in May remained steady year-over-year, but inventory climbed, breaching 4,000 homes for sale, according to Real Estate Information Network (REIN) data released Monday. Last month, 2,498 homes sold in Hampton Roads, up from 2,189 in April and equal to homes sold in May 2023. Pending sales totaled 2,546, d[...]

Logo
Jun 14, 2024

Lester Group acquires Williamsburg building supply company

The Lester Group, a Martinsville-based company with a diverse portfolio including lumber products and real estate development, acquired Williamsburg-based Custom Builder Supply on June 3, the company announced earlier in June. Lester Group CEO Jay Dickens declined to release financial terms of the deal. Randy Cooper founded Cust[...]

Four individuals stand on a dirt field.
Jun 7, 2024

Developers break ground on rent-restricted, solar-powered apartments

Developers broke ground May 30 on the The Helios, a $54 million, rent-restricted, solar-powered apartment building in Henrico County, according to an announcement by Bank of America, which is financing construction. A joint venture between Spy Rock Real Estate Group and Crescent Development, both based in Richmond, the apartment[...]

Jun 3, 2024

Fed’s Fifth District shows modest economic growth

The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew modestly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released May 29. Published eight times per year, the Beige Book is based[...]

Jun 3, 2024

Co-founder steps down from Franklin Johnston Group

Tom Johnston has stepped down from The Franklin Johnston Group, the Virginia Beach-based multifamily development and management company he co-founded, the company announced May 30. Johnston is leaving to pursue other business opportunities, a release stated. Johnston, Wendell Franklin and his son W. Taylor Franklin as well as Steve Cooper left S.L. Nusbaum Realty in […]

John Chandler. Photo courtesy Berkshire Hathaway HomeServices HomeServices RW Towne Realty.
May 31, 2024

Norfolk property management firm promotes president, principal broker

John Chandler has been promoted to president and principal broker of Berkshire Hathaway HomeServices RW Towne Property Management, the Norfolk-based real estate firm announced Wednesday. Chandler was previously director of facilities and compliance for Berkshire Hathaway HomeServices RW Towne Realty and chief operating officer o[...]

YOUR NEWS.
YOUR INBOX.
DAILY.

By subscribing you agree to our Privacy Policy.