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Developer plans 800K-square-foot industrial building in Suffolk
A Kansas-based industrial developer has purchased 72 acres in Suffolk for $4.1 million, with plans to construct an 813,721-square-foot logistics center by September 2022. Cushman & Wakefield | Thalhimer announced the sale Friday, in which Geoff Poston and Ellis Colthorpe handled negotiations on behalf of the seller, Equus Ca[...]
Virginia Beach office building sells for $2.5M
A commercial building at Virginia Beach’s Oceanfront sold for $2.5 million, S.L. Nusbaum Realty Co. announced Aug. 9. Located at 1705 Baltic Ave., the 4,038-square-foot former Davis Ad Agency building sits on nearly an acre. Safety & Security International Inc. purchased the property from Davis Seaside Properties LLC. [...]
Software firm to take over former Va. Beach Sears space
Decisions LLC, a provider of no-code, business process automation software, is moving its headquarters from Chesapeake to the former Sears building at Pembroke Mall in Virginia Beach, Cushman & Wakefield | Thalhimer announced this week. The company has leased 52,638-square-feet of office space at the shuttered department sto[...]
Hampton Roads reports continued seller’s market for homes
The Hampton Roads area was still seeing a tight market for homebuyers in July, according to the Real Estate Information Network Inc.’s latest report on the region. Compared to July 2020, there was a 17.13% decrease in active listings last month, along with higher prices. REIN, using the region’s Multiple Listing Serv[...]
NoVa housing forecast: Still tight for single-family homebuyers
In the Northern Virginia Association of Realtors’ mid-year forecast released Friday, a panel of real estate experts predict a continued tight market for single-family homes and higher residential prices in the second half of the year, but the market appears to be normalizing from last year’s heights. “This year, th[...]
Staunton senior community sells for $4.75M
A senior-living community with 62 one- and two-bedroom apartments in Staunton has sold for $4.75 million, Cushman & Wakefield | Thalhimer announced this week. Formerly a high school built in 1926, Gypsy Hill Place was converted to apartments and commercial space in 2009. Original developer Gypsy Hill Place LLC, represented b[...]
Scott’s Addition property sells for $10.8M in Richmond
A 53,392-square-foot mixed-use property in Richmond has sold for $10.8 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Friday. The 1.81-acre plot was sold by an entity co-managed by Richmond-based Fountainhead Development and Lynx Ventures. The building, on 1300 MacTavish Ave. in the Scott[...]
Powhatan shopping center sold for $4.3M
The Maxey Center, a shopping center in Powhatan County, has sold for $4.325 million, S.L. Nusbaum Realty Co. announced Friday. Ruffin Mill LLC, a local investor, purchased the property at 3452 Anderson Highway. The 17,235-square-foot, fully leased shopping center includes tenants Powhatan Medical Associates, Edward Jones, Angela[...]
Metro unveils major Falls Church redevelopment agreement
The Washington Metropolitan Area Transit Authority has signed an agreement to redevelop the West Falls Church Metro Station site as a more than 1 million-square-foot mixed-use development. Construction is expected to begin in 2023. The agreement was reached with FGCP-Metro LLC, a joint real estate development partnership involvi[...]
Roanoke accounting firm sells building for $2.27M
Roanoke accounting firm Brown Edwards has sold its building for $2.275 million, according to a news release. Brown Edwards, which is expanding into a larger space at a local office park, sold the building at 319 McClanahan Ave. to ETS Recruit, which places medical professionals in practices across the country. The accounting fir[...]
W.M. Jordan Co. hires business development manager
W.M. Jordan Co. has hired Erica Viola as the firm’s business development manager, the Newport News-based construction firm announced on Aug. 3. Viola will focus on seeking new business and building relationships across the Hampton Roads region, according to a news release from W.M. Jordan. The Maryland native previously wo[...]
Proposals for Norfolk’s Military Circle Mall redevelopment narrowed to 3
Three groups have submitted full proposals to the city of Norfolk to redevelop Military Circle Mall. In late 2020, Norfolk put out a call for developers to turn the struggling mall into a thriving mixed-use community. The city narrowed the list to four, but on Friday, just three proposals were released by the city, including [&h[...]
