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Fairfax real estate developer Milt Peterson dies
Real estate developer Milton V. Peterson, founder and chairman of the Fairfax-based Peterson Cos., died early Wednesday at his Fairfax County home at the age of 85. Peterson was known for developing major real estate projects across the Washington, D.C., metro area, including National Harbor in Prince George’s County, Mary[...]
Va. Beach industrial office park sold for $4.1M
Virginia Beach’s First Colonial office park has been sold for $4.14 million, Cushman & Wakefield | Thalhimer announced last week. The adjoining lots at 205-217 First Colonial Road make up 2.99 acres and include a 37,500-square-foot office/warehouse park. CP Roadrunners LLC purchased the property from Virginia-based Nos[...]
Wytheville apartments, storage facility sells for $4.2M
The Birchwood Apartments and AAA Self Storage properties in Wytheville have sold for $4.2 million, Cushman & Wakefield | Thalhimer’s Capital Market Groups announced last week. The May 14 transaction includes 60 apartments, 139 self-storage units and an 1,800-square-foot office building on adjoining parcels at 125-195 B[...]
Spotsylvania bank building sold for $1.1M
A former Atlantic Union Bank branch office in Spotsylvania County has sold for $1,145,000, Cushman & Wakefield | Thalhimer announced last week. The 3,229-square-foot building at 5831 Plank Road sits on .94 acres. Katy Land Holdings LLC, based in Texas, purchased the building. Will McGoogan, Jamie Scully, CCIM and Berkley Mit[...]
Virginia sees 12% increase in new listings in April
The state saw a 12% increase in new residential real estate listings since March, according to Virginia Realtors’ April 2021 Home Sales Report released last week. Although it’s typical for new listings to increase between March and April, the organization notes that this year’s gain was larger than in recent years, and new listings were […]
Small uptick in Hampton Roads residential real estate listings
In April 2021, there appeared to be signs that the Hampton Roads region’s low real estate inventory may be on the rise. According to the Real Estate Information Network Inc.’s monthly report on Southeastern Virginia, more listings have been added to the region’s Multiple Listing Service. Last month, there were 3,780 active listings, up from […]
Harbor Group International closes $558M loan obligation
Norfolk-based real estate investment and management firm Harbor Group International LLC has closed a $558 million commercial real estate collateralized loan obligation (CRE CLO), the company announced Wednesday. The deal, HGI 2021-FL1, is the firm’s first CRE CLO, which is a security backed by commercial real estate loans. HGI’s CRE CLO consists exclusively of bridge […]
HHHunt Corp. invests $247M in Southeast U.S. projects
Richmond-based real estate developer and builder HHHunt Corp. announced last week it has invested $247 million in residential communities in Charlotte and Raleigh, North Carolina, as well as plans to expand in the South Carolina, Nashville and Atlanta markets. With the expansion of the company’s investment in the Southeastern United States, it has announced changes […]
S.L. Nusbaum hires vice president of human resources
S.L. Nusbaum Realty Co. announced last week that Jennifer Leigh has been hired as the Norfolk firm’s vice president of human resources. She joins Nusbaum from CBRE (later acquired by Colliers) as chief human resources officer, with oversight over their offices in Virginia and North Carolina. Leigh previously worked in human resources at Sentara Healthcare, […]
Chantilly industrial building sold for undisclosed price
A 72,014-square-foot flex/industrial building in Chantilly has been sold, Edge Capital Markets announced last week. The building sold for an undisclosed price, but according to Fairfax County property records, it was assessed for $6.1 million in 2021. The building, which is 100% leased and occupied by five tenants, is in the Avi[...]
Virginia Beach office building sells for $1.9M
Commonwealth Park Executive Center in Virginia Beach has sold for $1.9 million, Colliers announced Thursday. The Class B, two-story building located at 900 Commonwealth Place once housed the WCMS radio studios and currently is 100% occupied. It was built in 1975. The building has 20,180 rentable square feet leased to five tenant[...]
Danville’s White Mill to be redeveloped into mixed-use project
Danville’s Industrial Development Authority and The Alexander Co. are teaming up to redevelop the city’s White Mill on the Dan River as a mixed-use commercial and residential project, with $62.5 million invested in the first phase, city officials announced Monday. Local officials have long been seeking developers for[...]
