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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[...]
The Lester Group names new executive
The Lester Group has tapped Kevin Silveira to lead its building supply group and Fredericksburg-based Fortress Door Co., the Martinsville-based real estate and building materials company announced May 6. Silveira leaves a 19-year career at National Lumber Co., where he started as account manager and most recently served as vice president of sales. As vice […]
Cushman & Wakefield | Thalhimer names HR senior manager
Ryan Murchison has been promoted to senior human resources manager, Cushman & Wakefield | Thalhimer announced Friday. Murchison joined the Richmond-based real estate firm in 2015 and will oversee human resources for all the company’s business lines and offices, which are in Richmond, Newport News, Virginia Beach, Frede[...]
Norfolk Family Dollar store sold for $2.47M
A Family Dollar store in Norfolk has been sold for $2.47 million, Cushman & Wakefield | Thalhimer announced this week. The building at 2328 E. Princess Anne Road was sold on April 30 by Twin Rivers Capital to 527 Kings Hwy LLC, with sale negotiations handled by Catharine Spangler with Thalhimer’s Capital Markets Group [...]
Woodbridge office building goes for $3.25M
A commercial office building in Woodbridge has sold for $3.25 million in an off-market deal, Edge Capital Markets Group announced this week. The 11,200-square-foot building sits on a 1.56-acre parcel of land at 13370 Minnieville Road. Currently the building is occupied by a social services center focused on workforce training an[...]
Técnico Corp. buys Newport News building for $3M
An industrial building in Newport News’ Oyster Point Park was sold for $3.125 million, Cushman & Wakefield | Thalhimer announced this week. Técnico Corp. purchased the 53,414-square-foot building on 3.93 acres from Beja LLC and will occupy the property at 806 Bluecrab Road. Clay Culbreth of Thalhimer handled the sale [...]
Seeking growth, GPM enters into agreement with Chicago real estate firm
Richmond-based GPM Investments LLC, the nation’s seventh-largest convenience store chain, announced Tuesday that it has entered into a one-year agreement with Chicago-based Oak Street Real Estate Capital, which is committing up to $1 billion to purchase and lease to GPM real estate parcels associated with GPM’s acquisitions of convenience store chains and fueling stations. A […]
Realtors society elects Dawn Griggs as mid-Atlantic regional director
Dawn Griggs, a first vice president with Cushman & Wakefield | Thalhimer, has been elected as a regional director for the Society of Industrial and Office Realtors (SIOR), the commercial real estate company announced today. Griggs will oversee the Mid-Atlantic Region of the 3,460-member brokerage association in a two-year te[...]
Q1 sees stronger industrial, mixed office space demand
Cushman & Wakefield | Thalhimer has released Q1 highlights in commercial real estate for several Virginia regions, including Roanoke, Fredericksburg, Hampton Roads, Richmond and Charlottesville. Here are some of the regions’ “fast facts” for the first quarter of 2021: Roanoke’s unemployment rate reached 5.1%, an increase from the fourth quarter but still below the national […][...]
Moving out
More than a year after the pandemic began, signs point to people moving away from densely populated city centers, says Anirban Basu, chief economist for Associated Builders and Contractors, an industry trade association based in Washington, D.C. The construction industry has taken note. Basu predicts: “This decade will be abou[...]
