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Central Virginia home lot sales surged 33% in Q4 2020
Henrico-based real estate researcher Integra Realty Resources announced this week that Central Virginia saw a surge of home activity in the fourth quarter of 2020, with lot sales increasing by 33% and permitting activity increasing by 39%. In this time frame, 1,430 building permits were issued for construction and 1,432 vacant lots were sold. Integra […]
Colliers International Virginia taps executive vice president
Richmond-based commercial real estate agency Colliers International Virginia LLC announced Thursday that Charles Wentworth has been promoted to executive vice president. Wentworth joined Colliers in 2012 to specialize in multifamily sales, where he represents private, high net-worth and institutional clients in the Central and w[...]
Homes sell above listing price in Virginia
In its February 2021 Home Sales Report, Virginia Realtors says that homes in Virginia sold above their asking price on average, sales have quickened, and housing inventory has continued to shrink last month. For several months, strong demand, limited inventory and historically low mortgage rates have driven price growth in Virginia. In February, the median […]
Campbell County shopping center sells for $4.7M
A Campbell County shopping center sold for $4.7 million Monday, S.L. Nusbaum Realty Co. announced Tuesday. The Kent Mall LLC, a Pennsylvania-based real estate investment company, purchased Rustburg Marketplace, a 46,700-square-foot shopping center, from Rustburg Ventures LLC of Richmond. Anchored by Food Lion, the shopping cente[...]
Bon Secours plans to build emergency clinic in Chester
Bon Secours St. Francis Medical Center plans to build a freestanding emergency clinic in Chester on six acres the health care system recently acquired for $1.95 million. The facility will be built at the corner of Route 1 and Moore’s Lake Road. Bon Secours purchased the property from Americana Park LLC and Trollingwood Land LLC. […]
Manufacturing/logistics building coming to Meadowville Technology Park
A newly announced 353,044-square-foot manufacturing and industrial facility will be the first spec building constructed at Meadowville Technology Park, which is owned by the Chesterfield County Economic Development Authority. The project is being developed by Columbia, South Carolina-based Red Rock Developments and Stamford, Con[...]
Breeden buys $3.5M Newport News site for apartments
Breeden Investment Properties Inc. purchased a 5.06-acre land parcel to build a 176-unit apartment complex in the 200-acre Huntington Pointe residential development. The Virginia Beach-based commercial real estate development company paid $3.52 for the vacant parcel. Breeden purchased the property, located off of Denbigh Boulevard near the York County line, from Huntington Pointe LLC. C. […][...]
Mack Trucks’ Salem manufacturing facility sells for $12.7M
An Argentinian private equity partnership purchased a 280,900-square-foot manufacturing facility in Salem for $12.7 million. Located at 6450 Technology Drive, the property is leased to the Mack Trucks Inc. division of AB Volvo Group. Mack Trucks employs 250 people at the Roanoke Valley Operations facility in Salem, where it̵[...]
February activity signals busy spring for NoVa home sales
The pace and price of home sales in Northern Virginia likely signal a busy spring for the real estate sector, according to the Northern Virginia Association of Realtors (NVAR). In a news release, the association states the average February sale price was 100.2% of the listing price. The total dollar volume of the region in […]
W.M. Jordan Co. promotes two Richmond execs
Newport News-based construction firm W.M. Jordan Co. recently promoted two executives in its Richmond division. K. Brooks Ballance has assumed the role of vice president of the Richmond division; William “Bill” L. Lucas Jr. has been promoted to director of estimating for Richmond. Ballance joined the company as a project manager in 1999; he is […]
Fairfax County senior living community begins $56.5M renovation
Fairfax County senior living community The Virginian has begun a $56.5 million renovation, aimed to be completed in phases through June 2022. The renovated seven-story, 367,000-square-foot building will include four wings featuring 155 independent living apartments, 56 assisted living apartments and 38 memory care residences. Th[...]
Commonwealth Commercial Partners announces promotion, hires
Richmond-based commercial real estate firm Commonwealth Commercial Partners has announced one promotion and two new hires. Thomas Hatcher has been promoted to managing director of asset management; Hunter Huber has been hired as managing director of Virginia; and F. Gresham “Gresh” Wall III has been hired as managing directo[...]
