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Chesapeake industrial property sells for $2.9M
2280 Steppingstone LLC has purchased two 12,000-square foot office/warehouse condo buildings from Chesapeake Land Co. LLC for $2.88 million in Chesapeake. The buildings are located at 2278-2280 Steppingstone Square. Geoff Poston of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser. Subs[...]
Virginia Beach medical office building sells for $2.7M
Virginia Beach-based Gwynn-Reed Enterprises LLC has purchased a 10,036-square-foot medical office building on 1.84 acres in Virginia Beach for $2.65 million. The property is located at 1817 Republic Road. Gwynn-Reed purchased the property from Virginia Beach-based Vitruvian Property Group LLC. S.L. Nusbaum Realty Co.’s Chris Zarpas and Chris Devine represented the seller. Subscribe to Virginia […][...]
Hampton industrial property sells for $1.7M
G & V LLC has purchased a 44,76-square-foot industrial building situated on 3.71 acres in Hampton for $1.74 million to open a manufacturing operation. The property is located at 315 E. Street. Clay Culbreth of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser; Robert L. Phillips, Jr., also with […]
Portsmouth apartment property sells for $1M
Portsmouth property management company Doud Realty Services Inc. has purchased the Edison Apartments in Portsmouth for $1 million as part of a 1031 tax-deferred exchange. The 16-unit multifamily property is located at 219-249 Edison Ave. Clark Simpson of Cushman & Wakefield | Thalhimer Capital Markets Group handled the sale [...]
CoStar Group expands presence in Richmond
Commercial real estate information and analytics company CoStar Group Inc. announced Tuesday it has subleased an additional 51,000-square-foot office space in Richmond. More than 200 staff members are expected to be based on the ninth, 10th and 11th floors of the Riverfront Plaza East Tower at 951 East Byrd Street, less than a[...]
Hampton Inn & Suites in Newport News sells for $9M
Chester-based Shamin Hotels has purchased a 120-room Hampton Inn & Suites in Newport News for $9 million. Shamin purchased the hotel, which it plans to renovate, from Yoder Inn Group LP as an investment. Located at 12251 Jefferson Ave. on approximately 2.65 acres, the hotel consists of 90 rooms and 30 two-room suites. Shamin[...]
Capital Square buys apartments in Gainesville
Henrico County-based real estate investment company Capital Square has acquired SomerHill Farms apartments in the Gainesville area of Prince William County for an undisclosed amount. Located at 7351 Yountville Drive, the 140-unit multifamily community is situated on 18.76 acres. Constructed in 2006, SomerHill Farms features six three- and four-story residential buildings and a community clubhouse. […][...]
Senior living community announced for Virginia Beach
Pembroke Realty Group and Beth Sholom Village have announced a new senior living community in the works for Virginia Beach. Located at the corner of Jeanne Street and Constitution Drive, the 7-story community will have 124 independent living apartments, 20 assisted living apartments and 12 memory support units. Designed by Kahle[...]
Arlington intends to extend ground leases for Courthouse Plaza
Arlington County and developer JBG Smith have entered into a letter of intent to restructure three ground leases that JBG Smith holds on government-owned land for a multiplex movie theater at 2100/2200 Clarendon Boulevard and office space at 2300 Clarendon Boulevard. While the county owns the land, JBG Smith owns the buildings. The letter of […]
Richmond property sells for $1.9M, leased to Starbucks
A Richmond property located at 2305-2309 West Broad Street sold for $1.9 million and was subsequently leased by Starbucks Corp. Lee Hall Plaza Inc. purchased the property, which includes 3,256 square feet sitting on 0.55 acres of land, from J.W. Willis. The parcel is located across the street from the Virginia Department of Motor Vehicles’ […]
Chesapeake office building sells for $7.5M
Virginia Beach-based property management company The Runnymede Corp. purchased Chesapeake office building Crossways Commerce Center IV for $7.5 million on Feb. 8. Located at 1408 Stephanie Way, the 51,209-square-foot building was purchased from Washington, D.C.-based real estate investment company DSC Partners. The flex building is 91% occupied by Leidos Holdings Inc. and 9% occupied by […]
Chester strip mall sold for $6M
Chester’s The Shoppes at River Forest, a 30,720-square-foot strip mall anchored by a Wal-Mart, was purchased on Feb. 26 for $6 million. Raleigh, North Carolina-based PGP River Forest purchased the property from Bogese Cos., a Richmond-based real estate development group. At the time of the sale, the center was 82% leased to tenants that include […]
