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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[...]
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[...]
