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Alexandria office building sells for $13.12M; to be converted to condos
An office building in Alexandria that sold for $13.12 million will be converted to condominiums, according to an announcement from Bethesda, Maryland-based commercial real estate firm Finmarc Management Inc. Located at 801 N. Fairfax Street, the vacant four-story, 65,971-square-foot building will be converted to a 54-unit comp[...]
Demo work to start this month on Innovation Campus property
Demolition and infrastructure work is set to start this month at the Potomac Yard property where the $1 billion Virginia Tech Innovation Campus is set to be built, developer JBG Smith announced Thursday. Virginia Tech and Chevy Chase, Maryland-based real estate investment, management and development company JBG Smith, which is o[...]
Colliers International Virginia names new partner
Colliers International announced Tuesday that Jessica Butterworth has been appointed as a partner at Colliers International Virginia. Since 2018 Butterworth has served as the director of engineering services, a role in which she oversees building engineering services for the Colliers offices in Richmond, Charlottesville, Norfolk[...]
Three Henrico County office buildings sell for $19.2M total
Three office buildings in Henrico County collectively sold for $19.2 million, Colliers International announced Tuesday. The office buildings, known as the Midtown Office Portfolio, total 155,368 square feet. The buildings include One Holland Place (at 2235 Staples Mill Road) and Vistas I & II (at 5540 and 5516 Falmouth Str[...]
350-unit apartment complex coming to Richmond’s Scott’s Addition
A 350-unit mixed-use apartment building is coming to Richmond’s Scott’s Addition neighborhood by late 2022 or early 2023, Glen Allen-based real estate investment company Capital Square and Charleston, South Carolina-based real estate developer Greystar announced Thursday. Capital Square and Greystar purchased 2.28 acres of l[...]
Industrial building in Norfolk sells for $5M
An industrial building in Norfolk sold for $5 million, Cushman & Wakefield | Thalhimer announced Thursday. The 86,732-square-foot building located at 3501 E. Princess Anne Road sits on 2.8 acres in Norfolk Industrial Park. The building is 33% leased to organic spices, herbs and botanicals manufacturer American Botanicals.�[...]
Fredericksburg medical office building sells for $2.6M
A medical office building in Fredericksburg sold for $2.6 million, Cushman & Wakefield | Thalhimer announced Wednesday. Nashville-based real estate private equity firm Excelsior Capital Group LLC purchased the 13,786-square-foot property from DJK Properties as an investment. Located at 1011 Care Way, the building sits on the[...]
Dental office building in Suffolk sells for nearly $2.43M
A dental office building in Suffolk sold for nearly $2.43 million, Cushman & Wakefield | Thalhimer Capital Markets Group announced Wednesday. California-based investor Aspen Suffolk LLC purchased the 3,500-square-foot Aspen Dental property located at 1930 North Main Street from LWS Suffolk Station LLC, an affiliate of Atlant[...]
Colliers International Virginia names senior VP, asst. VP of capital markets team
Colliers International Virginia announced Thursday it has hired Prashant Merchant as senior vice president of the company’s capital markets team and Nic Wade as assistant vice president. Merchant and Wade most recently led the hospitality division for California-based real estate brokerage Marcus and Millichap Inc. In their ne[...]
Microsoft leases space in Arlington’s Commonwealth Tower
Microsoft Corp. will open a sales headquarters in Arlington, expanding its presence in Northern Virginia, the tech giant’s president of U.S. regulated industries, Toni Townes-Whitley, announced Tuesday. Microsoft — which announced in May 2020 that it would invest $64 million to expand in Reston Town Center in western Fairfax[...]
The VirginiaBusiness.com Top Five
The top trending stories on VirginiaBusiness.com from Nov. 16 to Dec. 15 included the news that Gov. Ralph Northam was ordering new restrictions based on post-Thanksgiving surges in coronavirus cases. Wise County is first to receive Starlink internet in Va. The pilot program from Elon Musk’s SpaceX will provide broadband via l[...]
Roanoke clears path for more downtown development
Roanoke developer Lucas Thornton hopes to break ground this summer on a multimillion-dollar renovation project that will transform what is now Campbell Court Transportation Center, the city’s rundown bus station, into an office tower and another building with apartments and retail space. Thornton’s $35 million development, t[...]
