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Chesapeake industrial office building sells for $1.95M
An industrial office building in Chesapeake sold for $1.95 million, Cushman & Wakefield | Thalhimer announced last week. Located at 1017 Wallboard Drive, the 19,500-square-foot office building was vacant at the time of the sale. The property was purchased by Wallboard LLC, a drywall company, from Seahawk Properties LLC, whic[...]
Midlothian office building sells for $1.1M
An office building in Chesterfield County’s Midlothian area has sold for $1.1 million, S.L. Nusbaum Realty Co. announced last week. Located at 1700 Huguenot Road, the 11,830-square-foot office building is 90% occupied by 10 tenants, including a home remodeling company, an attorney’s office and an insurance agent, as well[...]
Calif.-based company buys Sterling apartment complex for $27.15M
An affordable housing complex for seniors in Sterling has sold for $27.15 million, Irvine, California-based Avanath Capital Management announced late last week. Avanath acquired the 150-unit Cascades Village located at 46565 Harry Byrd Highway from Community Village at Sterling LP, according to Loudoun County property records. �[...]
Va. home prices, sales up during October
Home prices in Virginia continued to surge during October due to high demand, low inventory and mortgage rates, according to a report released by Virginia Realtors on Tuesday. Northern Virginia, Central Virginia and Hampton Roads saw median home prices rise by 15% when compared with the same time last year. The median statewide [...]
Construction begins on $20M Norfolk apartment complex
Construction began late last week on a $20 million apartment complex at the site of the former American Cigar Co. in Norfolk, according to S.L. Nusbaum Realty Co. The 118-unit complex (including one-, two- and three-bedroom floor plans) will be located at 1140 and 1148 E. Princess Anne Road in Norfolk’s Bruce’s Park [...]
Chesapeake office building sells for $4.25M
An office building in Chesapeake has sold for $4.25 million, Colliers International announced Monday. Located at 661 Independence Parkway, the 50,000-square-foot Class A office building sits on more than 11 acres in the Battlefield Commerce Park area. Matsushita Real Estate Corp. of America sold the property to Hooked Group LLC,[...]
Staunton shopping center sells for $2.2M
A shopping center in Staunton sold for $2.2 million, Colliers International announced late last week. The 55,984-square-foot Orchard Hill Square shopping center is located at 11 Orchard Hill Circle. It was 82.5% leased at the time of the sale to tenants including Food Lion, University of Virginia Dialysis, TJ Maxx, Ashley HomeSt[...]
Va. Beach manufacturing facility sells for $21.7M
A 320,000-square-foot industrial building in Virginia Beach sold for nearly $21.7 million, Cushman & Wakefield | Thalhimer Capital Markets Group announced late last week. The property located at 1537 Air Rail Drive is fully leased to World Distribution Services, an affiliate of The World Group, which offers logistics service[...]
Shuttered Alexandria power plant making way for mixed-use development
A former coal-fired power plant in Alexandria will become home to a mixed-use development along the Potomac River. Chicago-based Hilco Redevelopment Partners (HRP), a Hilco Global business unit, announced Monday it purchased the 71-year-old Potomac River Generating Station site, which encompasses approximately 20 acres. HRP ac[...]
Chesapeake Family Dollar property sells for $1.78M
A Family Dollar store property in Chesapeake sold for $1.78 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. Located at 3736 Ahoy Drive, the 8,320-square-foot retail property was net leased to Family Dollar. TRC Chesapeake sold the property, which it bought in July 2019, according to Chesa[...]
Commercial real estate lease roundup
Northern Virginia L3Harris Technologies Inc. renewed its lease of 6,357 square feet of office space at 17021 Combs Drive in King George County. Chris Russotti and Jamie A. Scully of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord. Floors by Design leased 9,900 square feet of industrial space at […]
S.L. Nusbaum exec named president of SIOR Va. Chapter
Norfolk-based S.L. Nusbaum Realty Co. announced Wednesday that Austin Newman, vice president and director of office brokerage, has been named president of the Virginia chapter of the Society of Industrial and Office Realtors (SIOR). With more than 3,400 members in 686 cities and 38 countries, SIOR is a global professional office[...]
