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CoStar to acquire Calif. tech company in $1.6B deal
The CoStar Group, which announced in February plans to move its headquarters from Washington, D.C., to Arlington County, has reached an agreement to buy all outstanding shares of California-based Matterport, a 3D data platform, in a cash and stock deal valued at $1.6 billion. A real estate analytics and data company known for on[...]
Norfolk mayor says apartments, hotel could replace MacArthur Center
MacArthur Center mall in downtown Norfolk is expected to be replaced by a major mixed-use development, which could be called “The Anchorage,” featuring a 400-room, military-themed hotel and 518,000 square feet of high-rise residential space, Norfolk Mayor Kenny Alexander announced April 12 during his State of the Cit[...]
Capital Square names chief distribution officer
Drew Jackson has been promoted to chief distribution officer of Capital Square, the Glen Allen-based real estate company announced Tuesday. Previously the president and CEO of Michigan-based financial services holding company Concorde Holdings, Jackson joined Capital Square in February as senior managing director of private weal[...]
NoVa, Hampton Roads home sales fall in March
Home sales in Northern Virginia and Hampton Roads dropped year-over-year in March, a reversal from sales growth seen in February. Median sales prices, though, continued to rise. Northern Virginia Northern Virginia home sales in March dropped 13.8% from March 2023, a reversal from the year-over-year sales growth seen in February,[...]
Norfolk strip mall near NSU sells for $2M
University Shoppes, an 8,800-square-foot retail strip center in Norfolk, sold for $2 million, according to a news release from S.L. Nusbaum Realty. An entity registered as University Shoppes LLC sold 1500 E. Brambleton Shoppes, which is located near Norfolk State University, to an entity registered as 1500 East Brambleton Shoppe[...]
Henrico trade school building sells for $1.27M
Ashland-based HSH Investments has purchased a building in Henrico County leased by long-term tenant Lotus Professional College from Ritesan Co. Inc. for $1.27 million. SLN Capital Markets, a division of S.L. Nusbaum Realty, announced the sale of 8935 Patterson Ave. on April 2. Henrico County recorded the sale March 27. The 10,15[...]
Sheetz starts construction on $2.4M Chesterfield property
Sheetz is building a store on 2.66 acres in Chesterfield County that it purchased for $2.45 million. The Altoona, Pennsylvania-based convenience store chain bought the property at 9420 Midlothian Turnpike from Gouldin Properties on March 18, according to county property records. Sheetz has started construction of a store at the [...]
231-unit affordable housing development coming to McLean
Construction will begin immediately on the 231-unit first phase of an affordable housing development in McLean backed by Amazon.com, SCG Development announced Wednesday. Located at 1750 Old Meadow Road, Somos at McLean Metro will be developed in two phases. In the first phase, Tysons-based SCG Development will demolish an abando[...]
Chesapeake strip mall goes for $3.15M
A 7,800-square-foot retail strip center in Chesapeake sold for $3.15 million, according to a March news release from S.L. Nusbaum Realty. Located at 1508 Sam’s Circle, Battlefield Shops has five tenants. It is shadow anchored by Walmart, Sam’s Club, At Home and Dollar Tree stores. Battlefield Freedom Wash sold the property t[...]
Norfolk apartments are sold for $3.1M
A 20-unit apartment property in Norfolk sold for $3.1 million on March 20. Located at 1314 and 1318 Little Bay Ave., the property has 20 one-bedroom units that are each 600 square feet. The units were built in 1970. Tidewater View sold the property to Nouveaux Little Bay. Justin Ferguson, Altay Uzun, Theo Jolley and […]
Hotel in Salem changes hands for $3.1M
A Days Inn in Salem sold for $3.1 million on March 26. Located at 1535 E. Main St., the two-story hotel has 70 rooms. It was built in 1974. Evergreen Hotels purchased the property from Devkison LLC, according to property records. Milin Mehta, Chase Dewese, Jack Davis and Joce Messinger with Marcus & Millichap’s Charlotte [[...]
Apartment buildings in Portsmouth sell for $2.4M
A 17-unit apartment property in Portsmouth sold for $2.4 million, Marcus & Millichap announced Tuesday. Built in 1987, Effingham Green Condos has 17 two-bedroom, one-bathroom units across two buildings on 2 acres. The property is located at 1007 Green St. Capps Equity sold the property to Nouveaux Effingham. Justin Ferguson,[...]
