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Falls Church office building sells for $87.5M
An office building in Falls Church sold for $87.5 million, commercial real estate advisory firm Newmark Knight Frank (NKF) announced Tuesday. Located at 3170 and 3180 Fairview Park Drive, the 284,333-square-foot property is 98% leased, with tenants including General Dynamics Information Technology, Capital Caring Health, Sheet[...]
Divaris names senior VP, office leasing
Virginia Beach-based real estate company Divaris Real Estate Inc. announced last week that it has hired Trib Sutton as senior vice president of office leasing in its Richmond office. Sutton joined Divaris after 21 years with commercial real estate firm CBRE | Richmond, where he handled tenant and landlord representation, inves[...]
Va. makes $12M extra CARES funding available for rent, mortgage relief
An additional $12 million in federal CARES Act funding will be directed to Virginia’s Rent and Mortgage Relief Program (RMRP) due to high demand for financial assistance with mortgages and rent payments. First launched in June with $50 million in federal CARES Act funding, the program provides financial assistance through a one-time payment with the […]
Hourigan names CFO, general counsel
Richmond-based commercial construction and development firm Hourigan announced Friday it has hired David Ryan as chief financial officer and Kelley Holland as general counsel. Ryan most recently served as vice president for corporate strategy and investor relations at chemical company Albemarle Corp. With nearly 30 years of ex[...]
Henrico office building sells for $1.1M
A 17,112-square-foot office building in Henrico County sold for $1.1 million, commercial real estate brokerage firm Marcus & Millichap announced last week. Located at 2120 Staples Mill Road, the building was constructed in 1974 and sits on 0.73 acres. The building was vacant at the time of the sale, and the new owners plan o[...]
Former Salvation Army thrift store sells for $2.4M in Chesterfield
A 15,600-square-foot commercial building in Midlothian sold for $2.4 million, Glen Allen-based commercial real estate consulting and brokerage firm Taylor Long Properties announced last week. Located at 11000 Midlothian Turnpike in North Chesterfield, 11000 Midlothian Turnpike LLC purchased the building from The Salvation Army. [...]
RiverStone Ranch auction set for Oct. 28
The 979-acre RiverStone Ranch in Buchanan will go to auction on Oct. 28, rural real estate firm Hall and Hall announced last week. The Botetourt County estate, which has remained in private ownership for more than 200 years, includes tunnels, canals and stone walls from George Washington’s James River Kanawha Project. The pr[...]
Good deeds
The pandemic hasn’t seemingly slowed down commercial real estate development and transactions in Hampton Roads. Despite significant financial hits to the hospitality industry, the $125 million, 305-room Marriott Virginia Beach Oceanfront opened in June, the second phase of Gold Key | PHR’s three-phase, $350 million renovatio[...]
Chips on the table
On Election Day, Norfolk and Portsmouth voters will decide whether to hold ’em or fold ’em. The two Hampton Roads cities will consider separate Nov. 3 ballot referendums on large casino projects that promise jobs, tax revenue, increased area tourism and funds for school construction. “It’s new for Virginia, for sure,” [...]
This burg has grown
Three-term incumbent Fredericksburg Mayor Mary Katherine Greenlaw recalls when her city moved at a slower pace, as did surrounding Spotsylvania and Stafford counties. All that has changed, profoundly. Fredericksburg’s population has jumped by more than 50% during the past 20 years, from 19,279 in 2000 to an estimated 29,036 in[...]
Home prices still increasing
Hampton Roads home values continued trending upward from July 2019 through July 2020. According to the latest available data from the Real Estate Information Network Inc., the Multiple Listing Service for the region, the median price of buying a home in Hampton Roads this July was $275,000 — a 7.84% increase from July 2019. Wh[...]
Slowdowns ahead
When the COVID-19 outbreak began in March, projects at Howard Shockey & Sons, a Winchester-based commercial construction company, kept moving forward. After all, construction is considered an essential business, and unlike some other states, Virginia did not restrict construction activity at the start of the pandemic. But wh[...]
