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NoVa housing market continues to recover
Northern Virginia saw an increase in the number of housing units sold in July, according to the Long & Foster Real Estate Market Minute Report released Friday. The report includes data from Alexandria and Arlington, Fairfax, Loudoun and Prince William counties. Alexandria saw the largest increase in units sold at 15%, and also saw the […]
Real Estate
J. SCOTT ADAMS PRESIDENT, VIRGINIA, COLLIERS INTERNATIONAL LLC, NORFOLK A nearly 30-year veteran in the real estate industry, Adams, who joined Colliers in January 2019, oversees the company’s Central and Southeast Virginia teams and, starting this fall, the Raleigh market. Last year, Colliers Virginia, which employs more than 350 people, reported $54.5 million in revenue. […]
Apartments developer buys 13 acres in Chesterfield for $4M+
An apartment complex developer has purchased a 13-acre site in Chesterfield County for $4.025 million, Commonwealth Commercial Partners LLC announced Friday. Located at 6767 Iron Bridge Road, the complex will include 230 apartment units, a clubhouse and a pool. Austin Woods Development Co. sold the property to Waverton Developme[...]
Hanover shopping center being built on former Wigwam site
CORRECTION: An earlier version of this story incorrectly stated the location of the shopping center. It is being built in Hanover County. Construction began last week on a 22,000-square-foot shopping center in Hanover County on U.S. Route 1 near Virginia Center Commons, Richmond-based asset disposition group Motleys announced Friday. Wigwam Crossing is being built on […]
S.L. Nusbaum names VP corporate brokerage, development
Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Wednesday it has hired Fenton Childers as vice president of corporate brokerage and development. With 35 years of experience, Childers was most recently real estate manager with The Kroger Co., where he managed its brokerage team. His experience has been focus[...]
Martinsville apartment complex sells for $2.52M
An apartment complex in Martinsville sold for $2.525 million, Cushman & Wakefield | Thalhimer announced Thursday. Located at 16 Molly Circle, the Wellington Manor Apartments includes 62 town house-style units. The property was sold by TP Two LLC and Wellington Inc. to Wellington Manor Apartments LLC. The complex is located[...]
Suffolk shopping center sells for $2.72M
A shopping center in Suffolk sold for $2.72 million, Cushman & Wakefield | Thalhimer announced Tuesday. Located at 1910 N. Main Street, the 7,600-square-foot Obici Shops retail property was sold by Venture Obici LLC to Battlefield Consolidated Properties LLC as an investment. The property was 100% leased at the time of the s[...]
Construction backlog declines in July
The Associated Builders and Contractors (ABC) national trade association announced Tuesday its Construction Backlog Indicator (CBI) declined to 7.8 months in July, a decrease of 0.3 months from June — which, in turn, has decreased contractor optimism. The CBI is a forward-looking national economic indicator that shows work construction companies are contracted to do in […]
Dewberry executive VP appointed to Construction Industry Round Table board
Fairfax-based engineering consulting firm Dewberry announced Tuesday that Dave Mahoney, an executive vice president based in the company’s Fairfax office, has been appointed to the Construction Industry Round Table’s (CIRT) board of directors. As a board member, Mahoney will work with other industry professionals in the [...]
$8.79M in CARES Act funding going to affordable housing
Following Gov. Ralph Northam’s announcement on Aug. 7 that the eviction moratorium would be extended through Sept. 7, U.S. Sens. Mark R. Warner and Tim Kaine on Monday announced that $8.79 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding will go to affordable housing in Virginia. “As housing insecurity continues to […]
Construction continues to struggle during pandemic
The nonresidential construction industry lost 4,000 jobs in July, as compared to June, the Associated Builders and Contractors (ABC) announced Friday. The construction industry as a whole, however, has added 639,000 jobs during the past three months — recovering approximately 59% of the jobs lost during the pandemic. “For several weeks, contractors have noted an […]
Va. Supreme Court grants eviction moratorium through Sept. 7
The Supreme Court of Virginia granted a temporary statewide eviction moratorium to begin Aug. 10 and remain in effect through Sept. 7, Gov. Ralph Northam announced Friday. The moratorium halts all eviction proceedings related to rent payment failures due to the pandemic. Northam requested the moratorium in a letter to the state’s highest court on […]
