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TowneBank and CHKD buy Norfolk Southern Tower for $30M
UPDATED JULY 2 | Suffolk-based TowneBank and Children’s Hospital of the King’s Daughters (CHKD) have jointly purchased the 22-story Norfolk Southern Tower in downtown Norfolk from the Fortune 500 railroad corporation, which is in the process of migrating its corporate headquarters to Atlanta. The building sold for $30 mill[...]
Capital Square hires VP of capital markets
Henrico County-based real estate investment company Capital Square announced Wednesday it has named Marc Slavny as executive vice president of capital markets and director of due diligence. He will be responsible for overseeing capital markets and fundraising, creating the firm’s due diligence team, as well as designing and im[...]
Reston software company selects chief revenue officer
Reston-based lease management software company LeaseAccelerator Inc. announced Tuesday it has named David Mitchell as its chief revenue officer. Mitchell was most recently senior vice president of worldwide sales at McLean-based cloud computing company Appian Corp. In his new role, he will focus on sales execution in North Ame[...]
Two retail spaces in Harrisonburg sell for $5.25M
Two retail spaces in a Harrisonburg shopping center have sold for a total of $5.25 million, Harrisonburg-based commercial real estate brokerage Cottonwood Commercial announced Monday. The 2,500-square-foot Starbucks unit and a 5,000-square foot unit occupied by Potbelly Sandwich Shop and Sleep Number, a bedding store, were pur[...]
Norfolk apartment complex sells for $17M
The Brittany Place apartment complex in Norfolk has sold for $17 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced late last week. Located at 6143 Edward Street, the complex includes 148 two-bedroom units. The Affordable Housing Corp. sold the property to 6143 Edward Street [...]
CBRE names mid-Atlantic retail lead
Commercial real estate services and investment firm CBRE has named Katie Mahon as its senior managing director and retail lead for its mid-Atlantic division, which includes markets in Virginia, Washington, D.C., and Maryland, the company announced late last week. In her newly-created role, she will oversee CBRE’s retail operat[...]
City of Alexandria signs lease in Mark Center
The Institute for Defense Analyses (IDA) signed a lease with the city of Alexandria, which will move the city Department of Community and Human Services and the Alexandria Health Department into the current IDA headquarters building in the Mark Center development in 2023, following renovations. Depending on leasehold improveme[...]
Divaris hires principal for Richmond office
Virginia Beach-based real estate company Divaris Real Estate Inc. announced Tuesday it has named Loretta L. Cataldi as principal and managing broker. In her new role, she will work in Divaris’ Richmond office leading office operations, leasing activities, recruiting, mentoring and company growth. Cataldi was most recently pa[...]
GMU selects three finalists for $250M Institute for Digital InnovAtion
George Mason University on Monday announced three development and property management firms as finalists to build and operate its proposed $250 million Institute for Digital InnovAtion (IDIA), set to open in September 2025 on its Arlington campus. The university released a request for proposals in February, to which 105 develope[...]
Coffee roasting company to build Suffolk distribution center
Massimo Zanetti Beverage USA Inc. (MZB-USA) announced Thursday it will build a 355,933-square-foot distribution center in Suffolk to support its headquarters and main coffee roasting operations in Portsmouth. The distribution center will be located in the Virginia Port Logistics Park, which is located approximately 30 miles from the Port of Virginia. Construction on the warehouse […]
Virginia places 20-day moratorium on evictions
With almost 400,000 Virginians still unemployed due to the COVID-19 pandemic’s economic fallout, Gov. Ralph Northam has announced a temporary statewide moratorium on eviction proceedings in the commonwealth, to remain in effect through June 28. Granted by an order from Virginia Supreme Court Chief Justice Donald Lemons, the moratorium will pause evictions will the Northam […]
Chesapeake shopping center sells for $13.6M
The Gainsborough Square shopping center in Chesapeake sold on June 2 for $13.6 million, according to city property records. Virginia Beach-based Armada Hoffler Properties Inc. (which declined to state the sales price) sold the 88,862-square-foot property to Slate Asset Management, according to a June 3 announcement from Collie[...]
