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CoStar makes deal to move into Arlington HQ in early 2025
CoStar Group is accelerating its headquarters move from Washington, D.C., to Arlington County, thanks to a deal with a tenant in the headquarters building that included a $48 million early termination fee. The global real estate data and analytics company, best known for its Apartments.com and Homes.com marketplaces, announced p[...]
Opening doors
The Hard Rock entertainment, gaming, and hospitality brand is solidifying its place in Bristol on Nov. 14 with the formal opening of its Hard Rock Hotel & Casino Bristol, a $515 million resort and casino. The company has had a presence in the city for the last two years via a temporary casino facility, but […]
Breeden promotes five property management employees
The Breeden Co. has promoted five employees in its property management division, the Virginia Beach-based real estate company announced Thursday. The five employees are Rachel Blanchard, Lisa Capps, Sheena Obermark, Tiffany Rote and Samantha Schuman. Blanchard, who was previously a project manager, has been appointed director of[...]
Fed’s Fifth District economy grows modestly
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew modestly from early September, according to the latest edition of the Fed’s Beige Book, released Wednesday. Published eight times per year, the Beige Book[...]
Va. pending home sales, prices rose in September
Pending home sales in Virginia rose in September — increasing almost 14% from September 2023 — suggesting more buyers are entering the market, according to Virginia Realtors data released Tuesday. Last month, 8,065 homes sold in Virginia, a less than 1% increase from September 2023. Although closed sales remained relatively [...]
Former NFL, U.Va. football player indicted on embezzlement charges
Real estate developer Christopher A. Harrison, a former University of Virginia and NFL football player, was indicted last week on federal embezzlement charges connected to a downtown Richmond residential project and Petersburg’s former Ramada Inn, which he purchased in 2018 to redevelop. According to a news release by the [...]
U.Va. dedicates Ramon W. Breeden Jr. Commerce Grounds
The University of Virginia on Friday dedicated the Ramon W. Breeden Jr. Commerce Grounds plaza and officially named “Breeden Way,” located adjacent to the McIntire School of Commerce. The honor is in recognition of Breeden’s legacy as founder and chair of Virginia Beach-based real estate company The Breeden Co., as wel[...]
Roanoke EDA delivers on Artspace funding
Artspace, a Minnesota-based nonprofit that develops affordable housing for artists and creative spaces, plans to build a mixed-use affordable housing project for artists and their families in Roanoke, at the massive Riverdale redevelopment project planned for the Southeast quadrant of the city. “This will be their first [...]
Hardee to retire as Lawson Cos. CEO in 2025
Lawson Cos., the Norfolk-based residential real estate development and construction company, announced Thursday its president and CEO, Carl Hardee, will retire at the end of 2025. Aaron Phipps, Lawson’s senior vice president and chief financial officer, is expected to succeed Hardee, who was named president and CEO in 2016[...]
Hard Rock Bristol to open permanent facility Nov. 14
The Hard Rock Hotel & Casino Bristol will open its approximately $515 million permanent facility on Nov. 14, with country music star Blake Shelton making an appearance at the ceremony, its development team announced Wednesday. The temporary Bristol Casino: Future Home of Hard Rock opened July 8, 2022, making it VirginiaR[...]
Home truths
The summer of 2024 brought better news for prospective homebuyers in Hampton Roads, with median home prices in the region starting to decrease and the number of homes for sale at a near four-year high. The coastal region of Virginia has seen the same strains on the market as the rest of the country — […]
Dropping anchor
LS GreenLink USA spent two years on site selection, scouring much of the East Coast for the right location to build a 750,000-square-foot factory to manufacture subsea cables for offshore wind farms. Then it landed on Chesapeake. Patrick Shim, LS GreenLink’s managing director, cited several reasons for the company’s [...]
