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Commercial real estate firms confident they can weather pandemic
Faced with the coronavirus pandemic, Virginia-based commercial real estate firms say they’re pausing transactions in the short term, but are still moving forward with long-term development plans. The firms are also turning their focus toward supporting tenants and landlords through financial difficulties caused by the cris[...]
Richmond developer raises $7M for apartment building in Scott’s Addition
Capital Square Realty Advisors LLC, a Henrico County-based real estate investment and management company, announced Monday that it has raised $7 million from investors for a five-story, 80-unit apartment building in the city’s popular Scott’s Addition neighborhood. Scott’s Collection I, which will be located on[...]
JBG Smith gets green light for 300-foot-tall apartment towers in Crystal City
Bethesda, Maryland-based developer JBG Smith Properties has secured the final permissions from Arlington County for two, 300-foot-tall apartment towers in Crystal City near where the real estate company is developing and leasing space for Amazon.com Inc.’s $2.5 billion HQ2 East Coast headquarters. The mixed-use development[...]
Daleville shopping center sells for $8M
Botetourt County shopping center Orchard Marketplace has sold for $8 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Club Forest Guardian LLC purchased the 46,552-square-foot property from Orchard Anchor LLC and New Orchard Marketplace LLC on March 10. The property was 100% leased at t[...]
Chicago developer plans senior living facility in Henrico
A Chicago developer has purchased a 5.3-acre plot of land in Henrico County for $3.75 million from Temple Beth El synagogue in Richmond. The land will be developed into a senior living facility. CA Ventures’ CA Senior Living division will be building a senior living facility, featuring assisted and independent living opt[...]
Denver real estate company buys Lexington apartment building for $12.2M
Denver-based real estate company Steele Properties LLC has acquired a three-story, 78-unit apartment building in Lexington for $12.2 million. It plans to begin renovating the complex in May, Steele Properties Communications Manager Lynn Haner says. The community, Lexington House, is reserved for seniors and disabled persons in n[...]
Casino plans move forward with GA vote
A bill allowing commercial casinos in five cities is expected to be signed by Gov. Ralph Northam after it passed the Virginia General Assembly on Sunday by a 60-35 vote in the House of Delegates, a day after the state Senate passed the bill 27-12. HB4 authorizes casino gaming in Portsmouth, Richmond, Norfolk, Danville and [&hell[...]
Colliers International promotes Richmond employee to assistant VP
Real estate company Colliers International promoted Megan Sullivan to assistant vice president at its Richmond office, the company announced Thursday. Sullivan began her commercial real estate career in July 2015 and specializes in sales and leasing for office and medical office buildings. She came to Colliers in January 2019, [...]
Stanley Martin buys Richmond parking lot for $3.9M to develop town homes
Reston-based Stanley Martin Cos. LLC has purchased a 1.16-acre parking lot at 1027 N. Lombardy St. in Richmond from Sylvia Place Properties LLC for $3.9 million, Virginia Beach-based Divaris Real Estate Inc. announced Wednesday. Read Goode and Cheryle Toy represented Stanley Martin in the transaction. Stanley Martin also has 2[...]
HHHunt names new COO
Blacksburg-based real estate company HHHunt Corp. promoted Stephen Fritz to chief operating officer, the company announced Tuesday. Fritz was most recently senior vice president of HHHunt and president of HHHunt Homes. As COO, he will serve on the company’s executive committee. He will be based in the Richmond and Raleigh offi[...]
Park West office building in Va. Beach sells for $6.75M
A three-story office building in Virginia Beach sold for $6.75 million, real estate company Colliers International announced Tuesday. The 66,062-square-foot building developed in 1989 is located at 2877 Guardian Lane was sold by Park West Owner LLC to Guardian Lane West LLC. The property is located less than a mile from Intersta[...]
Pulaski shopping center sells for $5.25M
A 112,340-square-foot retail center in Pulaski was sold for $5.25 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The shopping center located at 1200 E. Main St. in Pulaski was 91% leased at the time of the sale. Tenants of Pulaski Plaza include Food Lion, Peebles, Badcock Furniture, [...]
