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Former Roanoke Boy Scouts building sells for $1.2M
The former Boy Scouts of America building in Roanoke has sold for $1.2 million. Located at 2131 Valley View Boulevard, the 11,185-square-foot building was purchased by 1501 WW LLC from Blue Ridge Mountains Council Inc. The sale closed on March 3. Matt Huff and Zack May of Poe & Cronk facilitated the sale on behalf […]
Former Roanoke Johnson & Johnson property sells for $6.26M
The former Johnson & Johnson Spectacle Lens Group development on more than 30 acres in Roanoke has sold for $6.26 million. Located at 2797 Frontage Road, the property was purchased by Briar Oaks Investments VII LLC from Delta Dental of Virginia. The sale, which included a 146,852-square-foot medical grade manufacturing, offi[...]
$60M Hanover industrial development to begin construction in May
A $60 million, five-building industrial development is set to begin construction next month in Hanover County. Northlake II will include approximately 655,000 square feet of Class A industrial space. Construction on the first three buildings will commence in May, with an anticipated completion of spring 2022. The project is bein[...]
NoVa housing market remains hot
Northern Virginia is continuing to see high levels of housing activity, a trend also taking place around the state and around the country. In an April 13 news release, the Northern Virginia Association of Realtors (NVAR) states that March saw a 54% month-over-month increase in new contract activity in the region, with 2,781 new [...]
Winchester apartments sell for $4.5M
WinLee Apartments, a 41-unit multifamily property in Winchester, has been purchased as an investment by Fairmont Holdings LLC for $4.5 million. Located at 320-350 Fairmont Ave. and 131-165 Peyton St., the six-building complex was sold by WinLee Apartments LTD. The sale closed on April 12. Jamie A. Scully of Cushman & Wakefie[...]
Roanoke industrial property sells for $2M
A 65,825-square-foot industrial property in Roanoke has been purchased for $2.02 million. Located at 1764 Granby St. NE, the property was purchased from Vista Properties by H&M Commercial Properties. The property had one tenant occupying about half the space; the other half of the property will be immediately available for l[...]
UPDATED: Liberty University files $10M suit against Falwell
Liberty University has sued Jerry Falwell Jr. for $10 million, accusing the former president and chancellor of the Lynchburg-based Christian university of breach of contract and fiduciary duty. The suit alleges that Falwell negotiated a salary increase and larger severance package in his 2019 contract while not disclosing to the[...]
Updated: McAuliffe leads total field of candidates with $8.5M on hand, $9.7M raised
Updated Friday, April 16 Former Virginia Gov. Terry McAuliffe, running for a second, nonconsecutive term, raised $4.1 million in the first quarter of the year, according to campaign finance reports filed Thursday, placing him well ahead of the other Democrats vying for the party’s nomination for governor. McAuliffe’s[...]
Liberty’s renamed think tank names Pompeo, Huckabee as fellows
Liberty University’s newly renamed think tank, the Standing for Freedom Center, has announced a slate of five new fellows, including former Secretary of State Mike Pompeo and ex-Arkansas Gov. Mike Huckabee. Also named as fellows are Abby Johnson, an anti-abortion activist who used to work for Planned Parenthood, and Libert[...]
CoStar to purchase Norfolk-based Homes.com for $156M
CoStar Group Inc. announced Wednesday it has reached an agreement to purchase Homes.com, a division of Norfolk-based Dominion Enterprises, for $156 million in cash. Homes.com is a residential property listing and marketing portal that brings nearly 1.8 million residential property listings each month to its membership base of more than 500,000 residential real estate agents […]
VEDP, Martinsville receive $3.9M in federal grants
The city of Martinsville and the Virginia Economic Development Partnership have been awarded $3.9 million in federal CARES Act grants to boost economic development during the downturn related to the COVID-19 pandemic, the U.S. Department of Commerce announced Thursday. Martinsville will receive a $3 million grant from the Commerce Department’s Economic Development Administration to expand […][...]
VMI names Wins new superintendent
Retired U.S. Army Maj. Gen. Cedric T. Wins was named Virginia Military Institute’s new superintendent by the VMI Board of Visitors on Thursday. Wins, who has served as interim superintendent at VMI since November 2020, is a 1985 graduate of the state-supported military college in Lexington. “Maj. Gen. Wins has distinguished [...]
