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Norfolk office building sells for $4.1M
Norfolk-based Azalea 888 LLC purchased a two-story office building in Norfolk Industrial Park for $4.1 million, Cushman & Wakefield | Thalhimer announced Wednesday. Azalea 888 purchased the property at 1151 Azalea Garden Rd. from Roseville, Calif.-based Asset Preservation Inc. in a deal that closed on Jan. 7. The 54,986-sq[...]
Dominion chooses turbine supplier for $7.8B offshore wind farm
Richmond-based Dominion Energy has selected Spanish renewable energy engineering company Siemens Gamesa Renewable Energy S.A. as the preferred turbine supplier for its proposed $7.8 billion offshore wind farm off the coast of Virginia Beach, Dominion announced Tuesday. Dominion announced plans in September 2019 to build a 220-tu[...]
Hampton retail property sells for $2.2M
Hampton-based Long76W LLC bought a 12,752-square-foot retail property in Hampton for $2.2 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The property was 100% leased to Safelite Auto Glass and West Marine at the time of the sale of 2121 W. Mercury Blvd., and was owned by Virginia Bea[...]
InMotion Hosting buys Va. Beach offices for $8.5M
Web hosting company InMotion Hosting has purchased a Virginia Beach office building previously occupied by Stratford University for $8.5 million, Cushman & Wakefield | Thalhimer announced Monday. InMotion Hosting bought the a 61,528-square-foot class A office property from Campus Realty Virginia Beach LLC. The for-profit S[...]
Newport News medical device company appoints new CFO
Newport News-based medical device company ivWatch LLC announced three executive appointments on Monday, including Teresa “Terry” Blevins as chief financial officer, Erin Wendell as chief marketing officer and Paul Stoddard as vice president of sales. Blevins has more than 30 years of experience in financial planning and most recently worked as CFO for Hampton-based defense […]
Bon Secours Mercy Health acquires three Va. hospitals
Cincinnati-based Bon Secours Mercy Health has completed the acquisition of three Virginia hospitals: the 300-bed Southside Regional Medical Center in Petersburg, the 105-bed Southampton Memorial Hospital in Franklin and the 80-bed Southern Virginia Regional Medical Center in Emporia. Bon Secours Mercy Health acquired the hospitals from Franklin, Tennessee-based Community Health Systems Inc. Financial terms of the […][...]
Pharrell Williams-backed surf park on its way
After almost a year of negotiations, Virginia Beach City Council has struck a deal with Venture Realty Group to develop a mixed-use surf park and entertainment venue covering three city blocks near the oceanfront. Called Atlantic Park, the $325 million project will be built on the 10-acre site of The Dome, the geodesic concert v[...]
The real world
When a new brewery set its sights on the Williamsburg area, it knew William & Mary students would be a key customer base. To reach them, the business owners decided to tap into a source of unique marketing advice — Agency 1693, an advertising firm run by William & Mary students. “We offer premium content,” [&hellip[...]
Follow up: Casino gaming could create 7,600+ jobs
Five proposed casinos, sports wagering and online casino gaming would directly create about 7,600 jobs, according to projections released in late November by the Joint Legislative Audit and Review Commission. However, the five casinos combined would generate $367 million in net annual state tax revenue — less than the Virgin[...]
Deep-water terminal sold for $8.15 million
A 55-acre deep-water terminal in Chesapeake has been sold to Norfolk-based Ruth Industrial LLC for $8.15 million, Cushman & Wakefield | Thalhimer announced this week. The property at 700 Rosemont Ave. includes about 60,000 square feet of industrial space and a 400-foot concrete pier. The seller is OEP Rosemont LLC, based in [...]
Williamsburg shopping center purchased for $12.2M
Williamsburg shopping center Courthouse Commons has been purchased for $12.2 million by Baltimore-based Hamilton Park Limited Partnership, Harvey Lindsay Commercial Real Estate announced Tuesday. The 48,650 square-foot property located on Monticello Avenue near William & Mary is home to The Fresh Market, Starbucks, franchise exercise studio Pure Barre and smaller retailers. It was sold by […][...]
Chesapeake-based Volvo Penta promotes two executives
Chesapeake-based Volva Penta of the Americas appointed Yichen Gu to vice president of parts and accessories and promoted Marcelo Puscar to vice president of marketing. Both executives will be based in the Chesapeake office, the engine manufacturer announced Tuesday. Gu will assume his position in March 2020 and will plan and direct parts and accessory […]
