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Hampton Roads housing market appears to stabilize
The Hampton Roads housing market appears to be stabilizing, according to a new report from the Real Estate Information Network Inc. (REIN). “We expect 2023 to be similar to pre-pandemic years where inventory increases in the spring and summer, and as long as buyers have inventory to choose from, they’re going to shop for hom[...]
Naval operations building in Suffolk sells for $33M
The U.S. Fleet Cyber Command Center of Operations, a 114,045-square-foot building in Suffolk, has changed ownership. The building, part of a secure naval operations campus, sold for $33.25 million, according to Colliers Government Solutions. It is located at 115 Lake View Parkway in Suffolk. The seller of the building is Salus G[...]
Two Hampton Roads marketing agencies to merge
Norfolk-based WB Marketing’s parent company has acquired majority interest in Virginia Beach-based marketing and communications firm Meridian Group and will merge the two into one agency, Meridian Group announced Tuesday. Mike Matacunas from Norfolk-based private investment firm Five Hill Capital — WB Marketing’s parent — acquired the majority interest from Meridian Group founder Joe Takach, […][...]
Layne, Perry named to TowneBank corporate board
Suffolk-based TowneBank has named Aubrey L. Layne Jr., executive vice president of governance and external affairs for Sentara Healthcare, and Suburban Capital founder and CEO Christopher Perry to its corporate board of directors, the bank announced Tuesday. Layne, who chairs the Virginia Port Authority’s board of commissioner[...]
Ship repair contractor expanding Norfolk presence
Advanced Integrated Technologies (AIT), a ship repair contractor for the Navy, Coast Guard, Military Sealift Command and U.S. marine, industrial and commercial industries, will invest $500,000 to expand its Norfolk operations and add 76 jobs, Gov. Glenn Youngkin announced Friday. The Norfolk-based company will increase capacity at its location in Norfolk Industrial Park, off Ingleside […]
Feds say Chinese cranes used at Port of Va. could be spy tools
The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major sharehold[...]
Bon Secours names new Maryview hospital president
Shane Knisley will be president of Bon Secours Maryview Medical Center in Portsmouth starting March 13, the health system announced Monday. Knisley joined Bon Secours in 2018, working in its Cincinnati market. He was most recently president of Mercy Health – Clermont Hospital in Batavia, Ohio. Prior to that, he served as chief[...]
Divaris Group acquires N.C. mixed-use leasing, advising firm
Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday. Financial terms and other details of the acquisition were not disclosed. The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris[...]
Hickory Point Townhomes sells for $25M in Newport News
Arlington-based Ritz Banc Group, a real estate, private equity and alternative asset management firm, bought Hickory Point Townhomes, a 175-unit apartment complex at 399 Hickory Point Blvd. in Newport News, from New York-based AION Partners for $25 million, Cushman & Wakefield announced Monday. The new owner pland to conti[...]
S.L. Nusbaum promotes retail leasing exec to VP
S.L. Nusbaum Realty Co. has promoted Maggie Spillane to vice president, the Norfolk-based realty company announced Tuesday. Spillane joined the company’s shopping center leasing department in 2020 as an associate, providing landlord representation and leasing services to a variety of retail centers in Hampton Roads. Prio[...]
Waterford Apartments sells for $55M in Va. Beach
Waterford Apartments in Virginia Beach is under new ownership, after Blackfin Real Estate Investors LLC acquired the 376-unit apartment complex for $55.35 million, the real estate investment company announced. Located off Shore Drive near Lake Smith, the one- and two-bedroom apartment community was built in 1980 and previously [...]
Newport News office building sells for $2.87M
A Newport News office building has sold for $2.875 million, Cushman & Wakefield | Thalhimer announced in February. Sashe LLC purchased the 24,526-square-foot office building at 11839 Rock Landing Drive in Oyster Point Park. Cushman & Wakefield | Thalhimer declined to disclose the seller. The building is currently occupie[...]
