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Va. Beach industrial office park sold for $4.1M
Virginia Beach’s First Colonial office park has been sold for $4.14 million, Cushman & Wakefield | Thalhimer announced last week. The adjoining lots at 205-217 First Colonial Road make up 2.99 acres and include a 37,500-square-foot office/warehouse park. CP Roadrunners LLC purchased the property from Virginia-based Nos[...]
Small uptick in Hampton Roads residential real estate listings
In April 2021, there appeared to be signs that the Hampton Roads region’s low real estate inventory may be on the rise. According to the Real Estate Information Network Inc.’s monthly report on Southeastern Virginia, more listings have been added to the region’s Multiple Listing Service. Last month, there were 3,780 active listings, up from […]
Harbor Group International closes $558M loan obligation
Norfolk-based real estate investment and management firm Harbor Group International LLC has closed a $558 million commercial real estate collateralized loan obligation (CRE CLO), the company announced Wednesday. The deal, HGI 2021-FL1, is the firm’s first CRE CLO, which is a security backed by commercial real estate loans. HGI’s CRE CLO consists exclusively of bridge […]
S.L. Nusbaum hires vice president of human resources
S.L. Nusbaum Realty Co. announced last week that Jennifer Leigh has been hired as the Norfolk firm’s vice president of human resources. She joins Nusbaum from CBRE (later acquired by Colliers) as chief human resources officer, with oversight over their offices in Virginia and North Carolina. Leigh previously worked in human resources at Sentara Healthcare, […]
Colonial Williamsburg Foundation hires educational travel and conferences director
The Colonial Williamsburg Foundation announced Friday that J. Thomas Savage will become its director of educational travel and conferences, effective July 12. Currently, Savage serves as director of external affairs for Winterthur Museum, Gardens and Library in Delaware. “Tom Savage is an internationally known and respected ex[...]
Breeze Airways setting up base in Norfolk
Breeze Airways, a new low-cost airline, will invest $5.2 million to build an operations center in Norfolk, producing 116 jobs, the governor’s office announced Friday. The airline also will offer nonstop flights out of Richmond International Airport and Norfolk International Airport. The Salt Lake City, Utah-based startup c[...]
Smithfield company announces $40M Fort Monroe redevelopment
Smithfield-based Pack Brothers Hospitality LLC on Wednesday announced plans for a conference center, hotel, 500-seat restaurant and an overhauled 300-slip marina on part of Fort Monroe in Hampton. The company plans to invest $40 million in the redevelopment project and has been granted a 40-year ground lease by the Fort Monroe A[...]
Modular housing manufacturer setting up Newport News plant
A modular housing manufacturer plans to establish its first East Coast facility in Newport News, investing $2 million and producing 220 jobs, Gov. Ralph Northam announced Tuesday. A Public Benefit Corporation and Certified B Corporation founded in 2018, indieDwell turns recycled shipping containers into small homes with one to four bedrooms to help solve the […]
Virginia Beach office building sells for $1.9M
Commonwealth Park Executive Center in Virginia Beach has sold for $1.9 million, Colliers announced Thursday. The Class B, two-story building located at 900 Commonwealth Place once housed the WCMS radio studios and currently is 100% occupied. It was built in 1975. The building has 20,180 rentable square feet leased to five tenant[...]
Offshore wind coworking space opens in Norfolk
The growing offshore wind industry in Hampton Roads caught another gust Wednesday with the opening of a coworking and networking space in Norfolk’s World Trade Center. The hub, called the Virginia Offshore Wind Landing — or the Landing, for short — is a joint venture of Old Dominion University’s OpenSeas Technology Innov[...]
Workforce development center opening in downtown Portsmouth
Portsmouth Economic Development is opening a brick-and-mortar resource Friday, aiming to create a public and accessible hub for skills training, career fairs, job applications and Internet access. The 2,000-square-foot office space, called Portsmouth@Work Center, is located in a suite at its downtown headquarters, 200 High St. The idea has been brewing since the fall 2019, […]
Atlantic Broadband announces $7.2 million partnership
Atlantic Broadband has announced a $7.2 million partnership to deliver broadband to more than 1,200 homes and businesses in Caroline, Mathews, Lancaster and Middlesex counties. A $4.2 million grant from the Virginia Telecommunication Initiative pays for the bulk of the project, with $1.5 million coming from Atlantic Broadband and the remaining $1.5 contributed by the […]
