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$59.6M hydroponic operation coming to Va. Beach
Agriculture startup Sunny Farms LLC plans to build a $59.6 million, 32-acre hydroponic operation in Virginia Beach — creating 155 jobs and one of the largest greenhouses on the East Coast, Virginia Gov. Ralph Northam announced Tuesday. The facility, which will cover 1.2 million square feet when completed in three years, will be located at […]
Virginia Beach office property sells for $1M
CR Assets LLC has purchased a 5,040-square-foot office building in Virginia Beach for $1 million, Cushman & Wakefield | Thalhimer announced on Monday. Located at 4598 Broad St., the building will serve as the future corporate headquarters of Canzell Realty. It was sold by Broad Street Associates. The sale closed on April 8. [...]
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 […]
Hampton Roads bank receives regulatory approval
Integrity Bank for Business, a new bank forming in Virginia Beach, has received all necessary regulatory approvals to open for business as a bank, it announced Wednesday. The approvals obtained include: the issuance of a Virginia state bank charter from the Virginia State Corporation Commission and the Virginia Bureau of Financi[...]
International logistics company announces $61M Norfolk expansion
Katoen Natie Norfolk Inc., a plastics and polymers warehousing and distribution company, plans to expand its operation in Norfolk, investing $61 million and creating 35 jobs, the governor’s office announced Tuesday. A subsidiary of Belgian logistics service provider Katoen Natie, the Norfolk company was established in 2011 at the former Ford Motor Co. assembly plant […]
Chesapeake senior community acquired for $57.75M
Chesapeake Crossing, a 597-unit mixed-income senior housing community in Chesapeake, has been purchased by Los Angeles-based Standard Communities, the affordable housing division of Standard Companies. According to Wink Ewing, managing director of investment sales for NorthMarq, Chesapeake Crossing sold for $57.75 million. The total capitalization of the transaction was approximately $68 million. Located at 1921 […][...]
Construction to start in May on $66M Pinnacle apartments in Va. Beach
Virginia Beach-based Breeden Co. has scheduled a May 7 groundbreaking date for The Pinnacle, its upcoming $66 million luxury apartment complex at the Oceanfront. Located at 521 31st St., The Pinnacle will offer 240 one-, two- and three-bedroom apartments on the site of a former Farm Fresh grocery store that closed in 2018. Const[...]
Chesapeake industrial building sells for $2.4M
Memphis, Tennessee-based heavy lifting and hauling company Barnhart Crane and Rigging Co. has purchased a 34,312-square-foot industrial building on 4.79 acres in Chesapeake for $2.4 million. The property is located at 835 Wilson Road. S. L. Nusbaum Realty Co.’s Ben Leon and Sam Rapoport represented the seller, Chesapeake-based Burton Lumber Corp. Subscribe to Virginia Business. […]
Hunton Andrews Kurth hires Hampton Roads government relations director
Former Norfolk Commissioner of Revenue C. Evans Poston Jr. has been hired by Hunton Andrews Kurth LLP to expand its public affairs and strategies consultancy to the Hampton Roads region, the firm announced April 6. Poston, who will serve as the firm’s government relations director for Hampton Roads, reports to Todd P. Haymore, managing director […]
Sonabank and parent company rebrand as Primis
A new vision for the company prompted Sonabank to rebrand itself as Primis Bank, company president and CEO Dennis J. Zember Jr. said Wednesday in a statement about the change. “The new vision centers around being innovative in the way we deliver more meaningful results to our customers and our shareholders,” he said, “and doing […]
Military Circle redevelopment could include arena
Four groups — including mid-Atlantic developers, entertainment and sports figures, concert promoters and arena operators — are competing for a chance to redevelop Norfolk’s aging Military Circle Mall into a mixed-use community. Overhauling the struggling mall has long been on the city’s to-do list, but the project was ju[...]
$68M Mosaic apartment tower coming to Chesapeake’s Summit Pointe
Construction will begin April 1 on Mosaic, a $68 million, six-floor mixed-use tower coming to Chesapeake’s Summit Pointe development, according to a March 25 announcement from Summit Pointe Realty LLC. Mosaic is a continuation of the second phase of the Summit Pointe mixed-use development, which is located on 69 acres in Chesapeake’s Central Business District. […]
