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Chesapeake industrial property sells for $2.9M
2280 Steppingstone LLC has purchased two 12,000-square foot office/warehouse condo buildings from Chesapeake Land Co. LLC for $2.88 million in Chesapeake. The buildings are located at 2278-2280 Steppingstone Square. Geoff Poston of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser. Subs[...]
Virginia Beach medical office building sells for $2.7M
Virginia Beach-based Gwynn-Reed Enterprises LLC has purchased a 10,036-square-foot medical office building on 1.84 acres in Virginia Beach for $2.65 million. The property is located at 1817 Republic Road. Gwynn-Reed purchased the property from Virginia Beach-based Vitruvian Property Group LLC. S.L. Nusbaum Realty Co.’s Chris Zarpas and Chris Devine represented the seller. Subscribe to Virginia […][...]
Hampton industrial property sells for $1.7M
G & V LLC has purchased a 44,76-square-foot industrial building situated on 3.71 acres in Hampton for $1.74 million to open a manufacturing operation. The property is located at 315 E. Street. Clay Culbreth of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser; Robert L. Phillips, Jr., also with […]
Portsmouth apartment property sells for $1M
Portsmouth property management company Doud Realty Services Inc. has purchased the Edison Apartments in Portsmouth for $1 million as part of a 1031 tax-deferred exchange. The 16-unit multifamily property is located at 219-249 Edison Ave. Clark Simpson of Cushman & Wakefield | Thalhimer Capital Markets Group handled the sale [...]
757 economic recovery plan focuses on cooperation
At a Thursday news conference, Hampton Roads regional leaders unveiled a new economic recovery plan for the next two years that focuses on cooperation and resiliency. Hampton Roads Alliance President and CEO Doug Smith presented a report detailing multiple goals for the region to help it recover financially after the COVID-19 pa[...]
ODU researchers: How to avoid Zoom fatigue
Although pandemic workdays for many have been filled with back-to-back Zoom meetings, a sense of belonging has dwindled, according to research published by Old Dominion University and Ohio State University researchers. “Feeling like you belong with the group is so tremendously important on a videoconference, and from our resul[...]
Hampton Inn & Suites in Newport News sells for $9M
Chester-based Shamin Hotels has purchased a 120-room Hampton Inn & Suites in Newport News for $9 million. Shamin purchased the hotel, which it plans to renovate, from Yoder Inn Group LP as an investment. Located at 12251 Jefferson Ave. on approximately 2.65 acres, the hotel consists of 90 rooms and 30 two-room suites. Shamin[...]
Senior living community announced for Virginia Beach
Pembroke Realty Group and Beth Sholom Village have announced a new senior living community in the works for Virginia Beach. Located at the corner of Jeanne Street and Constitution Drive, the 7-story community will have 124 independent living apartments, 20 assisted living apartments and 12 memory support units. Designed by Kahle[...]
Chesapeake office building sells for $7.5M
Virginia Beach-based property management company The Runnymede Corp. purchased Chesapeake office building Crossways Commerce Center IV for $7.5 million on Feb. 8. Located at 1408 Stephanie Way, the 51,209-square-foot building was purchased from Washington, D.C.-based real estate investment company DSC Partners. The flex building is 91% occupied by Leidos Holdings Inc. and 9% occupied by […]
Norfolk’s MacArthur Center may meet the wrecking ball
Downtown Norfolk’s MacArthur Center, a 140-store mall that opened in 1999, may have a future date with a wrecking ball. According to a newsletter released March 2 by Norfolk’s economic development department, a complete teardown of the 1.1 million-square-foot structure is one of three possibilities envisioned for Mac[...]
Huntington Ingalls names new executive VP
Newport News-based Huntington Ingalls Industries announced Friday its board of directors has elected Kari Wilkinson to serve as executive vice president of HII and president of HII’s Ingalls Shipbuilding division, effective April 1. She will succeed Brian Cuccias, who announced his April 1 retirement. Cuccias took on his r[...]
Atlantic Diving Supply awarded $100M federal contract
Virginia Beach-based equipment vendor Atlantic Diving Supply (ADS) been awarded a five-year, $100 million contract from the Defense Logistics Agency (DLA) to deliver patient monitoring technology, associated accessories and training support to military and federal civilian customers. DLA selected ADS from 54 bids the agency received for the firm-fixed-price, indefinite-delivery/indefinite-quantity contract, the U.S. Department of [&hell[...]
