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Va. Beach apartment complex where Pharrell lived sells for $24.5M
The Virginia Beach apartment complex where music superstar Pharrell Williams lived until he was 7 has been sold for $24.5 million to Fairstead, a New York-based real estate company focused on sustainable development and affordable housing. The company announced Thursday that it plans a $15 million overhaul of the Atlantis Apartm[...]
Yorktown’s Duke of York Hotel sells for $3M
The Duke of York Hotel in Yorktown sold for $3 million, M.A. Bowry & Co. announced July 2. Built in 1965, the 57-room, 26,084-square-foot, limited-service hotel is located on the York River. It will remain open as the company renovates it. Crockett Enterprises LLC sold the hotel to a limited liability company connected to M.[...]
James City County industrial building sells for $2.67M
The Design Masters building in James City County sold for $2.67 million, Cushman & Wakefield | Thalhimer announced Wednesday. Tetreault Holdings Inc. bought the 40,000 square-foot-building from Friendship Partner as an investment for their contracting business, The Drying Co./ThermalTec, according to the news release. The in[...]
Old Point National Bank appoints VP operations
Hampton-based Old Point National Bank has appointed Christopher Hobbs as its vice president of operations, the bank announced Wednesday. “We are so pleased to have Chris Hobbs join the Old Point family,” said Susan R. Ralston, executive vice president and chief operating officer for Old Point, in a statement. “[...]
Va. hotel revenues still lagging pre-pandemic levels
Virginia hotel revenues for June 2021 were down 22% compared with pre-pandemic levels in June 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 14%. The average daily rate (ADR) paid for hotel rooms […]
TowneBank acquires Tennessee cabin rental company
Suffolk-based TowneBank acquired Tennessee-based vacation property rental company Venture Resorts Inc. on July 1, the bank announced Monday. Financial details of the transaction were not disclosed. “This is an exciting development for Towne Vacations,” Brian Skinner, president and CEO of Towne Financial Services Group, the d[...]
Northam appoints members to newly created cannabis boards
Virginia Gov. Ralph Northam has appointed members to three newly created oversight boards for the legalization of recreational marijuana, his office announced today. On July 1, Virginia’s adult-use cannabis legislation changes began going into effect. This year, the General Assembly legalized possession of up to one ounce [...]
Breeden Co. names three new executives
The Breeden Co., the Virginia Beach-based real estate firm, announced last week it has promoted two people to become vice presidents, as well as hiring a third person as a vice president. Brenda Karp, currently vice president of Breeden Realty, has been promoted to vice president of business development for the entire company, effective Oct. […]
Newport News hotel sold for $5.3 million
The Comfort Inn hotel at Newport News’ Patrick Henry Mall has been sold for $5.3 million, Grand Bay Advisors announced earlier in July. The 123-room property will still be operated as a Comfort Inn. Virginia Beach-based Omaarav Hospitality purchased the property from Landmark Hotel Group, which is also based in Virginia Beach. Grand Bay Advisors, […]
Sentara Healthcare hires medical director of health equity
Sentara Healthcare has hired Dr. Keith H. Newby as an independent contractor to serve as the system’s medical director of health equity. He will work on expanding plans and initiatives that improve access to health care in underserved neighborhoods, as well as on plans that promote higher COVID-19 vaccination rates among p[...]
Va. Beach KFC building sold for $2.4M
A KFC restaurant in Virginia Beach will become a Cook Out following its $2.44 million purchase by Cook Out – Virginia Beach Inc., Cushman & Wakefield | Thalhimer announced last week. The 2,745-square-foot building at 1010 Independence Blvd. was sold by Cabrillo Mobile Lodge LLC, represented by Dean G. Martin of Thalhim[...]
Hampton corporate campus sells for $1.95 million
Watson’s Petroleum Equipment Service Real Estate LLC, an entity connected with the petroleum service based in Hampton, purchased a 26,214-square-foot office, manufacturing and warehouse campus on 4.45 acres for $1.95 million, Cushman & Wakefield | Thalhimer announced this week. The property at 3130-3301 NASA Drive in H[...]
