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Wytheville apartments, storage facility sells for $4.2M
The Birchwood Apartments and AAA Self Storage properties in Wytheville have sold for $4.2 million, Cushman & Wakefield | Thalhimer’s Capital Market Groups announced last week. The May 14 transaction includes 60 apartments, 139 self-storage units and an 1,800-square-foot office building on adjoining parcels at 125-195 B[...]
Spotsylvania bank building sold for $1.1M
A former Atlantic Union Bank branch office in Spotsylvania County has sold for $1,145,000, Cushman & Wakefield | Thalhimer announced last week. The 3,229-square-foot building at 5831 Plank Road sits on .94 acres. Katy Land Holdings LLC, based in Texas, purchased the building. Will McGoogan, Jamie Scully, CCIM and Berkley Mit[...]
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 […]
HHHunt Corp. invests $247M in Southeast U.S. projects
Richmond-based real estate developer and builder HHHunt Corp. announced last week it has invested $247 million in residential communities in Charlotte and Raleigh, North Carolina, as well as plans to expand in the South Carolina, Nashville and Atlanta markets. With the expansion of the company’s investment in the Southeastern United States, it has announced changes […]
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, […]
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[...]
Richmond panel recommends $600M Urban One casino proposal
The city of Richmond’s casino advisory panel has recommended Silver Spring, Maryland-based Urban One Inc.’s $600 million ONE Casino + Resort proposal to move forward for consideration by City Council and citizens, Mayor Levar Stoney’s office announced Thursday. If Council approves the recommendation and voters [...]
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[...]
Richmond-based GPM Investments closes on ExpressStop purchase
Richmond-based GPM Investments LLC became the nation’s sixth-largest convenience store chain Wednesday, after closing on its acquisition of the ExpressStop chain, including 60 gas station convenience stores in Michigan and Ohio. Financial terms were not disclosed. The acquisition, which was announced in March, adds to GPM’s existing 165 stores in Michigan and nine in Ohio. […]
Richmond Region Tourism program incentivizes hotel meetings
After a year of virtual events and canceled conventions, Richmond Region Tourism has launched a program to attract meetings to Virginia’s capital city and surrounding areas in four key economic development sectors. The initiative, called Meaningful Meetings, also offers financial incentives from $250 to $1,000 to people an[...]
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 […]
