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Harrisonburg Dairy Queen sells for $1.15M
A Dairy Queen Grill & Chill in Harrisonburg sold for $1.15 million, Denver-based Blue West Capital announced Thursday. Dairy Queen was the only tenant leased to the property at 78 S. Carlton Street in Harrisonburg. The property sold as a sale-leaseback. The Dairy Queen franchisee will still be able to use the building, but w[...]
Former IKEA warehouse sells for $3.85M in Pittsylvania
A 152,379-square-foot warehouse and distribution facility formerly used by IKEA in Pittsylvania County’s Ringgold area sold for $3.85 million, Cushman & Wakefield | Thalhimer announced Monday. Rick Barker Properties LLC purchased the facility located at 240 Factory Lane — approximately six miles outside of Danville. [...]
Five-story apartment complex to be built in Henrico County
A five-story apartment complex will be built at the intersection of Maywill and Thalbro Streets in Henrico County, Cushman & Wakefield | Thalhimer announced Tuesday. Bristol Maywill Partners LLC purchased the 2.1 acres of land for $2 million from 2001 Maywill LLC. The apartment complex will be part of a mixed-use developme[...]
Managing during crisis
Virginia Business virtually sat down with Craig Halliday, CEO of Dulles-based software company Unanet, which provides project management software, timesheet software, expense reporting software and other human resources software to federal government contractors, architects and engineers. This is part of an ongoing series of con[...]
Williamsburg apartment complex sells for $26.25M
A 224-unit apartment complex in Williamsburg sold for $26.25 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced Friday. The Regency at Longhill apartments are located at 5302 Lane Place Drive, which is less than 3 miles from the Warhill Sports Complex, the Williamsburg Premiu[...]
Henrico strip mall sells for $1.5M
Laurel Park Shopping Center in Henrico sold for $1.5 million, Commonwealth Commercial Partners LLC announced Friday. The strip mall located at the corner of Woodman and Hungary Roads encompasses more than 16 acres of land, and is located less than 2 miles from Reynold Community College. The shopping center’s primary retailer i[...]
TowneBank moving closer to Norfolk Southern Tower purchase
Suffolk-based TowneBank is moving closer to purchasing the 22-story Norfolk Southern Tower, reaching an agreement to purchase a nearby downtown Norfolk parking garage for $8.5 million. TowneBank hopes to close on the parking garage and the Norfolk Southern building this summer, TowneBank spokesperson Joel Rubin said Thursday. T[...]
The ‘stress test’ for data centers
The internet hasn’t blown up — yet. But the primary data center hub of the world — Loudoun County — where more than 70% of all internet traffic passes through the county’s Ashburn area, has seen a 50% spike in daytime broadband consumption since the coronavirus crisis began, says Buddy Rizer, Loudoun County’s e[...]
Radford University off-campus apartments sell for $36.1M
More than 200 apartment units near Radford University sold for $36.1 million, Richmond-based real estate company One South Commercial announced this week. The buildings bought by Highland Apts I LLC, a special-purpose entity (SPE) associated with Reston-based real estate investment firm Willow Creek Partners. Radford-based devel[...]
Contura Energy temporarily closing several Va. mines
The Virginia Department of Mines, Minerals and Energy (DMME) was notified Friday morning that Tennessee-based Contura Energy is temporarily closing nearly all of its coal mines in Virginia in response to coronavirus, DMME spokesperson Tarah Kesterson says. Contura has affiliate mining operations in Pennsylvania, Virginia and West Virginia. Its Virginia facilities including 88 Strip, Long […][...]
Two apartment complexes in Va. Beach sell for $7M+
Two apartment complexes in Virginia Beach have sold for $3.1 million and $4.525 million, respectively, commercial real estate investment company Marcus & Millichap announced this week. The Green Meadows Apartments sold for $3.1 million and the Breezy Meadows Apartments sold for $4.525 million, said Benjamin Yelm, regional ma[...]
Breeden Construction moves HQ, triples office space
Henrico County-based Breeden Construction has moved its headquarters office to an 8,100-square-foot space near Henrico Doctors’ Hospital — tripling its previous office space, the company announced this week. Financial terms of the move were not disclosed. The Class A office space is located at 1700 Bayberry Court, Suit[...]
