Recent commercial real estate sales in Virginia

Central Virginia

• An 8,540-square-foot mixed-use building in Lynchburg sold for $1.3 million. Built in 2018, the property, located at 1285 Enterprise Drive,  includes three two-bedroom, two-bathroom apartments and two first-floor commercial suites, both under long-term leases. It was 100% occupied at the time of sale. Virginia Beach-based Anjuna LLC bought the property from FOF LLC. Clay Taylor of Cushman & Wakefield | Thalhimer’s Capital Markets Groip out of Roanoke handled the sale.
• Eight acres of land at 9225 Old Cool Springs Road in Hanover County sold for $1.2 million. The buyer, Denver-based Nexcore Group,  purchased the land, with plans to develop an assisted living facility at the site. David M. Smith of Cushman & Wakefield | Thalhimer represented the buyer.
• Magnolia Wash and Express Property Holdings LLC purchased 1880 Stavemill Crossing Lane for $1.1 million. The property is located in Powhatan County and sits on 2.08 acres. Peter Vick and Harrison Hall represented the seller, Stavemill II LLC.

Eastern Virginia

• An office building in Norfolk’s Ghent neighborhood at 501 W. 21st St. sold for $3.46 million. OMD Enterprise LLC purchased the 14,762-square-foot building from TowneBank as an investment and future home of its corporate offices. The three-story office was built in 2011 and is 100% occupied by ABNB Federal Credit Union, Nusbaum Insurance Agency and Rose & Womble Chandler Property Management LLC. Rob Wright of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the buyer.
• A 34,607-square-foot flex building in Norfolk sold for $2 million. 1000 City Hall LLC sold the building located at 1000 East City Hall Ave. to Catholic Diocese of Richmond Bishop Barry Knestout.
• A 16,980-square-foot office building in Virginia Beach sold for $1.8 million. The property, on 1.49 acres at 5511 Princess Anne Road, was sold by B&W Properties to Glen DeVere Building LLC as an owner occupant investment. Janet Whitbeck and Josh Fulton of Cushman & Wakefield handled negotiations on behalf of the seller.
• A 13,400-square-foot industrial building on two acres in Chesapeake sold for $1.4 million. The property is located at 916 Executive Court and was sold by Cliff Sipe to J. A. Maks LLC. Tony Weiss of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the buyer and the seller.