Richmond
Chesapeake Waterfront Property Changes Hands
A large industrial property in Chesapeake has recently changed hands. Hampton Roads Integrated Bioenergy Complex has purchased the former Nova Chemical Plant for an undisclosed price.
First Potomac Realty Trust Sells Richmond Portfolio For $60M
First Potomac Realty Trust is leaving the Richmond area. In a transaction which closed last week, the Maryland-based REIT sold its remaining properties in the region. Although First Potomac did not reveal the name of the buyer, it did say that the portfolio changed hands for a total of $60.3 million.
Monument Buys Richmond M-F Property
Interest in Virginia multifamily properties continues to stay strong. In the past few months, investors have acquired several apartment communities all over the state. The latest transaction took place in the healty Richmond market.
Value Place Opens Virginia Property No. 8
Value Place, the nation’s largest economy extended-stay hotel brand, has announced earlier this month the opening of a new hotel in Virginia Beach. The newly-constructed property is the brand’s eighth hotel in the state of Virginia. Other locations include Chesapeake, Richmond, Gainesville, or Manassas.
Affordable Housing Project Advances in Chesapeake
More affordable housing is coming to Chesapeake. The Virginian-Pilot reports that the Chesapeake City Council voted unanimously last week to approve $13.5 million in tax-exempt revenue bonds from the Chesapeake Redevelopment and Housing Authority, for the Catalina Crossing affordable housing development.
New Clay House to Get $12M Makeover
Richmond’s New Clay House is about to get a makeover. On Monday, February 23, the Richmond City Council and Planning Commission approved a project that will renovate and expand the permanent housing facility for the homeless.
Indoor Skydiving Lands in Virginia Beach
The state of Virginia now has its very own vertical wind tunnel. iFLY Va Beach Indoor Skydiving opened last week, bringing the most advanced wind tunnel technology in the world to Virginia Beach.
Verris Capital, Next Realty Grab Neighboring Retail Assets
Last week I wrote about the sale of Richmond’s Regency Square Mall to Thalhimer Realty Partners Inc. and the Rebkee Co. Now, news has surfaced that another retail property in the area has recently changed hands.
Thalhimer Realty, Rebkee Eye Makeover for Aging Richmond Mall
Thalhimer Realty Partners Inc. has teamed up with The Rebkee Company to acquire one of Richmond’s most important commercial retail properties, the Regency Square Mall. The new owners now plan to renovate the mall.
Breeden Launches Robust 2015 Pipeline with 2 Projects
The Breeden Company has started work this month on two new apartment developments in the Hampton Roads area. The two projects represent a total investment of $55 million and will deliver almost 300 new apartments to the region.