Richmond
Norfolk’s 3rd DoubleTree Opens After Makeover, Rebranding
A new hotel is ready to serve Virginia’s busy Hampton Roads region. On Monday, March 31, DoubleTree by Hilton and Hilton Worldwide announced that the DoubleTree by Hilton Norfolk Airport has opened at 1500 N. Military Highway, in Norfolk. The hotel, formerly the Hilton Norfolk Airport, underwent a multi-million dollar renovation project.
Miller Associates, Spy Rock Add 334 Units to Richmond’s M-F Boom
In its latest apartment market report for the Richmond area, Real Data said demand was at a three year high with more than 1,200 units absorbed over the past six months. Occupancy has reached 94.3%, while the average monthly rent went up to $909 per month. 3,000 apartment units are currently under construction in Richmond as developers are rushing to meet the growing demand.
Zirpoli/Perrine Plans $40M Mixed-Use Project on Ocean View Ave.
A new mixed-use project will bring up to 280 apartments and retail space to the city of Norfolk. On Tuesday, March 18, the City Council approved the sale of 5.737 acres of land at 719 E. Ocean View Avenue to Robert Zirpoli’s Ocean View Properties Inc. The price of the transaction was $3 million.
Strategic Storage Trust Pays $6.7M for Hampton Self-Storage Facility
A self-storage facility located in Hampton, Va. has recently changed hands. Strategic Storage Trust, Inc. (SSTI) has paid approximately $6.7 million for the property at 1343 Big Bethel Road. It is the publicly registered non-traded REIT’s second acquisition in the area.
Richmond’s Short Pump Submarket Gears Up for Robust 2014
By Adrian Maties, Associate Editor Cushman & Wakefield | Thalhimer projects that 2014 will be a good year for the Richmond retail market. As retailers and restaurants plan to grow and expand, a trend that started in 2013 and is expected to continue in 2014, the market will see stepped-up activity. It ended 2013 with […]
Suntex Buys Portsmouth’s Tidewater Yacht Marina
Suntex Ventures LLC, a real estate investment and marina operations company, has recently purchased its second marina property in the Hampton Roads area. After acquiring the the 325-slip York River Yacht Haven in Gloucester Point last year, the Dallas-based company bought Portsmouth’s Tidewater Yacht Marina.
USM Unveils $200M Arena Plan for Virginia Beach
By the end of 2016, Virginia Beach could be home to a new, 18,000-seat multi-purpose entertainment and sports arena, able to host major concerts, sports tournaments, circuses, ice shows, monster truck rallies and many other events. But that’s only if the city accepts a conceptual proposal submitted on Monday, February 17, by a consortium of companies.
Frontier Financial Buys Chesapeake M-F Complex from Property Capital
A Chesapeake apartment complex now has a new owner. Property Capital Group has sold the Marina Point Apartments to an affiliate of Frontier Financial. The price of the transaction was not disclosed. CBRE Hampton Roads, an affiliate office of CBRE Inc., marketed the property.
Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M
A recently renovated shopping center in Hampton Roads has changed hands at the end of January. The Bethesda, Md.-based Greysteel Company has arranged the sale of the Newport Crossing Shopping Center to Coastal Equities Real Estate, a real estate company specializing in investment, development, syndication opportunities and management of retail shopping centers.
Lingerfelt to Develop $20M Medical Facility in Mechanicsville
OrthoVirginia and Bon Secours Richmond Health System announced last week they will soon start work on a new medical facility in Hanover County, on the Bon Secours Memorial Regional Medical Center campus. The new facility will offer orthopedics and sports medicine treatment and rehabilitation services.