Richmond
Rouse to Buy Chesterfield Towne Center From Macerich as Part of $293M Deal
December is Gifts Month, and one Richmond-area shopping center is getting ready to receive a very special present: a new owner. The Chesterfield Towne Center is part of a $292.5 million deal between Santa Monica, California-based Macerich and Rouse Properties of New York City.
Oceaneering International Plans Move to New 154,000-SF Chesapeake Facility
Good news for the city of Chesapeake. One of the area’s major employers has announced its plans to remain in the area and expand in a new location, creating approximately 70 new jobs in the process and retaining over 460.
Hunt, TCG Tapped for Portsmouth Affordable Housing Project
The Portsmouth Redevelopment and Housing Authority has selected the Hunt Companies, Inc. and TCG Development Advisors, LLC for the redevelopment of the low-income housing neighborhood of Lincoln Park, in the City of Portsmouth, Virginia.
Shamin Hotels Buys 700 Building for $7M; Plans to Plant 2 Hilton Flags
By Adrian Maties, Associate Editor The 18-story office building at 700 East Main St. in Richmond’s central business district has experienced hard times in recent years, but it about to get a new lease on life. Shamin Hotels, the Richmond region’s largest hospitality operator, has acquired the 181,000-square-foot building for $7 million and plans to […]
Shamin Hotels Buys 700 Building for $7M, Plans to Plant 2 Hilton Flags
The 18-story office building at 700 East Main Street in Richmond’s Central Business District failed to lease any space to new tenants in recent years but it seems it is about to get a new lease on life. The property was sold to Shamin Hotels, the Richmond region’s largest hotel operator, and will be converted into two Hilton-branded hotels.
VCU Plans March Kickoff for $51M Library Upgrade, Expansion
Virginia Commonwealth University’s James Branch Cabell Library is getting a makeover. A $50.8 million construction project will renovate and expand the more than 40-year-old library on the Monroe Park Campus. Work will start next March and is expected to be completed in September 2015.
Cushman & Wakefield | Thalhimer Tapped to Market Philip Morris Operations Center
The Philip Morris USA Operations Center Facility remains on the market, but with a different sales agent. Cushman & Wakefield | Thalhimer has been selected to market the property, replacing CBRE.
Clayco Breaks Ground on $110M Downtown Office Project
The Richmond office market further stabilized during the first half of the year across all submarkets and experienced a decrease in vacancy rates to 13.6%, according to a report by CBRE. Good news for the city of Richmond and great news for developers such as Clayco, who officially started construction earlier this month on Gateway Plaza, Richmond’s newest high-rise office building. The groundbreaking ceremony was attended by both Clayco and city officials.
Dominion Packaging Pays $9M for Former Mazda Warehouse
Dominion Packaging, a local packing company, recently acquired the former Mazda warehouse at 5700 Audubon Drive, near the Richmond International Airport. 5700 Audubon 2007, LLC, an affiliate of New Jersey-based Hampshire Real Estate Companies, sold the property for $9 million.
Cole Pays $81M for New Amazon Facility in Chesterfield County
Amazon’s massive Chesterfield County fulfillment center opened last October, bringing over 1,000 jobs to the area. Now, after just 10 months of activity, it was acquired by an affiliate of Cole Real Estate Investments.