Richmond
Virginia Beach M-F Assets Command $73M for Harbor Group International
Harbor Group International, LLC (HGI), a private real estate investment and management firm, has sold two apartment communities in Virginia Beach in the last two months. The two properties total 730 units and were sold for a combined $72.5 million.
Redskins Open $10M Training Center in Richmond
The Bon Secours Washington Redskins Training Center is finally open. Peter Bernard, CEO of Bon Secours Virginia Health System, Richmond Mayor Dwight Jones, Governor Bob McDonnell and legendary Redskins QB Joe Theismann spoke at the grand opening ceremony that featured performances from the Richmond Public Schools All-City Marching Band, American Idol hero Elliott Yamin and skydivers.
Shamin Acquires 237-Key Holiday Inn in Richmond, Rebrands It as DoubleTree
Shamin Hotels, one of the largest hotel owners in the Richmond area, has added another hotel to its growing portfolio. In a deal finalized on July 1st, Shamin Hotels has purchased the 237-room Holiday Inn Koger Conference Center. Following the acquisition, the property was rebranded as a Doubletree by Hilton hotel.
DoubleTree by Hilton Williamsburg Debuts After $8.4M Renovation
The DoubleTree by Hilton Williamsburg hotel opened last week in Historic Williamsburg, a culture-rich area which represents Virginia’s largest tourist attraction. The hotel’s location, modern amenities and offerings are expected to boost its appeal to both leisure and business travelers.
Gumenick Unveils Name for West End Project: Libbie Mill
Gumenick Properties, an award-winning real estate development and management company based in Henrico, is developing an 80-acre mixed used neighborhood in Richmond’s West End. Recently, the company announced a new name for the project: Libbie Mill.
USAA to Leave Norfolk, Move 500 Employees to Chesapeake
USAA plans to move over 500 employees from Norfolk to Chesapeake by the end of the year. The San Antonio-based financial services company will move from its mid-Atlantic regional office at 5800 Northampton Blvd.
HDL Launches 95 KSF Phase 2 of HQ Expansion in Richmond
Health Diagnostic Laboratory, Inc. (HDL), one of the nation’s fastest-growing companies, started construction this week on Phase II of its headquarters expansion project in Richmond’s Virginia BioTechnology Research Park. Phase I of the project was completed in February.
Patricio Enterprises Leases 427,000 SF; Virginia Beach Properties Hit the Market
Patricio Enterprises, a defense contractor based in Stafford County, has leased 427,115 square feet of industrial space at 2705 Commerce Road in Richmond from Alleghany Warehouse Company, Inc. The deal represents one of the largest industrial leases of the year. CBRE’s Richmond office brokered the transaction.
Armada Hoffler Kicks Off $89M Mixed-Use Tower in Virginia Beach
Armada Hoffler, one of the Mid-Atlantic Region’s dominant, full-service real estate and construction organizations, broke ground last week on the new 794,000 square foot Main Street Tower, in Virginia Beach. The groundbreaking ceremony featured Virginia Governor Robert F. McDonnell and Virginia Beach Mayor Will Sessoms. Tom Winborne, CEO of Clark Nexsen, and Lou Haddad, President and CEO of Armada Hoffler, also spoke about the project.
Gold Key/PHR, Norfolk Strike Deal for $126M Hotel, Convention Center Complex
The city of Norfolk has announced last Friday it has reached an agreement with Gold Key/PHR Hotels & Resorts to build a new hotel, conference center and parking facility downtown. The total cost of the project is estimated at $126 million.