Richmond
Redskins Moving to $10M Richmond Training Center in July
The Washington Redskins will change their summer training camp this year. The NFL team will move from Ashburn to a new, state-of-the-art facility in Richmond.
Clayco Details Plan for $110M Richmond Office Tower
Clayco has announced on January 30 a proposal to build Gateway Plaza, a new office building in the heart of Richmond’s business district. The Chicago-based national development and building firm has been active in Virginia. It recently completed Amazon’s new 1.1 million square-foot distribution center in Dinwiddie County
Gateway Plaza will be located between 8th and 9th Streets and Canal Street, in downtown Richmond. Clayco will build it on an existing 1.1-acre surface parking lot. Initial plans call for a 15-story building with 261,000 square feet of office space, more than 10,000 square feet of first-floor retail space and 520 parking spaces. Clayco is also looking into the possibility of expanding the project by up to six floors. Gateway Plaza will represent an investment of over $110 million. The project is designed to achieve LEED Gold certification
Crosland Southeast Unveils $60M M-F Project at Stoneridge
Demand for apartments in the Richmond area is strong and getting stronger. And some developers have rushed in to meet this demand.
Crosland Southeast announced on January 22 it will start construction on 600 apartments this year, on the site of the former Cloverleaf Mall in Chesterfield. The four-building complex will be built in the Stonebridge development at Midlothian Turnpike and Chippenham Parkway, next to the to the Kroger Marketplace. Crosland Southeast is also the developer of the 83-acre, 400,000-square-foot Stonebridge project.
The urban-style apartment complex will cost $60 million according to Virginia Business. It will offer studio and one- and two- bedroom apartments as well as 27,000 square feet of retail space. The Charlotte, North Carolina-based developer expects to have the first units ready for occupancy by mid-2014. Crosland Southeast will team up with Virginia Beach-based Boyd Homes on the project.
Landmark Virginia Beach Hotel Hits the Market in Family Feud
The Cavalier Hotel, a Virginia Beach landmark, is for sale. CBRE | Hotels has been retained to market the historic hotel that was once visited by presidents and movie stars. According to Virginia Beach city records, the property is assessed at $34.25 million. However, court records show it is worth around $41 million.
The Cavalier complex sits on 21.2 acres of land and includes two hotels, the Cavalier on the Hill and the Cavalier Oceanfront, and a conference center. It provides more than 50,000 square feet of meeting and function space and features such facilities as indoor and outdoor pools, outdoor tennis courts, a fitness center, and a below-ground parking garage. An owner/manager residence, employee housing and automobile repair garage are also located on the property.
Sheraton Norfolk Waterside Heads to Auction Block Dec. 20
The Sheraton Norfolk Waterside Hotel, one of Norfolk’s most prestigious lodgings, will be auctioned off on December 20.
Rolls-Royce Plans $136M Plant on Prince George Campus
Rolls-Royce, the global power systems company, has revealed plans to build a $136 million advanced manufacturing facility at Rolls-Royce Crosspointe in Prince George County.
Furniture Mart Leaves Lynnhaven, Takes 40 KSF at Regency Hilltop
Furniture Mart has leased 40,000 square feet of retail space at the Regency Hilltop Shopping Center in Virginia Beach.
Excel Trust Pays $161M for Retail and M-F space at West Broad Village
In a $161 million deal, San Diego-based Excel Trust Inc. has acquired West Broad Village in Richmond. Excel also acquired five retail centers in Orlando from Unicorp National Development for a total investment of $263 million, Virginia Business reports
New Kroger Store Launches $250M Hampton Roads Push
Kroger Co. broke ground Oct. 4 on a $25 million project in Virginia Beach that will be the grocery chain’s first Marketplace-brand store in the Hampton Roads region and the second in the state.
Portsmouth Judicial Center Opens Under Budget, Ahead of Schedule
Portsmouth Judicial Center officially opened for business Monday after two years of construction. Completed on time and under budget, the $78 million complex brings together three major courts—Circuit, General District and Juvenile and Domestic Relations—under one roof.