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Armada Hoffler to Redevelop Williamsburg Outlet Mall

Armada Hoffler to Redevelop Williamsburg Outlet Mall

Armada Hoffler Properties, Inc., a publicly traded real estate investment trust based in Virginia Beach, has announced last week the newest project in its next generation development pipeline. The company has formed a joint venture with Vistacor LLC. Together they will develop a grocery-anchored shopping center in Williamsburg, Virginia. Armada…

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Mayor Jones Announces $10M Grant for Final Phase of Main Street Station Renovation

Mayor Jones Announces $10M Grant for Final Phase of Main Street Station Renovation

The city of Richmond has been working for more than 20 years to rehabilitate the Main Street Station, one of downtown’s most visible landmarks, and turn it into a multimodal transportation center that will serve Amtrak, buses, shuttles, taxis and alternative modes of travel. Now, the renovation project is nearing…

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Virginia Beach Joint-Use Library Wins LEED Gold Certification

Virginia Beach Joint-Use Library Wins LEED Gold Certification

Ground was broken on Virginia Beach’s unique Joint-Use Library in June, 2011. The Tidewater Community College teamed up with the city of Virginia Beach on the $43 million project. After two years of construction, the library opened on August 17, 2013. Recently, it has received LEED Gold Certification from the…

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Norfolk’s 3rd DoubleTree Opens After Makeover, Rebranding

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…

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Miller Associates, Spy Rock Add 334 Units to Richmond’s M-F Boom

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…

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Zirpoli/Perrine Plans $40M Mixed-Use Project on Ocean View Ave.

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…

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Strategic Storage Trust Pays $6.7M for Hampton Self-Storage Facility

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.…

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Richmond’s Short Pump Submarket Gears Up for Robust 2014

Richmond’s Short Pump Submarket Gears Up for Robust 2014

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…

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Suntex Buys Portsmouth’s Tidewater Yacht Marina

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.…

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USM Unveils $200M Arena Plan for Virginia Beach

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…

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Frontier Financial Buys Chesapeake M-F Complex from Property Capital

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.…

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Coastal Equities Buys Newport News Retail Center from Harbor Group for $12.9M

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…

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