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Shamin Hotels Buys 700 Building for $7M; Plans to Plant 2 Hilton Flags

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…

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Shamin Hotels Buys 700 Building for $7M, Plans to Plant 2 Hilton Flags

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…

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VCU Plans March Kickoff for $51M Library Upgrade, Expansion

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.…

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Cushman & Wakefield | Thalhimer Tapped to Market Philip Morris Operations Center

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.…

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Cole Pays $81M for New Amazon Facility in Chesterfield County

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.…

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Virginia Beach M-F Assets Command $73M for Harbor Group International

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.…

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Redskins Open $10M Training Center in Richmond

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…

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Shamin Acquires 237-Key Holiday Inn in Richmond, Rebrands It as DoubleTree

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…

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DoubleTree by Hilton Williamsburg Debuts After $8.4M Renovation

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.…

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Greystone Funds $6 Million Acquisition of Portsmouth M-F Complex

Greystone Funds $6 Million Acquisition of Portsmouth M-F Complex

Greystone, a financial services and private investment group with headquarters in New York, announced this week it has closed on a $6 million Delegated Underwriting and Servicing loan from Fannie Mae. The loan will be used for the acquisition of Cedarfield at Churchland Apartments in Portsmouth, Virginia.…

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Gumenick Unveils Name for West End Project: Libbie Mill

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.…

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USAA to Leave Norfolk, Move 500 Employees to Chesapeake

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.…

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