REBusinessOnline

Virginia

Jefferson Apartment Group to Develop High-Rise Multifamily Tower in Metro D.C.

ARLINGTON, VA. — Jefferson Apartment Group has acquired a 0.6-acre site at 40000 Fairfax Drive in Arlington’s Rosslyn-Ballston area for the development of a new high-rise apartment tower. The 22-story property will be situated at the corner of Fairfax Drive and North Quincy Street and feature 264 below-grade parking spaces and 8,260 square feet of ground-level retail space. The site is approved for up to 330 residential units. Planned amenities at the yet-to-be-named property include a..

April 19, 2017

Alamo Drafthouse Cinema to Open at Stonebridge at Potomac Town Center in Metro D.C.

WOODBRIDGE, VA. — The JBG Cos. has signed Alamo Drafthouse Cinema to open its second theater in northern Virginia at Stonebridge at Potomac Town Center in Woodbridge, roughly 23 miles south of Washington, D.C. Spanning eight screens and 865 seats, the dine-in movie theater chain will open next summer or early fall. JBG will develop a Town Square in front of the new theater that will include green space for events and typical park use. Austin-based Alamo Drafthouse Cinema operates 25 locations..

April 14, 2017

Virginia Government Agency Leases 81,553 SF in Downtown Richmond

RICHMOND, VA. — The Virginia Department of Environmental Quality (DEQ) has leased 81,553 square feet of office space in downtown Richmond. The agency will occupy four floors at Bank of America Center, an office building located at 1111 E. Main St. With the Virginia DEQ lease, the office building is 88 percent leased to tenants including the Virginia Cable Telecommunications Association, Haneberg Hurlbert PLC and the Virginia Bar Association. Malcolm Randolph and Scott Durham of CBRE |..

April 5, 2017

LaSalle Hotel Properties Sells Metro D.C. Resort for $133M

LEESBURG, VA. — LaSalle Hotel Properties has sold Lansdowne Resort, a 296-room hotel and resort located at 44050 Woodridge Parkway in Leesburg, about 33 miles from Washington, D.C. An undisclosed buyer purchased the property from LaSalle Hotel Properties for $133 million. Situated along the Potomac River in Northern Virginia, the property features 55,000 square feet of meeting space, Spa Minerale, The Golf Club at Lansdowne with 45 holes of golf, a health club and fitness center, indoor lap..

April 4, 2017

Marcus & Millichap Brokers $23.6M Sale of 7-Eleven Portfolio in Virginia

HAMPTON, VA. — Marcus & Millichap has brokered the $23.6 million sale of a nine-property 7-Eleven portfolio located in the Tidewater region of Virginia. Three of the 7-Eleven properties are located in Hampton, and two are in Williamsburg. The remaining properties are located in Poquoson, Newport News, Gloucester and Surry. Mark Taylor, Derrick Dougherty and David Becattini of Marcus & Millichap represented the seller, a privately held entity, and procured the buyer, an unnamed REIT.

March 16, 2017

Columbus Pacific Acquires Student Housing Community Near University of Virginia

CHARLOTTESVILLE, VA. — Columbus Pacific has acquired The Pavilion at North Grounds, a 528-bed student housing community located near the University of Virginia campus in Charlottesville.

 The acquisition was financed with a $58.1 million, 10-year, fixed-rate loan arranged by Brian Eisendrath and Cameron Chalfant of CBRE. Columbus Pacific’s planned renovations for the community include new pool furniture; refreshments to the pool area; the addition of an outdoor dog park; and..

March 10, 2017

Regency Centers Begins Construction on $44.5M Wegmans-Anchored Shopping Center in Metro D.C.

CHANTILLY, VA. — Regency Centers Corp. has broken ground on The Field at Commonwealth, a $44.5 million, 180,000-square-foot shopping center located at the intersection of U.S. Highway 28 and Westfields Boulevard in Chantilly, roughly 25 miles west of Washington, D.C. The project will be anchored by a 120,000-square-foot Wegmans, a Rochester, N.Y.-based chain that operates large, upscale supermarkets. Regency Centers plans to deliver the shopping center in 2018.

March 9, 2017

Edens, Gables Residential Break Ground on Mixed-Use Project in Alexandria

ALEXANDRIA, VA. — Edens and Gables Residential have broken ground on a new mixed-use project located at 530 First St. in Alexandria. The groundbreaking ceremony was attended by principals of Edens and Gables Residential, as well as Alexandria Mayor Allison Silberberg and members of the city government. The project will include 232 apartment residences and 50,000 square feet of commercial space. The property will also feature an enhanced streetscape, public art on-site and a Capital Bikeshare..

March 9, 2017

Finmarc Purchases 15-Building Industrial Portfolio in Northern Virginia for $58M

WOODBRIDGE AND FREDERICKSBURG, VA. — Finmarc Management Inc. has purchased a 15-building, 750,000-square-foot industrial portfolio in northern Virginia’s I-95 corridor from Stewart Investment Co. for $58 million. Contained primarily within the Featherstone Industrial Park in Woodbridge and including a property in Fredericksburg, the portfolio was 91 percent leased at the time of sale to more than 25 tenants, including Coleman American Moving Services, Joe Moholland Moving Inc., The United..

March 6, 2017

Lingerfelt CommonWealth Sells Marriott Hotel in Metro Richmond for $38.5M

GLEN ALLEN, VA. — Lingerfelt CommonWealth Partners LLC, a Richmond-based commercial real estate investment firm, has sold the 243-room Richmond Marriott Short Pump for $38.5 million. The hotel is located at 4240 Dominion Blvd. in Glen Allen. The buyer, a partnership of regional investors, has retained Commonwealth Lodging Management, Lingerfelt CommonWealth’s hotel management affiliate, to operate the hotel. In October 2015, Commonwealth Lodging oversaw an $11 million renovation of the..

March 2, 2017