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..
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.
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.
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..
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..
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..
VIRGINIA BEACH, VA. — Divaris Real Estate Inc. has arranged a 39,000-square-foot office lease within Town Center of Virginia Beach, a 17-block mixed-use development in Virginia Beach. The tenant, Mythics Inc., an Oracle systems integrator and consulting firm, will occupy the top floor and majority of the eighth floor of a LEED-certified office building located at 4525 Main St. Mythics retained Vivian Turok of Divaris Real Estate to represent the firm in its search for new corporate..
MCLEAN, VA. — The Meridian Group has purchased Tysons Metro Center, a 763,965-square-foot development of Class A office space in McLean’s Tysons district, roughly 17 miles west of Washington, D.C., from an affiliate of Beacon Capital Partners for $227 million. The portfolio consists of four buildings: Tysons Metro Center I, a 168,006-sqaure-foot, 12-story building constructed in 1984 and renovated in 2012, features a rooftop terrace with outdoor seating, a fitness center and an..
ALEXANDRIA AND FAIRFAX, VA. — Bethesda, Md.-based First Potomac Realty Trust has sold Plaza 500, a 502,830-square-foot industrial property located at 6295 Edsall Road in Alexandria. Matan Cos. purchased the asset, which was 90.5 percent leased as of Sept. 30, 2016, for $75 million. First Potomac has also sold One Fair Oaks, a 214,214-square-foot office building located at 4114 Legato Road in Fairfax, for $13.7 million. CACI International, an information technology firm, fully occupied the..
FALLS CHURCH, VA. — Corporate Office Properties Trust (COPT), a publicly traded office REIT, has sold $53 million of suburban assets in Northern Virginia. The REIT sold a 190,500-square-foot office building located at 3120 Fairview Park Drive in Falls Church’s Merrifield submarket for $39 million. The asset was 87 percent leased as of Dec. 31, 2016. The company also sold 5.3 acres of land in northern Virginia for $14 million. COPT has an additional $10 million of asset sales under contract..