STAFFORD, VA — Mid-Atlantic commercial real estate brokerage firm KLNB has arranged multiple retail leases for the Market at Austin Ridge, a shopping center underway in Stafford. The new leases are with Aldi, Texas Roadhouse, Sheetz and Flagship Carwash. Dimitri Georgelakos and Veronica Kamara of KLNB worked on behalf of the undisclosed landlord in the lease negotiations.
SUFFOLK AND CHESAPEAKE, VA. — JLL has negotiated the sale of a four-building industrial portfolio situated near the Port of Virginia in the Hampton Roads region of the Commonwealth. NorthPoint Development purchased the 655,852-square-foot portfolio from an affiliate of Equus Capital Partners Ltd. Bill Prutting, Chris Dale, Craig Childs, Ginna Wallace and Andrew Baquero of JLL represented the seller in the transaction. The sales price was not disclosed. The portfolio comprises distribution facilities located at 6900, 6920 and 6950 Harbour View Blvd. in Suffolk and 2601 Indian River Road in Chesapeake. The properties were built between 2005 and 2012 and were 82 percent occupied at the time of sale to 10 tenants.
POQUOSON, VA. — Berkadia has arranged the $52.4 million sale of The Flats at Legacy, a 176-unit multifamily community located off the coast of Virginia on Bull Island. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Virginia Beach-based Franklin Group, in the transaction. The buyer was Utah-based Ceifa Capital. Situated on 24 acres at 200 Big Woods Drive in Poquoson, the property comprises 176 garden-style apartments across multiple four-story buildings. Units average approximately 1,065 square feet in size, and floor plans range from one- to three-bedrooms. Amenities include a saltwater pool, outdoor grilling stations, modern clubhouse with entertainment lounge and catering kitchen, fitness center, internal café spaces and electric vehicle charging stations.
GAINESVILLE, VA. — Newmark has arranged $975 million in financing for Project Helios, a newly delivered data center development in Northern Virginia. According to national media reports, the data center project is situated within the Gainesville Data Center campus in Prince William County. Jordan Roeschlaub, Christopher Kramer, Chris Lozinak, John Caraviello, Ryan Bub, Andrew Warin and Phil O’Bannon of Newmark arranged the financing through Blue Owl Capital on behalf of the borrower, a joint venture between Affinius Capital and Corscale Data Centers. Project Helios was fully leased at the time of financing to an unnamed cloud service provider under a long-term lease, according to Newmark.
SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on Building 3 at Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The third building will be completed in the first quarter of 2027 and will span a little more than 1 million square feet, making it the largest building within the master-planned industrial park. Buildings 1 and 2, which measure 339,150 square feet and 246,490 square feet, respectively, are completed and ready for lease or sale. In a joint venture partnership with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC, Rockefeller and Matan will deliver 2.4 million square feet of industrial space across five buildings in Phase I of Port 460 Logistics Center. A second phase totaling 2.7 million square feet will follow. Rockefeller and Matan broke ground on Port 460 in September 2024. Brian Devlin, Todd Hughes, Kris Kennedy and Gregg Christofferson of JLL are handling leasing at the property. Earlier this year, A. Duie Pyle, a 101-year-old, family-owned provider of integrated transportation and distribution solutions, purchased a 43-acre development site at Port 460 …
FALLS CHURCH, VA. — Federal Realty Investment Trust has sold Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller in the $58 million transaction. Chris Knight and Evan Parker, also with JLL, secured a five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include Starbucks Coffee, Bank of America and 7-Eleven, as well as recent additions like Honeygrow, Taco Zocalo and Playful Pack. Originally constructed in 1960 and renovated from 2017 to 2019, Barcroft Plaza was 96 percent occupied at the time of sale.
MCLEAN, VA. — Hilton has launched Undergraduate by Hilton, an upper-midscale hospitality brand designed to serve a range of college and university markets. Hilton’s long-term plans for the brand include growing the pipeline of collegiate-themed hotels to 400 to 500 properties, with the first Undergraduate hotel set to open next year. The model will include both new builds and conversions of hotels near college campuses. Guestrooms will be designed to invoke classrooms with adaptable layouts, study corners and functional storage. Common spaces will include lounges, library-inspired social gathering areas, a barista-led, 24-hour market and a bar program by Authentic Hospitality. Undergraduate joins Hilton’s Lifestyle portfolio of properties, which is projected to grow to 700 hotels globally by 2028, including 60 new openings this year. The brand was created following the success of the Graduate by Hilton brand, which is also part of Hilton’s Lifestyle portfolio.
ATLANTA — JLL has arranged the $300 million sale of a six-property industrial portfolio located across five Southeastern states. The facilities in the nearly 1.6 million-square-foot portfolio were fully net-leased to FedEx on long-term agreements at the time of sale. Built between 2022 and 2023, the facilities range in size from 251,000 to 337,000 square feet. The properties are located in Punta Gorda, Fla.; Anderson, S.C.; Myrtle Beach, S.C.; Christiansburg, Va.; Bristol, Va.; and Wingate, N.C. PGIM and Miramar Capital sold the portfolio to a confidential buyer. Britton Burdette, Dennis Mitchell, Luis Castillo, Bill Prutting, Jim Freeman, Maggie Dominguez and Bobby Norwood of JLL represented the sellers in the transaction. “The scale and geographic diversification of this portfolio reflect the critical role last-mile distribution plays in today’s logistics landscape,” says Burdette. “PGIM positioned these assets to capitalize on accelerating demand for modern industrial space in markets with strong population growth and consumer spending fundamentals.” PGIM is the global asset management business of Prudential Financial Inc. (NYSE: PRU) and has $1.4 trillion in assets under management as of March 31, 2026, including $217 billion in real estate assets. Miramar Capital is a privately owned real estate investment and development firm specializing in …
CHARLOTTESVILLE, VA. — Cushman & Wakefield | Thalhimer has negotiated the $9.1 million ground lease sale of a single-tenant retail property located in Charlottesville. Wawa occupies the building on a 20-year ground lease, which is situated at the entrance of 5th Street Station, a 400,000-square-foot, Wegmans-anchored power retail center. Catharine Spangler of Thalhimer’s Capital Markets Group brokered the transaction. The buyer and seller requested anonymity.
ARLINGTON, VA. — JBG Smith and general contractor Davis Construction have begun the conversion of 2200 Crystal Drive, an 11-story office building in Arlington spanning 315,000 square feet. Built in 1968 and renovated in 2006, the office building is situated in National Landing, a neighborhood in metropolitan Washington, D.C., that is anchored by Amazon’s HQ2 office. JBG Smith, along with joint venture equity partner Declaration Partners, is repositioning the office building into a 195-unit multifamily community. BNY is providing an undisclosed amount of construction financing for the project. JBG Smith recently sold an adjacent office building, 2100 Crystal Drive, that is being converted to a dual-brand hotel. Additionally, the Arlington County Board recently approved JBG Smith’s conversion of two more office buildings, 1800 and 1901 South Bell Street, into more than 300 residential units.
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