Wednesday, January 14, 2026
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DevelopmentSoutheastStudent HousingVirginia

LV Collective, Harrison Street to Break Ground on 862-Bed Student Housing Development Near Virginia Tech

by John Nelson

BLACKSBURG, VA. — A joint venture between LV Collective and Harrison Street Asset Management is set to break ground on Rambler, an 862-bed student housing development located near the Virginia Tech campus in Blacksburg. The eight-story community will span 577,671 square feet and offer 247 apartments and townhomes in studio, one-, two-, three-, four- and five-bedroom configurations. Shared amenities will include a ground-level coffee shop; coworking space with private study rooms; a multi-sport simulator; clubroom and social lounge; fitness center with a yoga and flex studio; wellness lounge with a sauna and cold plunge; and an outdoor pool deck with a hot tub. Site work began in December with completion scheduled for fall 2028. The development team for the project includes Brinkmann, Niles Bolton, Variant Collaborative, Ironwood and Foresight. DLA Piper provided legal counsel for the development.

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AcquisitionsIndustrialMarylandSoutheastVirginia

Newmark Arranges $203M Sale of 1.4 MSF Industrial Portfolio Across Maryland, Virginia

by Abby Cox

BALTIMORE — Newmark has arranged the sale of a 1.4 million-square-foot Mid-Atlantic micro-bay industrial portfolio for $203 million. The portfolio includes 50 individual buildings and 600 tenants in the Baltimore-Washington corridor and Northern Virginia. Current tenants focus on local and regional distribution, light industrial, service-oriented and last-mile logistics uses. Ben McCarty, Cris Abramson, Nicholas Signor, Henry Pleszkoch and Sam Slater of Newmark arranged the transaction on behalf of an unnamed group of private sellers. Silverman Group was the buyer.

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Northlake II Industrial Park
DevelopmentIndustrialLeasing ActivitySoutheastVirginia

Matan Cos. Signs DPR Construction to 203,000 SF Industrial Lease in Ashland, Virginia

by Abby Cox

ASHLAND, VA. — Matan Cos. has fully leased the final phase of Northlake II, a four-building, 548,000-square-foot industrial park located along the I-95 corridor in Ashland, a suburb of Richmond. DPR Construction will fully occupy Building D, which totals 203,000 square feet. Completion of Building D is slated for the spring. Gareth Jones, Chris Avellana and Charlie Polk of JLL represented Matan Cos., while Savills and CBRE represented DPR in the lease negotiations. Phase I of Northlake II comprises buildings A, B and C and was delivered and leased in early 2024.

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AlabamaGeorgiaIndustrialMarket ReportsNorth CarolinaSouth CarolinaSoutheastSoutheast Market ReportsVirginia

Tariffs Are Moving the Needle for Manufacturing, Distribution Demand on the I-85 Industrial Corridor

by John Nelson

More than seven months have passed since Liberation Day, where the Trump administration declared a sweeping package of tariffs for foreign trade partners and specific commodities, including steel and aluminum. Since the announcement in early April, there has been a boon in the amount of multibillion-dollar advanced manufacturing, life sciences, semiconductor and data center investment announcements around the country, with the markets along the I-85 Industrial Corridor being no exception.  To name a few: Toyota has recently begun production at its $13.9 billion battery plant in Liberty, N.C.; Rivian broke ground on its $5 billion electric vehicle plant near Social Circle, Ga.; JetZero is planning to create 14,500 jobs for an aerospace manufacturing facility in Greensboro, N.C.; Eli Lilly is developing a $5 billion pharmaceutical manufacturing facility in the Richmond suburb of Goochland County, Va.; and Google is developing a trio of data centers in metro Richmond’s Chesterfield County. “We have incredible momentum bringing business back into the United States, which is going to drive industrial growth, particularly in the Southeast,” says Jim Anthony, CEO and founder of APG Companies. “We’re not unionized, we have lower taxes, fewer regulations and lower cost of energy, which is huge factor in site …

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DevelopmentMixed-UseSoutheastTop StoriesVirginia

Greenberg Gibbons Breaks Ground on $500M Midtown64 Mixed-Use Project in Richmond

by Kristin Harlow

RICHMOND, VA. — Greenberg Gibbons has broken ground on Midtown64, a more than $500 million mixed-use development comprising 46 acres in Henrico County, located just outside downtown Richmond. Shamin Hotels is a joint venture partner for the project, which is being built on the former Genworth Financial headquarters campus. The personal finance firm signed a 175,000-square-foot office lease in late 2022 to move its headquarters to the SunTrust Business Center in the Richmond suburb of Glen Allen, Va. Located at the intersection of West Broad Street and I-64, Midtown64 will span 2 million square feet with up to 130,000 square feet of upscale retail, restaurant and entertainment space. Anchor tenants will include a grocery store and new-to-market fitness concept. The project will also include up to 300,000 square feet of Class A office space, an apartment community with nearly 1,000 units, 194 townhomes built by homebuilder Lennar and a 226-room, dual-branded hotel featuring Tempo by Hilton. Greenberg Gibbons says the development will feature contemporary architecture, landscaped plazas and convenient parking within a walkable environment. “Midtown64 builds on our track record of revitalizing properties into thriving mixed-use destinations, while marking an exciting expansion of our portfolio in Virginia,” says Brian Gibbons, …

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Hilton-Richmond-The-Mondelle
DevelopmentHospitalitySoutheastVirginia

Shamin Hotels Breaks Ground on $160M Hilton-Branded Hotel, Conference Center in Richmond

by Abby Cox

RICHMOND, VA. — Virginia’s largest hotel owner and operator Shamin Hotels has broken ground on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center located in Chesterfield County. The $160 million project will anchor Springline at District 60, a $1 billion mixed-use development underway at the intersection of Midlothian Turnpike and Chippenham Parkway. The Mondelle will feature more than 30,000 square feet of meeting space, including a 12,600-square-foot grand ballroom. The 11-story hotel will also include a signature restaurant with outdoor dining, a second-floor indoor/outdoor executive meeting center with a biergarten, a rooftop restaurant and cocktail bar, as well as an infinity pool. Truist Bank provided construction and bond financing for the project, which represents the first full-service hotel and conference center to be constructed in the Richmond market since 2009.

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AcquisitionsMultifamilySoutheastVirginia

Berkadia Negotiates Sale of 295-Unit Apartment Community in Norfolk

by John Nelson

NORFOLK, VA. — Berkadia has negotiated the sale of Livano Norfolk, a 295-unit apartment community located at 6163 Kempsville Circle in Norfolk. The buyer, Kushner, has rebranded the property as District 757. The seller, LIV Development, delivered the property in 2024. Drew White, Carter Wood and Cole Carns of Berkadia’s Richmond office represented the seller in the transaction. Laura Cathlina and Anna Burns of Berkadia’s Chicago office arranged a Fannie Mae loan for the buyer. The sales price and loan amount were not disclosed. District 757 was 96 percent occupied at the time of sale. The property offers a mix of studios, one-, two- and three-bedroom residences ranging in size from 614 to 1,645 square feet. Amenities include a 12,000-square-foot clubhouse with an entertainment kitchen, lounge areas and gaming spaces, as well as a year-round resort-style pool with sundeck, sky lounge, coworking suites with private offices, business center, EV charging stations and a 24-hour fitness center.

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Skilled-Nursing-Portfolio-Property
HealthcareLoansMarylandSoutheastVirginia

CFG Provides $253.2M Bridge Loan for Skilled Nursing Portfolio in Maryland, Virginia

by Abby Cox

BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and one in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower. 

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industrial-portfolio-cbre
AcquisitionsGeorgiaIndustrialKentuckyNew YorkNorth CarolinaPennsylvaniaTop StoriesVirginia

CBRE Arranges Sale of 3 MSF Industrial Portfolio Across Eight States for ACRE

by Abby Cox

NEW YORK CITY — CBRE has arranged the sale of a 20-property last-mile distribution and light-manufacturing industrial portfolio across eight states. New York City-based Ares Commercial Real Estate Corp. (NYSE: ACRE) acquired the portfolio, which spans more than 3 million square feet. Brian Fiumara led CBRE’s National Partners team in marketing the portfolio and representing the undisclosed seller in the transaction. The CBRE team also procured the buyer. The properties include: The industrial portfolio consists of well-maintained industrial buildings ranging in size from 16,000 to 500,000 square feet, while average occupancy across the properties currently sits at 95 percent. “The acquisition by Ares allows the company to expand its existing portfolio with a critical mass of light industrial and well-located last-mile assets in major population centers with access to key distribution infrastructure,” says Fiumara. ACRE is a real estate investment trust (REIT) managed by Ares Commercial Real Estate Management LLC, a subsidiary of Ares Management Corp., which manages approximately $596 billion of assets.   ACRE’s stock price closed on Thursday, Dec. 4 at $5.15 per share, down from $6.98 a year ago, a nearly 26 percent decline. — Abby Cox

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Data CentersIndustrialMarket ReportsSoutheastSoutheast Market ReportsVirginia

Richmond’s Industrial Market Is an Institutional Capital Darling

by John Nelson

The Richmond industrial market has been undergoing a dramatic transformation that reads like a case study in strategic positioning and timing. Over the past decade, this “regional market” has become a U.S. powerhouse, boasting all the ingredients to attract, maintain and organically grow supply-chain focused global occupiers and institutional capital investment. Richmond’s strategic advantages include its prime location on I-95 — equidistant to both metropolitan D.C. and the Port of Virginia — attractive labor demographics, disciplined development and strong demand from Fortune 100 occupiers. Additionally, the surging data center hyperscalers and their suppliers have further catalyzed growth in the market. The result? Richmond now features one of the lowest U.S. vacancy rates, sustained year-over-year rent growth, a feeding frenzy of institutional capital routinely producing 10 to 15 bids and lender quotes per property that have fundamentally reshaped who owns, develops and finances industrial real estate in the market. From regional player to national stage Over the past decade, Richmond experienced a 68 percent increase in institutional investors and lenders, growing from 47 participants in 2015 to nearly 80 unique institutions that have invested in and loaned on Richmond industrial assets, with 50 cents of every dollar invested in Richmond coming from …

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