Friday, November 28, 2025
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IndustrialLeasing ActivitySoutheastVirginia

Matan Inks 219,456 SF Industrial Lease With DSV in Stafford, Virginia

by John Nelson

STAFFORD, VA. — Matan Cos. has signed DSV, a global transport and logistics firm headquartered in Denmark, to a full-building lease in Stafford. Named Crossroads Industrial, the 219,456-square-foot building features 32-foot clear heights, 50- by 52-foot column spacing, 64 dock doors, LED lighting, ESFR sprinklers and 20 trailer and 323 car parking spaces. The facility sits within the region’s I-95 industrial corridor and lies equidistant between Richmond and Washington, D.C. Matan, which is based in Frederick, Md., plans to soon launch Venture Industrial, another industrial facility located in Stafford County.

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The LEGO Group
DevelopmentIndustrialSoutheastVirginia

LEGO Group Breaks Ground on $360M Regional Distribution Center in Virginia

by Abby Cox

PRINCE GEORGE COUNTY, VA. — The LEGO Group has broken ground on its new 2 million-square-foot regional distribution center in Prince George County near Richmond. The $360 million project will complement the LEGO Manufacturing Virginia facility that is underway in nearby Chesterfield County. Both facilities are scheduled to open in 2027 and will allow the company to reduce lead times, respond faster to shifts in demand, shorten the supply chain and slash its environmental impact. The new facility, which marks LEGO’s sixth distribution center worldwide and second in the United States, will feature advanced automation and will use 100 percent renewable energy to power the site to meet LEED Gold certification. The company also aims to achieve WELL Certification, which certifies buildings for improving the health and well-being of its occupants. The LEGO Group previously announced a build-to-suit lease for the new distribution center  with Crosspointe Commerce Center, a joint venture between Hillwood Investment Properties and The Silverman Group. A third-party logistics provider will operate the facility, which is expected to create more than 300 jobs once opened, according to company representatives.

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Xscape Theatres
AcquisitionsMarylandRetailSoutheastVirginia

Finmarc Management Acquires Two Movie Theater Properties in Maryland, Virginia for $15.1M

by Abby Cox

CENTREVILLE, VA. AND BRANDYWINE, MD. — Bethesda, Md.-based Finmarc Management has acquired a pair of retail properties leased by national movie operators in Virginia and Maryland for $15.1 million. EPR Properties was the seller. The first property, which spans 72,821 square feet, is located roughly 25 miles west of Washington, D.C., at 6201 Multiplex Drive in Fairfax County, Va. Cinemark Centreville fully leases the building, which features 12 screens. The second property is situated at 7710 Matapeake Business Drive in Brandywine and totals 60,000 square feet. The 14-screen theater is fully leased to Xscape Theatres.

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IndustrialLeasing ActivitySoutheastVirginia

Colliers Negotiates 100,125 SF Industrial Lease at Washington Highway Logistics Center in Glen Allen, Virginia

by Abby Cox

GLEN ALLEN, VA. — Colliers has negotiated a 100,125-square-foot industrial lease at Washington Highway Logistics Center in the northern Richmond suburb of Glen Allen. The tenant is Riverside Logistics, a third-party logistics and supply chain management company that manages a 1 million-square-foot warehouse portfolio. This lease joins the company’s recent signing at 200 Orleans St. in Richmond. Rob Dirom of Colliers represented the tenant in the lease negotiations. The landlord was not disclosed. Washington Highway Logistics Center totals 400,500 square feet across two buildings.

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AcquisitionsMultifamilyNorth CarolinaSoutheastVirginia

Newbrook Capital Purchases Two-Property Multifamily Portfolio for $58.2M

by John Nelson

CHESAPEAKE, VA. AND ELIZABETH CITY, N.C. — Newbrook Capital Properties has purchased a two-property multifamily portfolio in Chesapeake and Elizabeth City for $58.2 million. The seller was not disclosed. The properties include Green Tree, a 208-unit, garden-style community located at 749 Green Tree Circle in Chesapeake, and Emerald Lake, a 132-unit, garden-style property located at 1500 Emerald Lake Circle in Elizabeth City. The properties are 1990s vintage and sit roughly 40 miles apart. The portfolio acquisition grows Newbrook Capital’s assets under management to $400 million. The firm plans to invest in value-add capital improvements and has tapped StoneCreek to manage the portfolio. Hunter Bowling and Paul Marley of Cushman & Wakefield represented the seller for Emerald Lake in the transaction, and Drew White and Carter Wood of Berkadia represented the seller for Green Tree.

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DevelopmentLeasing ActivityMixed-UseOfficeSoutheastVirginia

Comstock Inks Two Office Leases With Booz Allen at Reston Station in Metro D.C. Totaling 310,000 SF

by John Nelson

RESTON, VA. — Comstock Holding Cos. Inc. has inked two office leases with Booz Allen Hamilton at two adjacent office towers within Reston Station, a 90-acre, transit-oriented mixed-use development in the Washington, D.C., suburb of Reston. Reston Station will now be the corporate headquarters for the global technology and consulting firm, which will fully occupy the nearly finished office building at 1870 Reston Row Plaza and multiple floors within the adjacent office building at 1800 Reston Row Plaza, which was recently delivered. The two leases combine for more than 310,000 square feet and include the enclosed bridge that will connect the two office towers on the seventh floor. The design team for 1800 and 1870 Reston Row Plaza included HKS Architects and Michael Graves Architecture. The two LEED Silver office towers are situated in The Row at Reston Station, the second of five planned phases of Comstock’s Reston Station development, which also houses offices for Google, ICF International, CARFAX, Spotify, Qualtrics International and Rolls-Royce of America, among other companies.

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524 Viking Drive
IndustrialSoutheastVirginia

Cushman & Wakefield | Thalhimer Negotiates $13.5M Sale of Industrial Facility in Virginia Beach

by Abby Cox

VIRGINIA BEACH, VA. — Cushman & Wakefield | Thalhimer has negotiated the sale of 524 Viking Drive, a 150,640-square-foot industrial facility located in Virginia Beach. Selko Real Estate Ventures LLC purchased the property from Hermes Abrasives for $13.5 million. Geoff Poston and Brett Sain of Thalhimer represented the buyer in the transaction.

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FeaturesHospitalitySoutheastSoutheast Feature ArchiveVirginia

Annual RevPAR for U.S. Hotel Sector Declines for First Time Since 2020, Says CoStar and Tourism Economics

by John Nelson

ARLINGTON, VA. — Revenue per available room (RevPAR) was revised downward in the final performance projections for the U.S. hospitality sector in 2025, according to the latest forecast from CoStar Group and Tourism Economics, an Oxford Economics company. RevPAR is projected to finish the year at a decline of 0.4 percent (or negative 40 basis points) compared to a year ago. This would result in the first total-year decline since 2020 and only the second since 2009, both of which were years with major macroeconomic disruptions with the COVID-19 pandemic and Great Financial Crisis, respectively. CoStar and Tourism Economics also lowered occupancy projections to end the year at 62.3 percent, a decline from 63.1 percent at year-end 2024, while average daily rate (ADR) was held steady at +0.8 percent for the year. For 2026, occupancy is projected to decline by another 30 basis points, while ADR and RevPAR are projected to trend positive by 90 and 50 basis points, respectively (see chart). “We expect little change in the macroeconomic environment as unemployment and prices continue to rise,” says Amanda Hite, president of STR, a hospitality research firm owned by CoStar. “As a result, our hotel performance outlook for the remainder of …

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AcquisitionsFloridaGeorgiaMultifamilyNorth CarolinaNortheastOregonPennsylvaniaSoutheastStudent HousingTexasTop StoriesVirginiaWestern

Morgan Stanley, GSA Acquire Eight-Property Student Housing Portfolio Valued at $1B

by Kristin Harlow

NEW YORK CITY — Morgan Stanley Real Estate Investing (MSREI) and Global Student Accommodation (GSA) have acquired a portfolio of eight student housing assets in Tier 1 U.S. university markets from a joint venture between a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) and Landmark Properties. The transaction is valued at more than $1 billion. The properties are located across seven states and offer a mix of cottage-style, high-rise and mid-rise formats. The 6,200-bed portfolio is nearly fully leased. Global student housing operator Yugo will manage and rebrand the newly acquired assets. The assets in the sold portfolio include: The acquisition marks the partnership’s entrance into new markets in Virginia, Georgia and Pennsylvania, while expanding its presence in Texas, Florida, Oregon and North Carolina. Through its partnership, MSREI and GSA now own nearly 24,000 student housing beds across 50 properties in 23 states. “This acquisition is testament to the depth of our global teams, our access to unique opportunities and the strength of our institutional relationships in the United States and globally. An off-market portfolio of this size and quality is rare, and demonstrates our experience and expertise in the student housing market,” says Nicholas Porter, CEO at …

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AcquisitionsData CentersDevelopmentSoutheastVirginia

Reports: Amazon Acquires Data Center Site in Northern Virginia for $700M

by John Nelson

BRISTOW, VA. — An affiliate of e-commerce giant Amazon, Amazon Data Services, has acquired a site in Prince William County for a future data center campus. The firm acquired the undeveloped site near Devlin Road and I-66 in Bristow for $700 million, according to Washington Business Journal. CoStar Group reports that Stanley Martin Homes, a Reston, Va.-based homebuilder, sold the 188-acre site to Amazon and that Eastdil Secured represented the land seller in the deal. Washington Business Journal reports that the Prince William Board of County Supervisors rezoned the site for data center development in November 2023 and has since been in a legal dispute, with the Court of Appeals of Virginia recently upholding the county’s original rezoning decision.

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