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AREP Opens CityHouse Old Town Office-to-Residential Conversion Project in Alexandria, Virginia

Abby Cox — Fri, 20 Mar 2026 13:25:43 +0000

ALEXANDRIA, VA. — American Real Estate Partners (AREP) has opened CityHouse Old Town, an office-to-residential adaptive reuse development at 1101 King St. in Alexandria, a suburb of Washington, D.C. The community has been welcoming residents since late 2025 and is 40 percent occupied. Originally constructed in 1983 as a 236,000-square-foot office building, CityHouse Old Town has been reimagined into a seven-building, luxury residential community. The complex offers 199 apartments ranging in size from 500 to 1,559 square feet. Monthly rental rates begin at $3,300. Amenities the property include coworking spaces, a hospitality-inspired club lounge, 24-hour fitness center, pet washing station, electric vehicle charging stations and landscaped gathering areas. AREP is pursuing Fitwel certification for the project. Bozzuto serves as leasing and property manager for CityHouse Old Town.

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AH Realty Trust Agrees to Sell 11-Property Multifamily Portfolio to Harbor Group for $562M

John Nelson — Tue, 17 Mar 2026 12:00:00 +0000

VIRGINIA BEACH AND NORFOLK, VA. — AH Realty Trust (NYSE: AHRT), a Virginia Beach-based real estate investment trust (REIT) that changed its name from Armada Hoffler two weeks ago, has agreed to sell 11 of its 14 apartment properties to Norfolk-based Harbor Group International LLC for $562 million in an all-cash transaction. The deal marks an effort by AH Realty to pivot away from the multifamily sector. Harbor Group has provided a $15 million nonrefundable deposit for the transaction, which the companies say is not contingent on financing. The portfolio sale is expected to close in mid‑2026, subject to customary closing conditions. “HGI is acquiring a strong, stable portfolio that has served our company well,” says Shawn Tibbetts, chairman, president and CEO of AH Realty Trust. “By realizing the value of these assets, AH Realty Trust is able to simplify our business, strengthen our balance sheet and continue executing our strategy with clarity and purpose.” According to multiple media outlets, including the Baltimore Business Journal, the assets in the portfolio include: AH Realty Trust will retain Smith’s Landing, a five-story, 284-unit property in Blacksburg, Va. The firm will also keep The Everly and Solis Gainesville in Gainesville, Ga., with the intention…

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LEG, JM Zell Plan to Convert Former TSA Headquarters in Metro D.C. to Apartment Property

John Nelson — Thu, 12 Mar 2026 13:25:10 +0000

ARLINGTON, VA. — Lincoln Equities Group (LEG) and JM Zell Partners have submitted an application to convert the former headquarters of the Transportation Security Administration (TSA) in Arlington’s Pentagon City neighborhood into apartments. The project would reposition the two vacant office buildings, which the TSA vacated in 2020, into a property with 637 apartments and 31,000 square feet of retail space. In addition to converting 571,564 square feet of obsolete office space, plans for the 4.9-acre site include developing 116,244 square feet of new residential floor area, two new retail areas and a half-acre public plaza that connects to the Metro, as well as maintaining the 900-space underground parking garage that serves both buildings. LEG and JM Zell’s plans were submitted to Arlington County earlier this month and are pending review and approval. The design-build team includes Arquitectonica (architect) and Oculus (landscape architect). The co-developers have selected Wire Gill LLP as their land use attorney.

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Cushman & Wakefield | Thalhimer Arranges Sale of 927,500 SF Industrial Property in Danville, Virginia

John Nelson — Thu, 12 Mar 2026 13:18:44 +0000

DANVILLE, VA. — Cushman & Wakefield | Thalhimer has arranged the sale of a 927,500-square-foot manufacturing facility located at 100 Morgan Olson Way in Danville, a city in south Virginia on the border of North Carolina. The property is situated within Cane Creek Park and offers ample space for manufacturing and/or distribution tenants. Ben Brenner and Jake Hermann of Cushman & Wakefield, along with Davis Stoneburner, Price Gutshall and Rett Turner of Cushman & Wakefield | Thalhimer, represented the seller, an unnamed private individual, in the transaction. The buyer and sales price were also not disclosed.

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George Washington University Sells Virginia Science and Technology Campus to Amazon for $427M

Kristin Harlow — Wed, 04 Mar 2026 13:00:00 +0000

ASHBURN, VA. — The George Washington University (GW) has sold the Viginia Science and Technology Campus (VSTC) in Ashburn, about 30 miles northwest of Washington, D.C. Amazon Data Services, a subsidiary of Amazon Web Services, purchased the property for $427 million, according to local media reports. Amazon plans to develop the 122-acre site into a data center, according to The GW Hatchet, the university’s student newspaper. Ashburn is situated in Loudoun County, which is dubbed locally as “data center alley.” The transaction agreement ensures that the university has the option to keep programs at VSTC for up to five years. Launched in 1991, VSTC supports research in engineering, physics and chemistry and is home to both academic programs and administrative services. GW’s School of Nursing, the Earthquake Engineering and Structures Laboratory and the Avenir Foundation Conservation and Collections Resource Center are all housed on the campus. “As stewards of the university’s mission, we must continually assess how best to use our resources in service of our community and future generations of GW revolutionaries,” wrote Ellen Granberg, president of GW, in a letter regarding the sale. “This includes our real estate portfolio, a critical asset that supports our academic mission, the…

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Newmark Facilitates $44.5M Sale of Three-Building Office Portfolio in Richmond

Abby Cox — Fri, 20 Feb 2026 15:17:34 +0000

RICHMOND, VA. — Newmark has facilitated the $44.5 million sale of a three-building office portfolio located in Richmond. Will Bradley and Mark Williford of Newmark represented the seller, Minneapolis-based Onward Investors, in the transaction. Onward Investors originally purchased the complex about 18 months prior for $31 million, as reported by Richmond BizSense. The buyer was not disclosed. Situated at 5600-5640 Cox Road, the portfolio totals 300,364 square feet. The office buildings were fully leased at the time of sale to tenants including data center operator Black Knight, the Commonwealth of Virginia’s Department of Social Services and local water treatment firm ChemTreat.

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TA Realty Sells Two Hyperscale Data Centers Totaling 745,000 SF in Northern Virginia

Abby Cox — Fri, 06 Feb 2026 14:25:13 +0000

LEESBURG, VA. — TA Realty, in collaboration with its data center development arm TA Digital Group, has sold two hyperscale data centers totaling 745,000 square feet in Leesburg, a city in Northern Virginia’s Loudoun County. The two facilities are the first completed buildings of a planned five-building, 450-megawatt (mW) hyperscale data center campus. The buyer and additional terms of the sale were not disclosed. The campus is set to be leased to a single, unnamed global cloud provider, according to Data Center Dynamics.

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JLL Income Property Trust Sells 319-Unit Apartment Community in Metro D.C.

John Nelson — Thu, 05 Feb 2026 14:59:48 +0000

MCLEAN, VA. — JLL Income Property Trust, alongside investment partner LCOR, has sold Kingston at McLean Crossing, a 319-unit apartment community located at 7480 Birdwood Ave. in McLean, about 12 miles west of Washington, D.C. The Chicago-based REIT originally acquired the 15-story property in 2021, three years after the property was delivered. The buyer is Pantzer Properties, a multifamily owner-operator based in New York City, according to Apartments.com. Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia represented the seller in the transaction. The sales price was not disclosed. Pantzer has rebranded Kingston at McLean Crossing to The Point at McLean. Units come in studio to three-bedroom layouts ranging in size from 569 to 1,932 square feet. Amenities include a pool, fitness center, concierge, conference rooms, spa, EV charging stations and a playground. The property was 96 percent occupied at the time of sale.

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Capstone Development, University of Virginia to Break Ground on 780-Bed Residence Hall

John Nelson — Wed, 04 Feb 2026 14:56:31 +0000

CHARLOTTESVILLE, VA. — The University of Virginia has selected Capstone Development Partners for a 780-bed residence hall project on the university’s campus in Charlottesville. The development will include three buildings spanning 310,000 square feet at the corner of Copeley and Ivy roads. The project will offer apartment-style units for upperclassmen alongside a 19,000-square-foot dining and retail component. Capstone will serve as a fee developer responsible for the design and construction of the project, which is being financed by the university and is scheduled for completion in fall 2027. The development team also includes Elkus Manfredi Architects, Hoar Construction and Hourigan.

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KLNB Negotiates $28.5M Sale of Warehouse in Sterling, Virginia

John Nelson — Wed, 04 Feb 2026 14:54:35 +0000

STERLING, VA. — KLNB has negotiated the $28.5 million sale of an 83,330-square-foot warehouse located at 45190 Ocean Court in Sterling, about 29 miles west of Washington, D.C. Ryan Goeller, Chase Stewart, Jeff Tarae and Tyler Cumberland of KLNB represented the buyer, JK Land Holdings, in the off-market transaction. The seller was an entity doing business as Sterling Davis Properties LLC. The current tenant, Belfort Furniture, plans to vacate the property in June. JK Land has tapped KLNB to market and lease the property going forward.

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Cresa Arranges $12M Sale of Office Building in Vienna, Virginia

John Nelson — Tue, 27 Jan 2026 14:08:14 +0000

VIENNA, VA. — Cresa has arranged the $12 million sale of a vacant, 100,000-square-foot office building located at 901 Follin Lane in Vienna, about 17 miles west of Washington, D.C. Navy Federal Credit Union acquired the property from Zalco Commercial. Gene Sachs, Rich Rhodes and Dan Silverman of Cresa represented Navy Federal in the transaction. The property is situated on 9.1 acres across the street from Navy Federal’s headquarters and will be utilized for the time being as a parking lot. Future plans for the office building and surrounding land were not disclosed. The property has sat vacant for the past six years after being leased to an unnamed federal government tenant.

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Crescent, Rockefeller to Develop 530-Unit Apartment Community in Arlington, Virginia

Abby Cox — Mon, 26 Jan 2026 13:04:00 +0000

ARLINGTON, VA. — A joint venture between Crescent Communities and Rockefeller Group has closed on the land acquisition for NOVEL Arlington, a 530-unit apartment community located in Arlington, approximately five miles from downtown Washington, D.C. Situated on about 5.5 acres along South Glebe Road, NOVEL Arlington will include 493 multifamily residences and 37 townhomes across studio, one-, two- and three-bedroom floorplans, including both market-rate and affordable units. Designed around the concept of the “power to play,” the complex will feature 20,000 square feet of amenities such as a golf lounge with a full-swing simulator; clubroom with indoor-outdoor connectivity; private dining and watch-party room; courtyard with firepits, game zones and landscaping; rooftop resort-style swimming pool with cabanas; fitness center, solo fitness studio, sauna and recovery spaces; coworking nooks and social lounges; a record listening lounge; pet retreat and pet spa; resident market; and a privately programmed courtyard and public-private park with walking trails. The joint venture secured equity financing from Shimizu Realty Development and Mitsubishi Estate New York, a U.S. affiliate of Tokyo-based Mitsubishi Estate Co. Additionally, Sumitomo Mitsui Trust Bank, Limited New York Branch (SMTB) provided construction financing for the development. Other project partners include Bohler D.C. (civil engineer), Hord…

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Berkeley Capital Arranges $102M Sale of Virginia Beach Shopping Center

John Nelson — Thu, 22 Jan 2026 14:32:40 +0000

VIRGINIA BEACH, VA. — Berkeley Capital Advisors has arranged the $102 million sale of Landstown Commons Shopping Center, a 408,851-square-foot, open-air retail center located in Virginia Beach. Kohl’s, Ross Dress for Less, Best Buy, Old Navy and Ulta Beauty anchor the center. Other tenants include Bath & Body Works, Carter’s, Burlington, Five Below, Dollar Tree and PetSmart. Rob Carter of Berkeley Capital Advisors represented the seller, Rye, N.Y.-based Acadia Realty Trust, in the transaction. Moritt Hock & Hamroff represented the buyer, an affiliate of Yale Realty Services. Additionally, The Bank of Montreal provided $73.4 million in acquisition financing for the deal.

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Berkadia Arranges Sale of 396-Unit Apartment Community in Newport News, Virginia

Abby Cox — Fri, 16 Jan 2026 16:27:38 +0000

NEWPORT NEWS, VA. — Berkadia has arranged the sale of Compass at City Center, a 396-unit, garden-style apartment community located in Newport News. Drew White, Carter Wood and Cole Carns of Berkadia represented the sellers, C-III Capital Partners and Drucker + Falk, in the transaction. Patrick McGlohn, Brian Gould, Hunter Wood, Patrick Cunningham and Natalie Hershey, also with Berkadia, secured an acquisition loan on behalf of the buyer, a joint venture between Penzance and Kettler. The sales price and loan amount were not disclosed. Originally built in 1985, Compass at City Center comprises 33 three-story buildings across a 25-acre site. The complex offers a mix of one-, two- and three-bedroom floorplans, averaging about 1,000 square feet in size. Amenities include a resident lounge and clubhouse, sun deck and fire pits, fitness center, swimming pool, playground, barbecue and outdoor dining areas and a dog park.

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

John Nelson — Tue, 13 Jan 2026 15:21:36 +0000

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

Abby Cox — Fri, 09 Jan 2026 13:38:11 +0000

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

Abby Cox — Tue, 06 Jan 2026 15:17:47 +0000

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

John Nelson — Tue, 23 Dec 2025 12:31:00 +0000

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

Kristin Harlow — Wed, 17 Dec 2025 13:00:00 +0000

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

Abby Cox — Mon, 15 Dec 2025 14:53:18 +0000

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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