Virginia Archives - REBusinessOnline

Aggregate Acquires Industrial, Retail Portfolio in Northern Virginia for $58M

John Nelson — Thu, 03 Sep 2026 13:29:58 +0000

FAIRFAX, VA. — Fairfax-based Aggregate Real Estate Investors has purchased an 11-building retail and industrial portfolio in Northern Virginia from Clarke-Hook Corp. for $58 million. The portfolio comprises:

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Newmark Negotiates $26M Sale of Office Tower in Norfolk, Virginia

Abby Cox — Mon, 31 Aug 2026 13:23:07 +0000

NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Mark Williford, Will Bradley and Evan Wells of Newmark represented the seller, Gate Petroleum Co., in the transaction. Constructed in 2002, the 21-story tower’s onsite amenities include 24-hour security service, attached parking, a 2,000-square-foot multi-purpose meeting room, a full-service restaurant and a ground-level bank.

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Bonaventure Begins Construction on $93.3M Apartment Development in Metro Richmond

John Nelson — Thu, 27 Aug 2026 14:42:50 +0000

CHESTER, VA. — Bonaventure has begun construction on Attain at Swift Creek, a $93.3 million multifamily development located at 6805 Greenyard Road in Chester, a southern suburb of Richmond in Chesterfield County. The Alexandria, Va.-based developer obtained a $79.9 million HUD 221(d)(4) construction loan for the project. Walker & Dunlop originated the 40-year, fixed-rate loan on behalf of Bonaventure, which will finance the balance of the development costs via its balance sheet while searching for a long-term equity partner. Situated on a 31-acre site adjacent to a Kroger Marketplace-anchored shopping center, Attain at Swift Creek will feature a mix of one-, two- and three-bedroom apartments averaging 1,058 square feet in size. The project team includes KBS Inc. (general contractor), RBA Architects and Timmons Group (civil engineer). Bonaventure will name a property manager for the community at a later date.

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Cooking Oil Importer Signs 100,002 SF Industrial Lease in Chesapeake, Virginia

John Nelson — Tue, 25 Aug 2026 14:01:09 +0000

CHESAPEAKE, VA. — Ciuti International LLC, a specialty cooking oil importer and packager, has signed a 100,002-square-foot industrial lease at Diamond Hill III, a facility located at 1960 Diamond Hill Road in Chesapeake. Situated about six miles south of the Port of Virginia, the property will house the first Virginia operation for Ciuti. Brett Sain of Cushman & Wakefield | Thalhimer represented the tenant in the lease negotiations. Christine Kaempfe, Ellis Colthorpe and Geoff Poston, also with Thalhimer, represented the undisclosed landlord.

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Richmond Industrial Real Estate: A Market Maturing Into Its Next Phase

John Nelson — Mon, 24 Aug 2026 11:50:00 +0000

Richmond’s industrial real estate market has changed considerably over the past several years. What was once a relatively quiet Mid-Atlantic logistics market became one of the country’s most competitive industrial markets during the pandemic. Record leasing activity, limited availability and rapidly rising rents attracted developers and institutional capital from across the country. Today, the market is more balanced — and, in my opinion, healthier. The fundamentals remain strong, but the days of putting a sign on a warehouse and watching tenants compete for the space are behind us. For owners, developers and investors, success in Richmond’s industrial market now requires a much closer look at location, building functionality, basis and tenant demand. The numbers tell the story. Richmond entered the second half of 2026 with an industrial vacancy rate of approximately 5.5 percent, according to CBRE, while the market posted positive net absorption of 136,000 square feet during the second quarter. Average asking rents reached $8.86 per square foot, up 2.4 percent from the prior quarter. At the same time, the development pipeline has grown to approximately 12.6 million square feet under construction, of which approximately 3.9 million are speculative projects. That amount of new supply deserves attention. Richmond has…

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Finmarc Purchases Twin Office Towers in Northern Virginia for $77.5M

John Nelson — Thu, 20 Aug 2026 13:38:33 +0000

MCLEAN, VA. — Bethesda, Md.-based Finmarc Management Inc. has completed its $77.5 million purchase of Highline at Greensboro, an office campus in Northern Virginia’s Tysons Corner submarket comprising twin 10-story office buildings. The two properties are located at 8401 and 8405 Greensboro Drive in McLean and total approximately 460,000 square feet. The office campus was 70 percent leased at the time of sale to tenants including Mortgage One Solutions, TEGNA, ASC Ortho Management Co., The MIL Corp., Rappaport Management Co. and Body Contour Centers. Cliff Mendelson of Metropolis Capital Advisors arranged an undisclosed amount of acquisition financing for Finmarc. Paul Collins and Kevin Sidney of Cushman & Wakefield represented the seller, Los Angeles-based CIM Group, in the transaction. CIM Group recently completed a $16 million capital improvement program at Highline at Greensboro. Finmarc has tapped Josh Masi and Paige Barger of Cushman & Wakefield to handle the leasing assignment at the office campus.

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DWG Capital Partners Acquires Manufacturing Facility in Dublin, Virginia Via Sale-Leaseback

John Nelson — Thu, 13 Aug 2026 14:15:01 +0000

DUBLIN, VA. — DWG Capital Partners has purchased an 83,683-square-foot manufacturing facility located at 320 Newbern Road in Dublin, a city in southwest Virginia’s I-81 Corridor. The publicly traded seller, Commercial Vehicle Group (CVG), sold the property to DWG Capital and leased back the facility on a 20-year absolute triple-net lease. The facility is situated on 4.7 acres and features 14- to 16-foot clear heights, six dock-high doors, one drive-in door and outdoor storage. Albert Hernandez and Rob Stockhausen of Colliers represented CVG in the sale-leaseback. According to Judd Dunning, founder and principal of DWG Capital, Skyline National Bank provided acquisition financing for the deal. The sales price and loan amount were not disclosed.

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Finmarc Sells Shopping Center in Manassas, Virginia for $24.5M

John Nelson — Wed, 12 Aug 2026 13:29:17 +0000

MANASSAS, VA. — Bethesda, Md.-based Finmarc Management Inc. has sold Festival at Manassas, a 117,675-square-foot shopping center in Northern Virginia, for $24.5 million. JCR Cos. purchased the grocery-anchored property, which is located at 10288-10388 Festival Lane in Manassas. Ryan Sciullo, Chris Munley, Colin Behr and Casey Smith of CBRE represented Finmarc in the transaction. Situated near the intersection of Sudley and Portsmouth roads, Festival at Manassas was 88 percent leased at the time of sale to tenants including Global Foods, Golden Royal Buffet, SudsMore, My Salon Suites and Potbelly Sandwich Works.

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Comstock Signs QTS to 77,000 SF Office Lease for New Corporate Headquarters in Northern Virginia

John Nelson — Wed, 05 Aug 2026 14:42:44 +0000

RESTON, VA. — Comstock Holding Cos. Inc. has signed QTS Data Centers, a data center owner-operator owned by Blackstone, to a long-term office lease at Reston Station. QTS will occupy 77,000 square feet on the 11th, 12th and 13th floors at 1800 Reston Row Plaza, which serves as the company’s new corporate headquarters. Reston Station spans approximately 90 acres surrounding the Metro’s Wiehle-Reston East station. The campus features multiple office buildings housing tenants including Google, Booz Allen Hamilton and CARFAX, as well as two BLVD-branded apartment communities, stores, restaurants and a 28-story tower housing JW Marriott hotel and residences.

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Berkadia Arranges $85M Sale of Multifamily Community in Manassas, Virginia

Abby Cox — Mon, 27 Jul 2026 13:46:21 +0000

MANASSAS, VA. — Berkadia has arranged the sale of Masons Keepe, a 270-unit multifamily community located in Manassas, roughly 31 miles southwest of Washington, D.C. The sales price was not disclosed, but CoStar Group tracked the sales price as $85 million. Brian Crivella, Bill Gribbin, Yalda Ghamarian, Jack Canepa and Drew White of Berkadia’s Richmond office represented the seller, University Village Apartments LLC, in the transaction. Brad Williamson and Christopher Ellis, also with Berkadia, originated a five-year Freddie Mac acquisition loan on behalf of the buyer, Bridge Investment Group. The fixed-rate loan features a three-year interest-only period, 35-year amortization schedule and a 70 percent loan-to-value ratio. Built in 2004, Masons Keepe comprises 17 garden-style residential buildings with one- and two-bedroom apartments ranging in size from 759 to 1,322 square feet, according to Apartments.com. Amenities include a swimming pool, fitness center, playground, clubhouse, business center, tennis court, volleyball court, conference rooms and a grilling area.

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Monday Properties Receives Approval for Mixed-Use Development in Arlington, Virginia

Abby Cox — Fri, 24 Jul 2026 15:03:21 +0000

ARLINGTON, VA. — Monday Properties has received approval from the Arlington County Board for a major site plan amendment for the redevelopment two contiguous 12-story office buildings in Arlington’s Rosslyn district: 1401 Wilson Boulevard and 1400 Key Boulevard. The two office buildings, which were constructed in 1964, will be transformed into two 27-story multifamily towers dubbed The 1400s that will total 831 apartments, along with 28,959 square feet of ground-floor retail space anchored by a grocery store and a split-level parking garage. In addition, roughly 52 percent of the site will be allocated for publicly accessible open space. The project team includes Shalom Baranes Associates (architect of record), ParkerRodriguez (landscape architect) and VIKA Capitol (civil engineering and site design firm). A timeline for construction was not disclosed.

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Bonaventure Breaks Ground on $85.3M Multifamily Development in Norfolk

John Nelson — Thu, 23 Jul 2026 13:49:54 +0000

NORFOLK, VA. — Bonaventure has broken ground on Attain at Newtown, an $85.3 million multifamily development located at 6659 E. Virginia Beach Blvd. in Norfolk. The 320-unit project, which is situated within an opportunity zone, is the second Attain-branded multifamily development that Bonaventure has begun construction on in the past month. The developer is financing Attain at Newtown with equity from Cafritz Asset Management LLC and a HUD 221(d)(4) loan originated by Greystone. Bonaventure plans to deliver first units in fall 2027. The Class A community will offer a mix of one-, two- and three-bedroom residences averaging 1,010 square feet in size. The design-build team includes general contractor Marlyn Development Corp., architect Cox, Kliewer & Co. and civil engineer Timmons Group. Bonaventure affiliate Vest Residential will serve as the property manager for Attain at Newtown.

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Space Shop Underway on Three Self-Storage Properties in Florida, Virginia Totaling 2,088 Units

John Nelson — Thu, 23 Jul 2026 13:48:09 +0000

ATLANTA — Space Shop Self Storage has three self-storage properties underway in Florida and Virginia totaling 2,088 units. With these projects, the Atlanta-based firm is nearing 80,000 units under management across more than 100 facilities. The newly announced properties include a 715-unit facility located at 134 Mason Ave. in Holly Hill, Fla.; a 668-unit property at 480 Cogan Drive SW in Palm Bay, Fla.; and a 705-unit facility located at 10265 Lakeridge Parkway in Glen Allen, Va. The projects span a combined 297,000 square feet and represent a total investment of $40 million. Space Shop plans to deliver all three properties in spring 2027.

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Finmarc Sells Office Building, Land in Northern Virginia to Pulte Homes for $26.4M

John Nelson — Wed, 22 Jul 2026 13:59:50 +0000

CHANTILLY, VA. — Finmarc Management Inc. has sold an 83,300-square-foot office/flex building and an adjacent 6.4-acre parcel within Park East Corporate Center in Chantilly, about 28 miles west of Washington, D.C. The Bethesda, Md.-based investment company sold the parcels, which total 14 acres, to Pulte Homes for approximately $26.4 million. The Atlanta-based homebuilding giant plans to develop 183 homes on the sites comprising 126 townhomes, 32 condos and 25 affordable and workforce dwelling units. Brendan May and Paul Norman of Cushman & Wakefield represented Finmarc in the transaction. Aaron Rosenfeld of Kelley Drye & Warren LLP provided legal services to Finmarc.

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CoStar Opens $460M Expanded Office Campus in Downtown Richmond

Abby Cox — Mon, 20 Jul 2026 14:21:55 +0000

RICHMOND, VA. — CoStar Group has opened Foundry Park, its newly expanded, $460 million corporate office campus located along the James River in downtown Richmond. The expansion added 750,000 square feet of office and retail space to the riverfront. The now 1 million-square-foot, three-building campus integrates a 26-story office tower, an entry pavilion and a six-story, multi-functional building with a food hall, collaborative workspaces, fitness and wellness amenities and LEED Platinum certification. In addition, the property features approximately three acres of landscaped open space, 50,000 square feet of rooftop terraces and a new riverfront-facing outdoor amphitheater that connects the workplace to the river and the surrounding community. Foundry Park is designed to accommodate more than 3,000 employees working in software development, research, marketing, sales and operations. The project team included Cushman & Wakefield (development manager), Kendall/Heaton Associates (architect of record), Whiting-Turner (general contractor) and Pickard Chilton (design architect).

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NewPoint Provides $34.6M Loan for Hotel-to-Multifamily Conversion Project in Arlington, Virginia

Abby Cox — Fri, 17 Jul 2026 13:24:27 +0000

ARLINGTON, VA. — NewPoint has provided a $34.6 million bridge loan for the acquisition and planned multifamily conversion of the Clarion Collection Arlington Court Suites, a 187-room, extended-stay hotel located in Arlington’s Rosslyn-Ballston corridor. Jacob Gabriel of NewPoint originated the financing on behalf of the borrower, Goodhomes Communities LLC. The bridge loan, which was used to finance the purchase of the hospitality property, includes future funding for capital improvements and is structured to support the borrower’s business plan to convert the asset into a multifamily community. Upon completion of the conversion, the property will offer a mix of studio, one-, two- and three-bedroom apartments. Goodhomes Communities LLC will announce the property’s new name at a later date. Clarion Collection Hotel Arlington Court Suites first opened as an apartment building in 1963.

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Capital Square Sells 2000 West Creek Apartments in Richmond for $115M

John Nelson — Thu, 16 Jul 2026 15:11:59 +0000

RICHMOND, VA. — Capital Square has sold 2000 West Creek, a 373-unit apartment community in Richmond, for $115 million. The locally based company purchased the property in 2019 in a Delaware statutory trust program (DST) for $103 million, giving the trust’s 115 exchange investors a 137 percent total return and more than $17.5 million in distributions during Capital Square’s seven-year hold period. Will Mathews, Thomas Leachman and William Dickinson of Colliers represented the undisclosed seller in the transaction. 2000 West Creek sits on 23 acres and offers one- and two-bedroom apartments and townhomes ranging in size from 774 to 1,246 square feet. Amenities include reserved and garage parking, rentable storage units, bike storage, a coffee bar, conference and meeting rooms, a community lounge and clubhouse, heated saltwater swimming pool, firepit, grilling stations, package and storage system, gift wrapping station, fitness center, dog park and pet spa, media lounge, billiards/game room and a convenience center.

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Newmark Negotiates $132M Sale of Industrial Park in Woodbridge, Virginia

John Nelson — Tue, 14 Jul 2026 14:11:35 +0000

WOODBRIDGE, VA. — Newmark has negotiated the $132 million sale of Featherstone Industrial Park, a 13-building, 734,606-square-foot industrial property in Woodbridge, a city in Northern Virginia that sits about 23 miles from Washington, D.C. The park is located about three miles from I-95 and was fully leased to 45 tenants at the time of sale. The acquisition includes industrial outdoor storage (IOS) and redevelopment opportunities. Ben McCarty, Cris Abramson, Will Bradley, Dustin Volz and Nick Signor of Newmark represented the undisclosed seller in the transaction. The buyer was also not released, but Washington Business Journal reports that an affiliate of Boston-based TA Realty purchased the park from Rosenthal Properties and Stockbridge.

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Ascendant Purchases Eight-Hotel Portfolio Across Virginia Beach, Outer Banks

Abby Cox — Mon, 13 Jul 2026 13:53:06 +0000

LOS ANGELES — Los Angeles-based Ascendant Capital Partners has acquired an eight-property hotel portfolio across Virginia Beach and North Carolina’s Outer Banks region. CBRE Hotels, the hospitality division of CBRE Group, represented the seller, Coastal Hospitality, in the transaction. CBRE also served as financial advisor on behalf of Ascendant. The sales price was not disclosed. Schulte Hospitality Group will assume operations of the portfolio. The portfolio comprises 965 rooms across six hotels in Virginia and two hotels in the Outer Banks. Seven of the eight properties are beachfront, with most rooms offering direct ocean views and outdoor balconies, while the remaining asset is a centrally located town center hotel. The properties include: Ascendant plans to implement capital and operational renovations across the properties.

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Berkadia Negotiates Sale of 20-Story High-Rise Apartment Tower in Arlington, Virginia

John Nelson — Thu, 09 Jul 2026 14:12:29 +0000

ARLINGTON, VA. — Berkadia has negotiated the sale of The Commodore, a 20-story high-rise apartment tower located at 2055 15th St. N in Arlington. GID purchased the community for an undisclosed price. Brian Crivella, Yalda Ghamarian, Bill Gribbin and Jack Canepa of Berkadia represented the seller, Charleston-based Greystar, in the transaction. Built in 2023 in Arlington’s Court House neighborhood, The Commodore features 423 luxury apartments and 18,461 square feet of ground-level retail space. Units come in studio, junior one-bedroom, one-bedroom, junior two-bedroom, two-bedroom, two-bedroom den and penthouse layouts. Amenities include a clubroom, demonstration kitchen, coworking spaces, fitness center and yoga studio, children’s art studio, pet spa, resort-style pool, rooftop terrace, landscaped courtyards and multiple indoor-outdoor gathering spaces.

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