Virginia

Alamo Drafthouse Cinema to Open at Stonebridge at Potomac Town Center in Metro D.C.

by John Nelson April 14, 2017

WOODBRIDGE, VA. — The JBG Cos. has signed Alamo Drafthouse Cinema to open its second theater in northern Virginia at Stonebridge at Potomac Town Center in Woodbridge, roughly 23 miles south of Washington, D.C. Spanning eight screens and 865 seats, the dine-in movie theater chain will open next summer or early fall. JBG will develop a Town Square in front of the new theater that will include green space for events and typical park use. Austin-based Alamo Drafthouse Cinema operates 25 locations across the country, with four more to open in the near future. Other tenants at Stonebridge include Wegmans, Apple, Orvis, DSW, REI, Uncle Julio, South Moon Under, Brew Republic Bierwerks, Sushi Jim and BurgerFI.

April 14, 2017

Office Southeast Virginia

Virginia Government Agency Leases 81,553 SF in Downtown Richmond

by John Nelson April 5, 2017

RICHMOND, VA. — The Virginia Department of Environmental Quality (DEQ) has leased 81,553 square feet of office space in downtown Richmond. The agency will occupy four floors at Bank of America Center, an office building located at 1111 E. Main St. With the Virginia DEQ lease, the office building is 88 percent leased to tenants including the Virginia Cable Telecommunications Association, Haneberg Hurlbert PLC and the Virginia Bar Association. Malcolm Randolph and Scott Durham of CBRE | Richmond represented the owner, a joint venture between District Bay Realty Advisors and developer Joe Ersek, in the lease transaction.

April 5, 2017

Hospitality Southeast Virginia

LaSalle Hotel Properties Sells Metro D.C. Resort for $133M

by John Nelson April 4, 2017

LEESBURG, VA. — LaSalle Hotel Properties has sold Lansdowne Resort, a 296-room hotel and resort located at 44050 Woodridge Parkway in Leesburg, about 33 miles from Washington, D.C. An undisclosed buyer purchased the property from LaSalle Hotel Properties for $133 million. Situated along the Potomac River in Northern Virginia, the property features 55,000 square feet of meeting space, Spa Minerale, The Golf Club at Lansdowne with 45 holes of golf, a health club and fitness center, indoor lap pool, four outdoor pools, driving range, tennis and volleyball courts, horseshoes and a business center. LaSalle Hotel Properties acquired the property in 2003 for $115.8 million. The company has also sold Alexis Hotel in Seattle for $71.6 million and is under contract to sell Hotel Triton in San Francisco for $14.3 million.

April 4, 2017

Retail Southeast Virginia

Marcus & Millichap Brokers $23.6M Sale of 7-Eleven Portfolio in Virginia

by Taylor Williams March 16, 2017

HAMPTON, VA. — Marcus & Millichap has brokered the $23.6 million sale of a nine-property 7-Eleven portfolio located in the Tidewater region of Virginia. Three of the 7-Eleven properties are located in Hampton, and two are in Williamsburg. The remaining properties are located in Poquoson, Newport News, Gloucester and Surry. Mark Taylor, Derrick Dougherty and David Becattini of Marcus & Millichap represented the seller, a privately held entity, and procured the buyer, an unnamed REIT.

March 16, 2017

Southeast Student Housing Virginia

Columbus Pacific Acquires Student Housing Community Near University of Virginia

by John Nelson March 10, 2017

CHARLOTTESVILLE, VA. — Columbus Pacific has acquired The Pavilion at North Grounds, a 528-bed student housing community located near the University of Virginia campus in Charlottesville.   The acquisition was financed with a $58.1 million, 10-year, fixed-rate loan arranged by Brian Eisendrath and Cameron Chalfant of CBRE. Columbus Pacific’s planned renovations for the community include new pool furniture; refreshments to the pool area; the addition of an outdoor dog park; and enhancements to the front lobby, to include a more functional and modern cyber café. Homestead U, an affiliate of Columbus Pacific, will manage the property.

March 10, 2017

Retail Southeast Virginia

Regency Centers Begins Construction on $44.5M Wegmans-Anchored Shopping Center in Metro D.C.

by John Nelson March 9, 2017

CHANTILLY, VA. — Regency Centers Corp. has broken ground on The Field at Commonwealth, a $44.5 million, 180,000-square-foot shopping center located at the intersection of U.S. Highway 28 and Westfields Boulevard in Chantilly, roughly 25 miles west of Washington, D.C. The project will be anchored by a 120,000-square-foot Wegmans, a Rochester, N.Y.-based chain that operates large, upscale supermarkets. Regency Centers plans to deliver the shopping center in 2018.

March 9, 2017

Mixed-Use Southeast Virginia

Edens, Gables Residential Break Ground on Mixed-Use Project in Alexandria

by John Nelson March 9, 2017

ALEXANDRIA, VA. — Edens and Gables Residential have broken ground on a new mixed-use project located at 530 First St. in Alexandria. The groundbreaking ceremony was attended by principals of Edens and Gables Residential, as well as Alexandria Mayor Allison Silberberg and members of the city government. The project will include 232 apartment residences and 50,000 square feet of commercial space. The property will also feature an enhanced streetscape, public art on-site and a Capital Bikeshare station. Edens and Gables Residential plan to open the 530 First Street project in 2019.

March 9, 2017

Industrial Southeast Virginia

Finmarc Purchases 15-Building Industrial Portfolio in Northern Virginia for $58M

by John Nelson March 6, 2017

WOODBRIDGE AND FREDERICKSBURG, VA. — Finmarc Management Inc. has purchased a 15-building, 750,000-square-foot industrial portfolio in northern Virginia’s I-95 corridor from Stewart Investment Co. for $58 million. Contained primarily within the Featherstone Industrial Park in Woodbridge and including a property in Fredericksburg, the portfolio was 91 percent leased at the time of sale to more than 25 tenants, including Coleman American Moving Services, Joe Moholland Moving Inc., The United States General Services Administration, Arven Moving & Storage and Atlantic Transfer Inc. Marc Rampulla, Mark Levy and Jay Wellschlanger of JLL were the brokers of record in the transaction. Finmarc has retained John Detleff of JLL to manage leasing activities for the portfolio.

March 6, 2017

Hospitality Southeast Virginia

Lingerfelt CommonWealth Sells Marriott Hotel in Metro Richmond for $38.5M

by John Nelson March 2, 2017

GLEN ALLEN, VA. — Lingerfelt CommonWealth Partners LLC, a Richmond-based commercial real estate investment firm, has sold the 243-room Richmond Marriott Short Pump for $38.5 million. The hotel is located at 4240 Dominion Blvd. in Glen Allen. The buyer, a partnership of regional investors, has retained Commonwealth Lodging Management, Lingerfelt CommonWealth’s hotel management affiliate, to operate the hotel. In October 2015, Commonwealth Lodging oversaw an $11 million renovation of the hotel. The property features complimentary high-speed internet, a swimming pool, fitness center and event space.

March 2, 2017

Office Southeast Virginia

Divaris Arranges Tech Firm’s Corporate Headquarters Office Lease in Virginia Beach

by John Nelson February 27, 2017

VIRGINIA BEACH, VA. — Divaris Real Estate Inc. has arranged a 39,000-square-foot office lease within Town Center of Virginia Beach, a 17-block mixed-use development in Virginia Beach. The tenant, Mythics Inc., an Oracle systems integrator and consulting firm, will occupy the top floor and majority of the eighth floor of a LEED-certified office building located at 4525 Main St. Mythics retained Vivian Turok of Divaris Real Estate to represent the firm in its search for new corporate headquarters. Mythics will relocate 143 full-time employees to the new headquarters, with plans to create an additional 30 full-time positions. Michael Divaris and Krista Costa, also with Divaris Real Estate, represented the landlord, TCA Block 11 Office LLC, in the lease deal. Town Center of Virginia Beach features seven office buildings totaling 900,000 square feet of office space, including 4525 Main, which was 95 percent leased at the time of the lease.

February 27, 2017

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