Virginia

The Milgraum Center in Downtown Charlottesville Sells for $1.9M

by John Nelson November 14, 2014

CHARLOTTESVILLE, VA. — CBRE | Charlottesville has brokered the $1.9 million sale of The Milgraum Center, a 25,000-square-foot mixed-use building located at 310-312 E. Main St. in downtown Charlottesville. The property was 92.5 percent leased at the time of sale to tenants such as Silverchair Information Systems and Vita Nova Pizza. Milgraum Trust sold the property to Armory 310 East Main LLC. Rob Stockhausen of CBRE | Charlottesville represented the seller in the transaction, while Carolyn Shears of CBRE | Charlottesville represented the buyer.

November 14, 2014

Office Southeast Virginia

The Simpson Organization Purchased Office Portfolio in Richmond for $22M

by John Nelson November 11, 2014

RICHMOND, VA. — The Simpson Organization has acquired Westerre I and II, a Class A office portfolio in the Westerre Office Park in Richmond, for $22 million. The office assets total 163,290 square feet and are 92.1 percent leased to 26 tenants, including Tridium Inc., Interbake Foods LLC, Comcast and Batzli Stiles Butler Law Firm. Eric Robison of Cushman & Wakefield | Thalhimer’s Richmond office represented the undisclosed seller in the transaction. The Simpson Organization has hired Dean Meyer and Mac Wilson of Cushman & Wakefield | Thalhimer to lease the properties going forward.

November 11, 2014

Multifamily Southeast Virginia

ARA Brokers Sale of Infinity Apartments in Arlington

by John Nelson November 11, 2014

ARLINGTON, VA. — ARA has brokered the sale of Infinity Apartments, a 227-unit, mid-rise apartment community in Arlington. Washington, D.C.-based Capital Investment Advisors acquired the property from San Francisco-based Carmel Partners for an undisclosed price. Drew White, Mike Marshall and Ryan Ogden of ARA represented Carmel Partners in the transaction. Capital Investment Advisors plans to make upgrades to the common areas of the apartment community, which was constructed in 1959 and renovated in 2011. Occupancy at the time of the sale was 96.7 percent.

November 11, 2014

Loans Southeast Virginia

Cassidy Turley Arranges $122M Acquisition Loan for Canal Center in Alexandria

by John Nelson November 4, 2014

ALEXANDRIA, VA. — Cassidy Turley has arranged $122 million in acquisition financing for Canal Center, a 538,895-square-foot, Class A office campus in Old Town Alexandria. The four-building complex sits alongside the Potomac River. John Campanella and Paul Spellman of Cassidy Turley arranged the loan through an unnamed bank on behalf of the borrower, American Real Estate Partners.

November 4, 2014

Loans Southeast Virginia

Capital One Provides $12.7M Fannie Mae Loan to Refinance Apartment Community in Richmond

by John Nelson November 3, 2014

RICHMOND, VA. — Capital One Multifamily Finance has provided a $12.7 million Fannie Mae loan to refinance Wilde Lake Apartments, a 190-unit apartment community in Richmond. Sadhvi Subramanian and Mike Antonelli of Capital One originated the 10-year loan with a 30-year amortization schedule on behalf of the borrower, an affiliate of Lerner Enterprises. The property’s amenity package includes a pool, fitness center with a sauna, tennis courts and a clubhouse with a billiards room.

November 3, 2014

Multifamily Southeast Virginia

Thalhimer Realty Partners Buys Cornish Brewery, Kinney Street Apartments for $4.6M

by John Nelson October 29, 2014

RICHMOND, VA. —Thalhimer Realty Partners Inc. has purchased Cornish Brewery and the Kinney Street Apartments in Richmond for a combined $4.6 million. The two apartment communities total 49 units and are located on Virginia Commonwealth University’s Monroe Park Campus. Mac Wilson of Cushman & Wakefield | Thalhimer represented Thalhimer Realty in the transaction. Thalhimer Realty has tapped Cushman & Wakefield | Thalhimer’s student housing management group to manage the two properties. Thalhimer Realty Partners is the investment and development subsidiary of Cushman & Wakefield | Thalhimer.

October 29, 2014

Office Southeast Virginia

NAI KLNB Brokers $60.5M Sale of Office Portfolio in Metro D.C.

by John Nelson October 21, 2014

CHANTILLY, VA. — NAI KLNB has brokered the $60.5 million sale of a five-building office portfolio totaling 318,000 square feet in Chantilly, roughly 30 miles west of Washington, D.C. Hayden Maguire Real Estate Fund purchased the portfolio, which is located in Avion Business Park, from JPMCC 2006-CIBC14 Chantilly Office LLC. The Class A properties included MidRise I at 14500 Avion Parkway; MidRise II at 14520 Avion Parkway; Service Center III at 3650 Concorde Parkway; Avion Tech Center II at 14700 Avion Parkway; and Avion Tech Center III at 3635 Concord Parkway. Avion Business Park was originally developed by Trammell Crow Co. between 1987 and 2001. Kevin Goeller, Chris Kubler and Josh Simon of NAI KLNB, along with C-III Realty Services LLC, represented the seller in the transaction.

October 21, 2014

Multifamily Southeast Virginia

ARA Brokers Sale of Three-Property Multifamily Portfolio in Hampton Roads

by John Nelson October 14, 2014

HAMPTON AND NEWPORT NEWS, VA. — ARA has brokered the sale of a three-property apartment portfolio in the Hampton Roads area of Virginia totaling 641 units. The assets include Bridgewater on the Lake and Lake Ridge Apartments in Hampton and the Reserves at Arboretum in Newport News. Mike Marshall, Drew White and Wink Ewing of ARA represented the seller, Berkshire Property Advisors, in the transaction. The buyer was Charlotte-based Ginkgo Residential.

October 14, 2014

Multifamily Southeast Virginia

Kettler to Begin Construction on High-Rise Apartment Community in Arlington

by John Nelson October 9, 2014

ARLINGTON, VA. — Kettler is planning to develop an 11-story, 198-unit high-rise apartment community in Arlington’s Crystal City neighborhood known as m.flats Crystal City. Capital One is providing construction financing for the project. KTGY Group Inc. has designed m.flats Crystal City to meet LEED Silver certification. The transit-oriented development will be located one block from the Crystal City Metro station and will feature a resident lounge with a gaming area, fitness center, street-entry bike room, landscaped courtyard with fire and water features, outdoor seating and dining areas, outdoor kitchens and a swimming pool with a sundeck and cabanas. The project team includes civil engineer Bohler Engineering and general contractor John Moriarty & Associates. The property will be Kettler’s sixth multifamily project in the Crystal City/Pentagon City market. Kettler is expecting to break ground this month and wrap up in October 2016.

October 9, 2014

Industrial Southeast Virginia

NAI KLNB Brokers Four Leases Totaling 180,000 SF at Airport Commerce Center

by John Nelson October 8, 2014

STERLING, VA. — NAI KLNB has brokered four leases totaling 180,000 square feet at Airport Commerce Center, a five-building, 408,000-square-foot industrial park in Sterling, near the North Gate of Washington-Dulles International Airport. With these four lease transactions, the industrial park is now 100 percent occupied. Marc Tasker and Kevin Goeller of NAI KLNB represented the owner, Deutsche Asset & Wealth Management, in all four lease transactions. The leases consisted of Eastern Motors signing a lease for 77,488 square feet at 22705 Commerce Center Court, with Bob Gibbs of CBRE representing the tenant; ViON Corp. signing a lease for 42,766 square feet at 22704 Commerce Center Court, with Chet Rao of NGKF representing the tenant; Cardinal Bakery signing a lease for 36,122 square feet at 22704 Commerce Center Court, with Bob White of Landmark Commercial representing the tenant; and Simplex Grinnell signing a lease for 23,787 square feet at 22712 Commerce Center Court.

October 8, 2014

Newer Posts

Older Posts

Upcoming Events

Aug
18