Virginia

Trammell Crow, Keane Enterprises Break Ground on New HQ for K2M in Metro D.C.

by John Nelson January 28, 2015

LEESBURG, VA. — Trammell Crow Co. (TCC) and Keane Enterprises Inc. have broken ground on the new global headquarters for K2M Group Holdings Inc., an international medical device company that designs, develops and commercializes technologies and techniques related to the spine. The 146,000-square-foot build-to-suit project will be located in Keane’s Oaklawn master-planned community in Leesburg, a suburb of Washington, D.C. K2M’s new headquarters will be comprised of a 62,000-square foot, three-story office building and an 84,000-square-foot, one-story research and development building. The office building will house general administrative, executive and sales staff, and the research and development building will contain office, conferencing, research and assembly space. TCC and Keane expect to wrap up construction on the project and open for occupancy in early 2016.

January 28, 2015

Norfolk Consolidated Courts Complex Virginia

Civic Southeast Virginia

Phase I of $121.5M Norfolk Consolidated Courts Complex Opens

by John Nelson January 27, 2015

NORFOLK, VA. — The city of Norfolk has opened the first phase of the Norfolk Consolidated Courts Complex, a 315,000-square-foot complex that combines three courthouses into one. Both phases will cost approximately $121.5 million to develop. The eight-story Phase I will consolidate the Circuit and General District courts into a single facility. Phase II, which is slated for an early 2017 completion, will add the Juvenile and Domestic Relations courts. The design team, including architect Fentress Architects and general contractors Archer Western and Heery International, is constructing the complex to achieve LEED Silver certification.

January 27, 2015

Affordable Housing Loans Multifamily Southeast Virginia

Oak Grove Capital Arranges $19.5M Refinance for Affordable Housing Properties in Virginia

by John Nelson January 26, 2015

COLONIAL HEIGHTS, VA. — Oak Grove Capital has arranged the refinancing of two affordable housing properties in Colonial Heights totaling $19.5 million. The two assets, Colonial Ridge and Bermuda Run Apartments, total 292 units. Tim Leonhard of Oak Grove Capital arranged the fixed-rate, preservation loan through Freddie Mac on behalf of the unnamed borrower.

January 26, 2015

Retail Southeast Virginia

C&W|Thalhimer Brokers $2.5M Sale of Starbucks-Anchored Strip Center

by John Nelson January 21, 2015

VIRGINIA BEACH, VA. — Cushman & Wakefield | Thalhimer has brokered the $2.5 million sale of a freestanding retail strip center located at 5824 Northampton Blvd. in Virginia Beach. Boulevard CAF Associates LLP purchased the 7,011-square-foot, Starbucks-anchored property from Megalo LLC. Dean Martin of Cushman & Wakefield | Thalhimer represented the buyer in the transaction.

January 21, 2015

Station Square at Cosner’s Corner Fredericksburg

Multifamily Southeast Virginia

Doster Construction to Break Ground on Multifamily Community in Virginia

by John Nelson January 13, 2015

FREDERICKSBURG, VA. — Doster Construction Co. has been selected to construct Phase II of Station Square at Cosner’s Corner, a 120-unit apartment complex in Fredericksburg. The project team, including developer MAA Communities and architect Davis Architects, will break ground on the apartment community in the first quarter. Upon completion, the property will feature upscale kitchens, crown molding, screened balconies and patios, washers and dryers, walk-in closets, a resort-style swimming pool, fitness center and a business center.

January 13, 2015

Multifamily Southeast Virginia

Capstone Brokers $17.5M Sale of Apartment Community in Richmond

by John Nelson January 7, 2015

RICHMOND, VA. — Capstone Apartment Partners has brokered the $17.5 million sale of Ashton Square Apartments, a 372-unit apartment community located in Richmond. The property, originally built in 1964, was 95.4 percent occupied at the time of sale. Kohn Family Trust purchased Ashton Square from Weinstein Properties for roughly $47,151 per unit. Todd Conner, Jared Alcorn and Beau McIntosh of Capstone represented Weinstein Properties in the transaction.

January 7, 2015

Hospitality Southeast Virginia

CBRE Hotels Brokers Sale of 11-Property Portfolio in the Southeast

by John Nelson January 6, 2015

NORFOLK, VA. — CBRE Hotels has brokered the sale of 11 upscale select-service and extended-stay hotels in the Southeast. Noble Investment Group purchased the portfolio from McKibbon Hotel Group Inc. for an undisclosed amount. The portfolio spans 1,308 rooms in five states and includes brand affiliations with Marriott and Hilton. McKibbon Hotel Management Inc. will continue to manage the portfolio. Doug Henkel, Lew Miller, Andy Wimsatt, Lisa Zaranek, Ron Danko and Kym Halsted of CBRE Hotels represented McKibbon Hotel Group in the transaction. CBRE Capital Markets provided acquisition financing on behalf of Noble Investment Group.

January 6, 2015

Multifamily Southeast Virginia

CBRE Global Investors Buys Apartment Community in Metro D.C.

by John Nelson December 16, 2014

SPRINGFIELD, VA. — CBRE Global Investors has acquired the Residences at Springfield Station, a Class A, 631-unit garden and mid-rise apartment community in Springfield, a suburb of Washington, D.C. The property is located at 6802 Junction Blvd. adjacent to the Franconia-Springfield Metro Station. Springfield Station was 94 percent occupied at the time of sale. CBRE Global Investors plans to rehab the property’s interiors with updating lighting and plumbing fixtures, two-inch window blinds, stainless steel appliance packages, two-tone paint, new carpets, upgraded cabinets and hardware and new countertops. Common area improvements will include a modernized clubhouse and fitness center, enhancements to the resort-style pool deck, the addition of a dog park and improvements to the accessibility of mass transit.

December 16, 2014

Office Southeast Virginia

Carr Properties Begins Demolition, Pre-Construction on Arlington Office Building

by John Nelson December 15, 2014

ARLINGTON, VA. — Carr Properties has begun the demolition and pre-construction phase for a 175,000-square-foot, eight-story office building located at 2311 Wilson Blvd. in Arlington. The building, which is designed to achieve LEED Gold certification, will be ready for occupancy in 2017. The office building will feature street-level retail space, a conference room, restaurant and café, childcare facility, health club, bike room, rooftop terrace and an 18,000-square-foot urban park with gardens. Carr Properties has hired Spencer Stouffer, Krysta Herring and Phillip Thomas of Cassidy Turley to handle leasing the office building.

December 15, 2014

Multifamily Southeast Virginia

CBRE | Hampton Roads Brokers $24.7M Sale of Virginia Beach Apartment Complex

by John Nelson December 11, 2014

VIRGINIA BEACH, VA. — CBRE | Hampton Roads has brokered the $24.7 million sale of Bancroft Hall, a 244-unit apartment community located at 1031 Essex Court in Virginia Beach. S.L. Nusbaum purchased the property from Harbor Group International. The apartment community features a dog park, swimming pool, fitness center, children’s playground and media room equipped with Wi-Fi. Dan Johnson and Hank Hankins of CBRE | Hampton Roads represented the seller in the transaction.

December 11, 2014

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