Tuesday, October 14, 2025
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AcquisitionsRetailSoutheastVirginia

First National Realty Partners Acquires Home Depot-Anchored Shopping Center in Manassas, Virginia

by John Nelson

MANASSAS, VA. — First National Realty Partners LLC has acquired Promenade at Manassas, a 287,000-square-foot shopping center that was built in 1995 in Manassas. A 107,000-square-foot Home Depot anchors the property, which is situated 31 miles west of Washington, D.C., at the intersection of I-66 and Sudley Road. Other tenants include a 43,000-square-foot local international grocer, Oh! Market, as well as Ashley Home Furniture, Planet Fitness, The Tile Shop and Sherwin-Williams. Ryan Sciullo of CBRE represented the undisclosed seller in the transaction. The sales price was not disclosed.

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DevelopmentSeniors HousingSoutheastVirginia

Erickson Opens Phase I of $500M Seniors Housing Community in Short Pump, Virginia

by John Nelson

SHORT PUMP, VA. — Erickson Senior Living has opened the first phase of Avery Point, a $500 million continuing care retirement community in Short Pump, a suburb of Richmond. The community is situated on a 94-acre campus and currently features 216 independent living units. A second phase currently under construction will add 107 more independent living units. Upon full buildout, plans call for 1,160 independent living units in addition to an onsite continuing care neighborhood offering assisted living, memory care and skilled nursing services. The property is Erickson Senior Living’s third in Virginia. The design-building team includes Moseley Architects and Brinkmann Constructors.

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DevelopmentMultifamilySoutheastVirginia

Berkadia Arranges $27.7M Equity Placement for Multifamily Project in Williamsburg, Virginia

by John Nelson

WILLIAMSBURG, VA. — Berkadia has arranged a $27.7 million joint venture equity placement to developer GW Real Estate Partners to build a new 265-unit, garden-style apartment community in Williamsburg. The $77 million property is dubbed Montage at Marquis Apartments and is slated for delivery in May 2024. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia JV Equity & Structured Capital secured the equity partner, an unnamed fund manager that provided the equity behind $48.1 million in senior debt issued by Citizens Bank. GW Builders, a wholly owned subsidiary of GW Real Estate Partners, is the general contractor for the project, which will feature one-, two- and three-bedroom apartments averaging 942 square feet in size.

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AcquisitionsIndustrialLeasing ActivitySoutheastVirginia

Cushman & Wakefield | Thalhimer Secures $20M Sale-Leaseback of Distribution Center in Norfolk

by John Nelson

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has secured the $20 million sale-leaseback of a 346,000-square-foot distribution facility located at 1129 Production Road in Norfolk. The undisclosed seller leased back a portion of the property, which is situated on a 18.3-acre site within Norfolk Industrial Park. An entity doing business as 1129 Production Road LLC purchased the property as part of a 1031 exchange. Clark Simpson, Erik Conradi, Geoff Poston and Clay Culbreth of Thalhimer represented the buyer in the transaction. Poston is the exclusive leasing representative for the property and is marketing the remaining industrial space for lease. Christina Erman, also with Thalhimer, has been named portfolio manager of the facility.

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AcquisitionsRetailSoutheastVirginia

ShopOne Centers REIT, Pantheon Purchase Lake Ridge Commons in Woodbridge, Virginia

by John Nelson

WOODBRIDGE, VA. — A joint venture between ShopOne Centers REIT Inc., Pantheon and an unnamed institutional investor has purchased Lake Ridge Commons, a 74,367-square-foot shopping center in Woodbridge. The seller and sales price were not disclosed. Built in 1987, the property is anchored by a 52,706-square-foot Giant Food grocery store and also houses Banfield Pet Hospital and YogaSix. Lake Ridge Commons is the first acquisition in Virginia for the joint venture, which purchased Shoppes on the Parkway in Cary, N.C., last month.

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DevelopmentMultifamilySoutheastVirginia

PTM Partners, IDI Near Completion of 318-Unit Viridium Apartment Development in Woodbridge, Virginia

by John Nelson

WOODBRIDGE, VA. — Co-developers PTM Partners and The IDI Group Cos. have launched leasing at Viridium, a 318-unit, waterfront apartment development located at 1000 Annapolis Way in Woodbridge. The developers began construction in second-quarter 2021, and the first phase is scheduled to be completed and available for move-ins this November. Designed by Heffner Architects, the community’s amenities will include a rooftop terrace, outdoor pool with a sundeck, health and fitness center, business lounge, conference room, theater, dog park and pet grooming facility, electric vehicle charging stations and a putting green and cornhole. Viridium is part of a two-phase project with its sister property Rivergate North, an adjacent 402-unit property that IDI completed in May 2018.

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DevelopmentIndustrialSoutheastVirginia

IRG to Build 227,000 SF Build-to-Suit Logistics Facility Near Port of Virginia in Suffolk

by John Nelson

SUFFOLK, VA. — National industrial real estate development firm Industrial Realty Group LLC (IRG) plans to break ground on a 227,000-square-foot distribution facility in Suffolk near the Port of Virginia. Upon completion, the project will be fully leased to RoadOne IntermodaLogistics, a national intermodal, distribution and logistics services company that will use the facility for transload purposes. The firm operates nearly 100 facilities in the United States and Canada, and the Suffolk facility will be RoadOne’s fourth new transload facility and the second one in Virginia that it has added in the past 18 months. The facility is also RoadOne’s third build-to-suit project near the Port of Virginia. Charles Dickinson of Harvey Lindsay Commercial Real Estate represented both IRG and RoadOne in the lease negotiations. The Los Angeles-based developer expects to complete the project in the third quarter of 2023.

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DevelopmentMixed-UseSoutheastVirginia

Northland Buys 22-Acre Mixed-Use Development Site in Metro Richmond for North End Project

by John Nelson

GLEN ALLEN, VA. — Northland has purchased a 22-acre mixed-use development site in the Innsbrook neighborhood of Glen Allen, a suburb of Richmond. The New England-based private equity investment firm is planning to build a live-work-play development with main street-style retail space at the site, which is dubbed North End. The site is currently zoned for up to 700 multifamily units, 55,000 square feet of retail space and a 150-room hotel. Northland will begin early stages of design and master planning efforts this year. Additionally, Highwoods Properties is planning to develop a Class A, 315,000 square-foot office building adjacent to the site. North End marks Northland’s entry to the metro Richmond market.

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AcquisitionsOfficeSoutheastVirginia

Cushman & Wakefield | Thalhimer Negotiates $24M Sale of Hampton Roads Office Property in Virginia

by John Nelson

CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has negotiated the sale of Crossways I & II, a 213,955-square-foot office property located at 1434 Crossways Blvd. in Chesapeake, a city in Virginia’s Hampton Roads region. Seminole Trail Properties acquired the asset for $24 million and is bringing on affiliate Seminole Trail Management to operate the property. Eric Robison, Bo McKown and Christine Kaempfe of Thalhimer represented the undisclosed seller in the transaction. Kenneth Penrose Jr., also with Thalhimer, represented the buyer. Originally developed in 1999 and expanded in 2002, Crossways I & II was fully 100 leased at the time of sale to tenants including anchor Conduent Business Services, a publicly traded international business services provider that specializes in healthcare and human resources solutions. Conduent occupies more than 50 percent of the property, and the remaining space is leased to insurance, education and financial services firms.

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DevelopmentMixed-UseSoutheastVirginia

Prince William County Approves $380M Mixed-Use Development in Woodbridge, Virginia

by John Nelson

WOODBRIDGE, VA. — The Prince William County Board of Supervisors has unanimously approved the development of Riverside Station, a 19.2-acre mixed-use development located at the intersection of U.S. Route 1 and Route 123 in north Woodbridge. The co-developers, The IDI Group Cos. and Boosalis Properties, expect the town center-style development to bring over $380 million in capital investment to the area. The proposal includes up to 970 housing units and a minimum of 130,000 square feet of commercial space, primarily comprising dining and retail, as well as green spaces and a pedestrian bridge over Route 1. Eight percent of the project’s apartments are set to be affordable to households earning between 60 percent and 100 percent of the area median income. Riverside Station will be developed in three phases, with construction of the first phase, containing up to 330 apartments and 40,000 square feet of commercial space, slated to begin in mid-2023 and deliver in 2025. The current assemblage includes two parcels, one a former car dealership and the other housing a Food Lion-anchored shopping center that will be demolished. Riverside Station is expected to house the relocated Food Lion, according to a source familiar with the development. Once complete, …

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