Virginia

MDH Partners Acquires 182,000 SF Chesapeake Industrial Park in Hampton Roads

by John Nelson November 2, 2022

CHESAPEAKE, VA. — MDH Partners has acquired Chesapeake Industrial Park, a two-building, 182,000-square-foot industrial property located at 3804 and 3808 Cook Blvd. in Chesapeake. This is Atlanta-based MDH’s second Virginia purchase this year, following the purchase of AeroFarms Danville in May. Chamie Burroughs and Ricky Anderson of Colliers represented the undisclosed seller in the transaction. Joe DeHaven and Makenna Barbara served as the acquisition leads for MDH Partners. The sales price was not disclosed. The park’s two 90,000-square-foot facilities were fully leased at the time of sale and feature 30-foot clear heights and 23 dock-high doors.

November 2, 2022

Acquisitions Retail Southeast Virginia

Matthews Arranges $10.6M Sale of Retail Property in Virginia Beach Leased to CVS

by John Nelson October 31, 2022

VIRGINIA BEACH, VA. — Matthews Real Estate Investment Services has brokered the sale of a 13,225-square-foot store located at 1701 Independence Blvd. in Virginia Beach. The single-tenant property was leased to CVS/pharmacy at the time of sale Preston Schwartz and Chad Kurz of Matthews represented the private seller in the transaction. Jason Maier of Stan Johnson Co. represented the undisclosed buyer, which acquired the property for $10.6 million. CVS/pharmacy has a little over 12 years remaining on the lease.

October 31, 2022

Acquisitions Colorado Georgia Maryland Self-Storage Southeast Tennessee Virginia

Ziff Purchases Six Self-Storage Properties in Southeast, Colorado Totaling 2,750 Units

by John Nelson October 27, 2022

MOUNT PLEASANT, S.C. — Ziff Real Estate Partners has purchased six self-storage properties in the Southeast and Colorado totaling 2,750 climate- and non-climate-controlled units, including boat and RV rental spaces. The Mount Pleasant-based investor purchased the assets for an undisclosed price via its ZRP Storage Opportunity Fund. The assets in the portfolio include four existing properties: Morristown Self Storage in Morristown, Tenn.; J&S Self Storage in Fountain, Colo.; Mocks Hwy 20 Self Storage in Cumming, Ga.; and Atlas Business Center in Gainesville, Ga. The portfolio also includes two buildings in Roanoke, Va., and Waldorf, Md., that were acquired for conversion to self-storage properties branded under the StoreEase flag. Combined the six assets span 340,000 net rentable square feet. The sellers were not disclosed.

October 27, 2022

Acquisitions Multifamily Southeast Virginia

Capstone Arranges $68.9M Sale of West Edge Apartments in Lynchburg, Virginia

by John Nelson October 25, 2022

LYNCHBURG, VA. — Capstone Apartment Partners has arranged the $68.9 million sale of West Edge Apartments, a newly built, 270-unit multifamily community located on 22.7 acres in Lynchburg. Eric Liebich and Ron Corrao of Capstone arranged the off-market transaction between the undisclosed seller and the buyer, Gastonia, N.C.-based Southwood Realty. Delivered earlier this year by the unnamed developer, West Edge features one-, two- and three-bedroom layouts. Amenities include a swimming pool, a clubhouse/community center, fitness center and laundry facilities. West Edge was 96 percent occupied at the time of the sale.

October 25, 2022

Development Mixed-Use Southeast Virginia

JBG Smith Files Plans to Develop Mixed-Use Project in Arlington

by Taylor Williams October 21, 2022

ARLINGTON, VA. — Chevy Chase, Md.-based developer JBG Smith has filed plans with the City of Arlington to develop a mixed-use project within the 36-acre Riverhouse district. The project would preserve three existing multifamily buildings while also adding three mid-rise apartment complexes with more than 1,000 units, as well as 185 seniors housing residences, 265 townhomes and 164 for-sale condos. In addition, the project would feature 30,000 square feet of retail and restaurant space and more than seven acres of public parks and green spaces that would be connected by trails and paths. Lastly, JBG Smith would invest in infrastructural improvements throughout the district and commission public art installations. The development team is engaging in the communal outreach phase of the project while it awaits the completion of the permitting and approvals process.

October 21, 2022

Acquisitions Mixed-Use Southeast Virginia

Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Leasing Activity Office Southeast Virginia

JBG Smith Signs HII to 36,809 SF Office Lease at National Landing in Northern Virginia

by John Nelson October 20, 2022

ARLINGTON, VA. — JBG Smith has signed military shipbuilder HII (Huntington Ingalls Industries) to a 36,809-square-foot office lease at National Landing, a neighborhood in Arlington headlined by Amazon’s new HQ2 campus. HII signed the 11.5-year lease to occupy space within the 11-story 2451 Crystal Drive office tower, which was built in 1990. The firm will move into the space in late summer 2023 and will have signage rights on the tower, according to JBG Smith. HII joins the growing roster of defense-adjacent companies with major presences in the region, including Boeing and Raytheon, both of which are establishing their global headquarters in the National Landing area. Adam Schindler and Perry Frazer of Colliers represented HII in the lease negotiations. Andrea Murray and Connor Stewart represented JBG Smith on an internal basis.

October 20, 2022

Development Leasing Activity Mixed-Use Retail Southeast Virginia

Comstock Signs Puttshack to Lease at Reston Station Mixed-Use Project in Northern Virginia

by John Nelson October 19, 2022

RESTON, VA. — Comstock Holding Cos. Inc. has signed mini-golf retail concept Puttshack to anchor Phase II of Reston Station, an 80-acre mixed-use project underway in Northern Virginia. Located near the Wiehle-Reston East Metro Station at 1850 Reston Row Plaza in Reston, Puttshack will be the project’s first active entertainment venue when it opens in summer 2025. The more than 29,000-square-foot space will feature four nine-hole mini-golf courses equipped with Puttshack’s proprietary Trackaball technology that keeps track of patrons scores as they play. The venue will also have a full dining menu and hand-crafted cocktails, as well as multiple bars and private event spaces for parties and business outings. Chicago-based Puttshack recently completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments to help fuel the operator’s expansion plans.

October 19, 2022

Acquisitions Retail Southeast Virginia

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

by John Nelson October 14, 2022

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.

October 14, 2022

Development Seniors Housing Southeast Virginia

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

by John Nelson October 13, 2022

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.

October 13, 2022

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