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Fayetteville, North Carolina, Evacuates Downtown Ahead of Potentially Catastrophic Flooding
A small plaza submerged under several feet of water marked the start of flooding Tuesday in the aftermath of Hurricane Florence. Photo credit: Paul Owers, CoStar Group On the edge of downtown Fayetteville, North Carolina, the flooding from Hurricane...

Miami Beach-Based Company Picks Up Turning Basin in Richmond
The 12,436-square-foot Southern Railway building in Richmond, Virginia. Miami Beach, Florida-based Jewell Capital purchased an 80,378-square-foot office building, along with an adaptive reuse of the 12,436-square-foot historic Norfolk and Southern...

Fayetteville, North Carolina, Watches Rivers Rise Amid Curfew, Spotty Power, Boarded Up Businesses
Even 90 miles inland in North Carolina, businesses were closed in Fayetteville in the wake of Hurricane Florence. Photo credit: Paul Owers, CoStar Group In Fayetteville, North Carolina, 90 miles west of the worst of Hurricane Florence, sandbagged and...

Hurricane Florence Threatens More Than $33 Billion in Commercial Property
Hurricane Florence, an intensifying Category 3 storm nearing the shores of North Carolina and South Carolina, will imperil an estimated $33.5 billion in commercial real estate. In an analysis of the coastline from Georgetown, South Carolina, to...

Southern States Sells Class A Richmond Office Building in $14.7M Sale-Leaseback Deal
The 206,068-square-foot, Class A office building at Brookfield Office Park in Richmond, Virginia. Thalhimer Realty Partners (TRP) purchased a 206,068-square-foot office building at Brookfield Office Park in Richmond, Virginia, from Southern States...

Capital Square Pays $21.5M for Mayton Transfer Lofts
The 218-unit Mayton Transfer Lofts in Petersburg, Virginia. Glen Allen, Virginia-based Capital Square 1031, a national investment and management firm, purchased a 218-unit apartment complex in Petersburg, Virginia, from Waukeshaw Development. Mayton...

Northstar Pays $4.5M for Affordable Housing Complex in Danville
Leasing office at the 168-unit Northpointe apartment complex in Danville, Virginia. Northstar Equity Partners, a full-service investment firm, purchased a 168-unit affordable housing complex in Danville, Virginia, from a private investor. Northpointe...

Lexington Realty Trust Sells $726 Million Office Portfolio as Focus Shifts to Single-Tenant, Net-Leased Industrial Properties
The 200,000-square-foot AvidExchange office building in Charlotte, North Carolina, was one of 21 Lexington Realty Trust sold to a new joint venture. Lexington Realty Trust sold its majority ownership in a portfolio of 21 office buildings for $726...

Brick Lane Pays $25M for Richmond Apartment Complex
The 348-unit Falling Creek apartment complex in Richmond, Virginia. Brick Lane, an investment, development and management firm based in Washington, D.C., purchased a 348-unit apartment complex in Richmond, Virginia, from BAF Associates. Falling Creek...

S.L. Nusbaum Elevates Childress to Officer in Norfolk
Susan Childress has been promoted to officer at S.L. Nusbaum Realty Co. in Norfolk, Virginia. The 30-year industry veteran joined the firm in 2009 as a corporate marketing director, where she oversaw all marketing efforts for brokerage and corporate...

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