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Richmond/Hampton Roads
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Retired Guy Pays $3.9M for Patient First Bldg. in Midlothian
The 6,310-square-foot Patient First at 11020 Hull Street Rd. at the Genito Crossing shopping center in Midlothian, VA Reston, VA-based Retired Guy purchased a 6,310-square-foot retail building at the Genito Crossing shopping center in Midlothian, VA...

FD Stonewater Enters Richmond Market with $62.4M Acquisition of SunTrust Center
The 214,273-square-foot SunTrust Center One at 11011 W. Broad St. in Glen Allen, VACredit: Cushman & Wakefield|Thalhimer Arlington, VA-based FD Stonewater, a boutique brokerage, investment, development and asset management firm, purchased a two-building...

Washington, D.C.-based Investor Pays $3.8M for Party Perfect Bldg.
The 49,786-square-foot Party Perfect building Richmond, VA Washington, D.C.-based Goshen Ventures purchased a 49,786-square-foot manufacturing building in Richmond, VA from Party Perfect, a supply store, in a sale-leaseback deal. The Party Perfect...

Mercer Street Partners Pays $9.8M for Fully Leased Class A Office Bldg.
The Class A Corporate Center V office building at 4425 Corporation Lane in Virginia Beach, VA Mercer Street Partners, a New York-based private investment firm, purchased a 70,760-square-foot office building at the Corporate Center business park in...

Apartment Demand Strengthens As Homeownership Rate Trends Downward
The 125-unit Cary Street Station apartment building in Richmond, VA Homeownership is often cited by industry experts as the greatest threat to apartment demand, and the trend between the two is clearly correlated in Richmond. The local home buying...

Spy Rock, Stanley Shield Pay $5.2M for Vacant Richmond Distribution Bldgs.
The Interbake distribution building at 947 Myers St. in Richmond, VA Stanley Shield, a local construction management company, along with Spy Rock Real Estate Group, a development and investment firm that focuses on infill sites, purchased two vacant...

United Property Associates Picks Up 218-Unit Suburban Richmond Apt. Complex
The 218-unit Ashland Towne Square apartment complex in Ashland, VA Virginia Beach, VA-based United Property Associates, a full-service investment firm, purchased a 218-unit apartment complex in Ashland, VA from R.C. Evans Management Group. Ashland...

CBRE Tapped to Lease Retail and Office Portion of $300M Summit Pointe Development
Construction on the 510,000-square-foot office building in Chesapeake, VACredit: Summit Pointe Summit Pointe Realty selected CBRE | Hampton Roads (CBRE) to lease the office and retail components of Summit Pointe, a new mixed-use, $300 million development...

CoStar Market Insights: Richmond Apartment Market Poised For Effective Rent Growth
Looking for some free rent on an apartment? Be prepared to look hard. With concession levels at a three-year low, discounts on a new apartment are becoming increasingly difficult to find in Richmond, as shown on the chart. This might be bad news...

Red Starr Investments, Georgetown Partners Pay $4.7M for Class A Medical Office Bldg.
The Commonwealth Bldg. at 7301 Forest Ave. in Richmond, VA A joint venture between Red Starr Investments and Georgetown Partners purchased a 40,303-square-foot medical office building in Richmond, VA from Robinson Development Group. The Commonwealth...

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