Hertz Investment Group has paid $79 million, or nearly $196/sf, for the 403,276-square-foot Dominion Tower office building in Norfolk, Va. The property is the first in the Norfolk area for Hertz, a Woodland Hills, Calif., investment manager. It bought it ...
Multi-Housing News Virginia-based Seminole Trail Properties has acquired the 458-unit Mariners Cove Apartments in Virginia Beach, Va., for $52.2 million, or $113,974/unit. The garden-style property at 832 Blackfriars Dr. was built in 1969 and will undergo significant renovations under the ...
The Virginian-Pilot Plans for River Tower seniors-housing project in Norfolk, Va., have been scaled back. The $120 million luxury apartment development has been reduced to 22 stories with 130 apartment and more than 30 memory-support units, from its original 27 ...
The Virginian-Pilot Simon Property Group has withdrawn from a venture with S.L. Nusbaum that's building the 250,000-square-foot Burton Crossing shopping center in Norfolk, Va. It is unclear why the Indianapolis REIT withdrew, but S.L. Nusbaum plans to continue with the ...
The Virginian-Pilot Harmony Hospitality is proposing two hotels on city-owned land in Norfolk, Va. Plans for the land along Princess Anne Road call for a 107-room Home2 Suites by Hilton and another yet-to-be named hotel, as well as a restaurant. Rezoning ...
To fund its purchase, Wheeler would assume $58.4 million of mortgage debt against the property. A total of $53.7 million of that indebtedness is securitized through COMM, 2013-CCRE9. The loan pays a coupon of 4.49 percent, amortizes on a 25-year ...
Commercial Real Estate Direct Staff Report Wheeler REIT has agreed to buy the JANAF Shopping Yard, an 887,917-square-foot retail center in Norfolk, Va., for $85.65 million, or $96.50/sf, increasing the size of its portfolio by 18 percent. The Virginia Beach, ...
Virginia Business STIHL Inc. plans to expand its existing 21,000-square-foot administration facility on Viking Drive in Virginia Beach, Va., by 80,000 sf. The $25 million project will house finance and controlling, sales and marketing, legal, customer service and technical service ...
Richmond Times-Dispatch Lingerfelt CommonWealth Partners has reached an agreement to buy the 405-room Norfolk Waterside Marriott hotel for $35 million, or $86,420/room. The new owner plans to invest up to $20 million in upgrades to the property, at 235 East ...
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