Monday, January 24, 2022

Sign up here for our free newsletter that tells you about the newest stories, three mornings each week.

Latest Commercial Real Estate News

Elite Auto Body Inc. Set To Open New Location In Newport News

NEWPORT NEWS—A vacant industrial property located at 529 J. Clyde Morris Blvd. in Newport News was recently sold for $1.2 million. The 21,845-square-foot light manufacturing (M1-Zoned) building is situated on 2.37 acres and was purchased by Haras921B, LLC from...

DMY Engineering Consultants Buys Industrial Buildings In Hampton

HAMPTON-Several industrial buildings in Hampton have been sold. On January 10, it was announced that DMY Engineering Consultants, Inc. purchased three industrial buildings located at 400 and 410 Copeland Dr. and 2101 50th St. in Copeland Industrial Park. DMY Engineering Consultants...

Hampton Roads Not Impacted By Sublet Office Space Availability Created As A Result Of Pandemic

According to a research report spotlight issued by Cushman & Wakefield | Thalhimer—a global commercial real estate services firm—since the second quarter of 2020 when the covid-19 pandemic hit the United States, there has been an increase in office...

Former Dairy Queen On Bypass Road In Williamsburg May Become a Car Rental Business

YORK-On January 12, The York County Planning Commission will hear a proposal to convert a vacant business on Bypass Road that once housed a Dairy Queen into a car rental facility. York received a request for a special use permit...

Newport News City Center Properties Sold for $74 Million

NEWPORT NEWS—Several retail and office spaces in City Center at Oyster Point were recently sold to Murphy Property Group of Florida for $74 million. The sale includes a total of ten Class A properties consisting of 547,466 square feet...

Liberty Commons in Newport News On The Market For $3.25 Million

NEWPORT NEWS—Liberty Commons, an office park located at 12695 McManus Blvd. in Newport News, is up for sale. Liberty Commons consists of seven free standing, direct access office buildings totaling 26,027 rentable square feet. Built in 1989 and periodically...

Newport News City Council Approves Rezoning For indieDwell Facility

NEWPORT NEWS—Newport News City Council recently approved the rezoning of 520 21st St. and 2200 Terminal Ave. from R8 High Density Multiple-Family Dwelling to M1 Light Industrial with proffers. This change allows the property to be developed as an...

Norfolk Seeks Proposals To Redevelop Former Greyhound Site

The City of Norfolk is seeking visionary proposals to transform the former Greyhound bus station located at 701 Monticello Avenue. Proposals should complement the Downtown Norfolk 2030 Plan and existing development projects. Qualified real estate developers are invited to...

Best Western Hotel Sold In Williamsburg

WILLIAMSBURG-The Best Western Historic District hotel on York Street has been sold.The hotel, located at 351 York St., was sold on November 19 for $3.5 million. Swaminarayan, LLC, a regional hotel owner and operator with several properties in Virginia...

Local Leaders Continue To Reimagine The Future Of Fort Monroe

HAMPTON—Fort Monroe leaders are looking for input from local developers on how they can continue to revitalize the property. The Fort Monroe Authority is searching for an adaptive reuse of 13 historic buildings totaling more than 300,000 square feet...

Here Are The Most Recent Lease Transactions From Cushman & Wakefield/Thalhimer

On December 1, Cushman & Wakefield | Thalhimer announced the following lease transactions for the Peninsula: The Fishel Company leased 8,250 square feet of industrial space at 605 and 607 Industry Dr. in Hampton. Atlantic Machinery leased 6,877 square feet of...

Freddy’s Frozen Custard & Steakburgers Is Also Headed To Hampton

HAMPTON-On December 1, Cushman & Wakefield/Thalhimer announced the sale of a 10,748 square foot retail building on Mercury Boulevard that will be redeveloped and utilized as a multi-tenant building with Freddy’s Frozen Custard & Steakburgers as the anchor. Moseley Real...

Latest news

New Mexican Restaurant Slated To Open In Surry This Summer

SURRY-Longtime restaurateur Luis Pedraza hopes to open Morelia Mexican Restaurant on the main drag in Surry by summer 2022. While Pedraza has already purchased the vacant building located at 11487 Rolfe Highway, he's currently awaiting approval from a lender...

New Busch Gardens Roller Coaster Opening March 25

JAMES CITY-Busch Gardens Williamsburg announced the opening date for its latest attraction, the roller coaster Pantheon. The new ride will officially open to the public on March 25, 2022. Those with membership park passes will have the opportunity to...

Two Local School Divisions To Host Job Fairs

WJJC Schools and York County Schools are planning upcoming job fairs to recruit employees. The WJCC School division will host its job fair on Friday, January 28 from 9am to noon at the division’s School Board and Central Office, 117...