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CRE Intel: The most-read stories of 2012

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From the purchase of Keswick Hall to the opening of Kroger’s first mega store in the mid-Atlantic, CRE Intel covered Virginia’s latest statewide commercial real estate news.

Following are the most-read stories that appeared in CRE Intel:


1) Riverstone Group LLC of Richmond buys Keswick Hall
It’s official. The Riverstone Group LLC of Richmond, a subsidiary of Bill Goodwin’s CCA Industries, has purchased Keswick Hall from Orient-Express Hotels Inc. The deal includes Keswick Club, Keswick Utilities and 39 home sites within the Estates at Keswick Hall, a luxury residential home development near the resort in Albemarle County.

2) Target will open new store in Merrifield in October
Target Corp. plans to open a store in the Merrifield area of Fairfax County in October. The Minneapolis-based retailer said in a press release that it will open 19 stores this year, including a Virginia Beach location also scheduled to open in October.

3) JenCare Neighborhood Medical Centers enters Virginia market with five office locations
A new option in preventative health care for seniors is coming to Virginia. Divaris Real Estate Inc. in Virginia Beach announced Monday the signing of three leases and the purchase of two buildings by JenCare Neighborhood Medical Centers. Three of the offices will be located in Hampton Roads and the other two will open in the Richmond area.

4) Kroger’s first mega store in the mid-Atlantic opens in Chesterfield County
Hoards of Richmond shoppers turned out Wednesday for the opening of the Kroger Co.’s first mega-store in its mid-Atlantic region.

5) Grubb & Ellis files for bankruptcy and will sell most of its assets to BGC Partners
The bankruptcy filing of Grubb & Ellis has caused a local affiliate, Grubb & Ellis| Harrison & Bates, to weigh its options. The firm, located on West Broad Street in Henrico County, is independently owned and operated, and was not surprised by yesterday’s announcement,  Stevens N. Gentil,  Harrison & Bates’ chairman, said in an e-mail to Virginia Business.

6) Northview Hotel Group and partner buy The Sanderling Resort on Outer Banks
CBRE|Hampton Roads said Tuesday that it has completed the sale of The Sanderling Resort & Spa in Duck, N.C. CBRE Hotels represented the seller, Turnpike Properties, in the sale to a partnership of Northview Hotel Group and Five Mile Capital Partners.

7) Historic Richmond skyscraper is being renovated into $30 million apartment project
Richmond’s first skyscraper, the 19-story First National Bank building at 823 E. Main St., is getting a $30 million renovation that will convert the Neoclassical Revival building into apartments.  Work on the tower began in December by the owner, Rushmark Properties, based out of Falls Church. Completion of the 154 units is expected by October. “The timeline is about nine months for completion,” said Peter Barden, senior associate at Commonwealth Architects in Richmond, the architect for the project.

8) Oceanaire Resort & Conference Center in Virginia Beach moves closer to completion
This week marks the topping out of the $32 million Oceanaire Resort & Conference Center, one of Virginia Beach’s newest properties. The private project by Gold Key/PHR of Virginia Beach will add a 191,000-square-foot, 18-story addition in what is Phase III of the existing Ocean Beach Club & Resort located on the city’s oceanfront.

9)The Homestead announces $25 million in new projects
Come July 1, guests at The Homestead will be able to enjoy high tea in the Great Hall or a plunge down a 100-foot water slide. The historic, luxury resort in Bath County announced a $25 million “transformation” Thursday that promises to have many new amenities in place by September, including a new water attraction area scheduled to be ready by the Fourth of July.

10) Potomac Mills to expand with new exterior, restaurants and stores
Potomac Mills, the largest discount outlet shopping destination in Virginia with more than 220 stores, will soon expand with a significant exterior transformation. Plus, the Woodbridge mall is adding a pair of nationally recognized restaurants: The Cheesecake Factory and the state’s first-ever location of Bobby’s Burger Palace, Chef Bobby Flay’s chain of burger restaurants.


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