Commercial real estate roundup
- August 14, 2009
Some companies like Davies Commercial Masonry of Suffolk are taking advantage of a tenant’s market to trade up to larger space. A look at this transaction and other deals from around the state:
Suffolk — Davies Commercial Masonry, a brick and masonry company, has relocated to a new corporate headquarters in downtown Suffolk. The company hired McEntire Design Architects to help convert a former skating rink into an office. The move consolidated two former locations: a small office and a warehouse.
Newport News — Spectrum, a government contractor in Hampton Roads, has moved from its downtown Hampton location of nine years into new, larger space at Compass Pointe in Newport News. Citing the company’s rapid growth to more than 200 employees, President and CEO Jeff Wasserman said the 20,000 square feet of space at its new address will better meet the company’s needs.
Virginia Beach — Members Trust Credit Union has purchased 1.6 acres of land at Lakeside Corporate Park from Lakeview Land LLC for $1.3 million. Thalhimer, a member of the Cushman & Wakefield Alliance, handled the sale. The site will be a joint development between the credit union and a team consisting of Thalhimer and Mid-Eastern Builders.
Prince William County — R. W. Murray Co., a private general contractor, has received more than $13 million in recent project awards. The projects include tenant renovation improvements for such clients as Comcast in Manassas and special projects for Bode Technology in Lorton and Raytheon in Chantilly.