Commercial real estate roundup, 7/26/10

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Print this page by Paula C. Squires

TowneBank opens a new financial center in Suffolk while construction continues on several grocery stores across Virginia. This and other real estate/development news from around the state:

SUFFOLK — TowneBank celebrated the opening of its 30,000-square-foot Harbour View Financial Center Friday. The project includes 5,000 square feet for the bank, a Prudential Towne Realty office, Towne Investment Group as well as the offices of law firm Oast & Hook P.C. TowneBank had operated a branch in Suffolk and decided to expand operations there. The center, designed by HBA Architecture and Pilato & Counts Interior Design, is one of TowneBank’s 18 branches in the Hampton Roads region.

RICHMOND/FREDERICKSBURG — New grocery stores are going up in these two markets. Just completed is an 86,750-square-foot Kroger near Short Pump in Henrico County. Currently under construction is a 153,000-square-foot Costco in Chesterfield County and an Aldi grocery store in Stafford County. The 17,700-square-foot Aldi is part of Berea Marketplace, a five-acre shopping center across from Geico on U.S. 17. 

RICHMOND — Apple REIT Nine, Inc. has entered into a contract to buy a new Hilton Garden Inn hotel in Silver Spring, Md. The purchase price for the hotel, currently under construction, is $17.5 million.

ARLINGTON — EADS North America signed a lease for 39,000 square feet of space at Commonwealth Tower. The deal expands the aerospace and defense company’s presence in Northern Virginia. EADS already has an office a short distance away in Rosslyn. The new office will house 65 workers. Tishman Speyer represented the landlord while Jones Lang LaSalle represented EADS.


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