Commercial real estate roundup
- August 24, 2009
James City County — GS Virginia, a private firm out of Charlotte, N.C., has started construction on Laurel Grove Park. The $2.4 million, two-story, 4,700-square-foot clubhouse — with fitness center, pool and playground — is expected to be ready by Memorial Day 2010. It is one of many amenities planned for Preservation, a 3,700-acre neighborhood under development within Stonehouse in Toano, Va.
McLean — Apptis Inc., a government IT contractor, signed an 8-year, 14,878-square-foot lease at 370 L’Enfant Promenade SW in Washington, D.C. The office in the 10-story building is nearly twice as large as the company’s prior space on School Street. Apptis needed larger quarters after being awarded a $34 million contract from the Federal Aviation Administration.
Fredericksburg — Saxon Shoes has opened a second location. The Richmond-based company — the largest independent shore store in the state — is doing business at The Village at Towne Center in Fredericksburg, at the intersection of Interstate 95 and Route 3. The village is a recently opened addition to Spotsylvania Towne Center, which is undergoing a $100 million transformation. The mall is owned and managed by Cafaro affiliated companies, based in Youngstown, Ohio.
Washington, D. C. — Bob Pinkard, chairman and co-founder of Cassidy & Pinkard Colliers, plans to step down by the end of the year so he can devote his time to real estate investment. The end of his tenure follows nearly three decades of leadership at one of the region’s largest commercial real estate services companies. Pinkard, who plans to stay on the board, began his post as chairman in 2008, after serving as the company’s CEO since 1984. In 2008, Cassidy & Pinkard completed more than $3 billion in commercial sales, finance and leasing transactions and managed over 21 million square feet in commercial office and retail properties.
Newport News — Drucker & Falk has hired Paul Hansen as its director of commercial services. He plans to expand the company’s commercial practice, with a particular focus on institutional clients. Before joining Drucker & Falk, Hansen worked as a vice president for Starmount Co., in Greensboro, N.C., where he managed the acquisition and management of a $45 million portfolio.