Commercial real estate roundup
- January 11, 2010
Colonial Heights — hhgregg, an appliance and electronics retailer, has leased a 32,902-square-foot former Circuit City building in the Southpark shopping area. Thalhimer handled lease negotiations for the landlord and the tenant. This is the seventh Virginia store hhgregg has leased. The company now has two locations in Richmond, two stores in Hampton Roads, space in Fredericksburg at Central Park as well as a new location in Roanoke.
Washington — A $16 million federal construction-management services contract covering the first phase of a new headquarters for the U.S. Department of Homeland Security has been awarded to Tishman-AECOM. The entity is a joint venture of Tishman Construction Corp. of D.C. and Los Angeles-based AECOM Technology Corp. The DHS consolidation is the largest current construction project in the country. All phases, scheduled for completion by 2016, are estimated to come in at $3 billion to $4 billion. The first phase includes a new U. S. Coast Guard headquarters, parking, and a co-generation plant.
Roanoke — Branch Management Corp. has purchased the former Kroger grocery store on Orange Avenue. The 39,980-square-foot building sits on nearly five acres. Branch, which owns and leases commercial properties in Roanoke, plans to redevelop and lease the property. Norfolk-based S. L. Nusbaum Realty Co. represented Kroger in the transaction.
Richmond — Sperry Van Ness in Richmond has changed its name to NetWorks Commercial Real Estate to reflect a focus on advanced technology tools for marketing properties. According to principal broker Jim Tucker, the company will offer 24/7 interactive, client access to real-time updates on property account marketing activities.