Industries Commercial Real Estate

Franklin Johnston Group buys 15-acre tract in Virginia Beach for $6.5 million

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The Franklin Johnston Group, a multifamily management and development company based in Virginia Beach, has purchased nearly 15.7 acres of land at 2637 Princess Anne Road in Virginia Beach from First Lynnhaven Baptist Church for $6.5 million. 

The Church retained 4 acres for future development.

Brian C. Baker and John Katsias of The Katsias Co. represented the seller and Bill Overman and John Wessling of S.L. Nusbaum Realty Co. represented the buyer in this transaction.

In another sales transaction for S. L. Nusbaum,  Wythe Holdings I LLC purchased a 13,412- square-foot retail building located on Richmond Road in Williamsburg from E.W. Crawford Jr. and Clinton O. Crawford  Jr. for $1.4 million. Michael Myers handled the transaction.

The deals were part of $23.3 million in sales and lease volume on 103,630 square feet of commercial property and 35.6 acres of land for S.L. Nusbaum Realty Co. for the month of June.

NOTE: This article has been corrected from an earlier version. 




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