Significant real estate transactions have recently taken place in Virginia, with both retail and multifamily properties changing hands. Notable sales include two buildings at **Peninsula Town Center** and a multifamily community in Chesapeake.
Colliers facilitated the sale of two retail buildings at **Peninsula Town Center** in Hampton to a North Carolina investment group managed by **Michael Holshouser** and **Nick Gonzalez**. Building G, which spans **62,672 square feet**, is anchored by **PetSmart** and **H&M**, while Building H offers **83,830 square feet** of retail space, featuring tenants like **Buffalo Wild Wings** and **Five Guys**. The transaction was managed by **Jeff Fritz** and **Jay O’Donnell** for the seller, with **Tyler Brooks** acting as leasing adviser.
In another significant transaction, the **Pillars at Great Bridge**, a **192-unit** multifamily community located at **124 Fairwind Drive** in Chesapeake, was sold. Built in **2009**, this property reflects the growing interest in multifamily housing. The seller, **Nuveen**, a global investment management firm, was represented by **Will Mathews**, **Thomas Leachman**, and **William Dickinson**.
In the **Virginia Beach** area, **Selko Real Estate Ventures LLC** acquired a substantial property at **524 Viking Drive** from **Hermes Abrasives** for **$13.45 million**. The building, which encompasses **150,640 square feet**, is situated on **15 acres**. The transaction involved representation by **Geoff Poston** and **Brett Sain** for the buyer.
Harbor Group International has also made headlines with the acquisition of **Reflections at Virginia Beach** for **$86 million**. This multifamily residential community, covering **30 acres**, includes **480** one and two-bedroom apartments across **19 buildings**, originally constructed in **1986**.
Other notable transactions include the sale of **3.39 acres** at **1921 Robert Hall Blvd.** in Chesapeake to **RaceTrac** for **$1.125 million**, represented by **Sam Rapoport** and **Larry Agnew**. Additionally, **Mihaly Contracting LLC** purchased **1.34 acres** at **2553 Squadron Court** in Virginia Beach for **$595,000**, with representation from **Martin Murden**.
Leasing activity has also seen a surge, with several companies expanding their footprints in the region. **Dandy Bros’ LLC** leased **1,200 square feet** of retail space at **910 Great Bridge Blvd.** in Chesapeake, with **Jon Elliott** representing the landlord. Similarly, **Elevate Real Estate Group VA LLC** secured **800 square feet** of office space at **1021 N. Eden Way**, also with **Elliott** representing the tenant.
In a significant industrial deal, **SupplyOne Weyers Cave Inc.** leased **33,385 square feet** at **Bay Warehouses** on **1400 Cavalier Blvd.** in Chesapeake. The lease negotiations were handled by **Brett Sain**, **Christine M. Kaempfe**, and **Geoff Poston** for the landlord.
Overall, these transactions reflect a robust real estate market in Virginia, with a diverse range of properties attracting significant investment. The activity highlights both the demand for retail space and the ongoing appeal of multifamily living in the region.
