“The office market is not ready for new construction, so we’re thinking about ways we can repurpose that land to make sure the Innsbrook community has another amenity,” said Highwoods’s Jane DuFrane.
The site is about half the size of the publicly traded company’s 142-acre campus in Northern Virginia, where five data centers are operational and four more are planned.
“I think getting the buildings demoed will be a real plus for the community,” said local developer Steve Leibovic, adding that demolition is expected to be completed by year’s end.
Currently under construction, the 4,700-square-foot deck will provide outdoor space that was originally planned for The Park, which co-owner Basim Mansour had first envisioned as a rooftop venue.
The 230-unit complex sits about a mile south of Willow Oaks in the city’s Southside. The new owner is Highwater Properties, a Los Angeles-based investment firm with 620 units in its portfolio.
The 1-acre parcel is in a prime location across from Scott’s Addition and sits next door to another of Thalhimer Realty Partners’ buildings.
Florida-based Bainbridge Cos. is over halfway through construction of Bainbridge Midlothian, a 310-unit development filling part of a 26-acre tract between Walmart Way and Old Buckingham Road.
The former high school is being transformed into the Abby on Stuart apartment building, with 39 units renting for around $1,900 for a one-bedroom to $7,300 for a four-bedroom, three-bath, 3,000-square-foot unit.
The VCU Health System Authority now owns the nearly 6-acre assemblage that is adjacent to the 42-acre Athletic Village site, where work has gotten underway in recent weeks.
It’s the second time the retail center has changed hands in the last 18 months. The price tag on the previous sale was for $53 million.
Update your browser to view this website correctly. Update my browser now