The Breeden Company Listed Among Major Commercial Real Estate Firms in Virginia - Hampton Roads Business
Commercial real estate moves forward in pandemic
PUBLISHED SEPTEMBER 28, 2020
The pandemic hasn’t seemingly slowed down commercial real estate development and transactions in Hampton Roads.
Despite significant financial hits to the hospitality industry, the $125 million, 305-room Marriott Virginia Beach Oceanfront opened in June, the second phase of Gold Key | PHR’s three-phase, $350 million renovation and expansion of The Cavalier Resort.
Also in June, Suffolk-based TowneBank and Children’s Hospital of the King’s Daughters (CHKD) jointly purchased for $30 million the 22-story Norfolk Southern Tower in downtown Norfolk from the Fortune 500 railroad corporation, which is in the process of migrating its corporate headquarters to Atlanta.
In the health care industry, Norfolk-based Sentara Healthcare opened the $93.5 million, 253,000-square-foot Sentara Brock Cancer Center, a patient treatment and care facility in Norfolk, in June.
In Suffolk, Bon Secours is planning a $115.7 million, 67,000-square-foot expansion of the Bon Secours Health Center at Harbour View, for which it filed a certificate of public need in July.
On the horizon are two proposed casinos: the $300 million, 400,000-square-foot Rivers Casino Portsmouth and the Pamunkey Indian Tribe’s $500 million resort in Norfolk, both of which must be approved by local voters in November to move forward.
The Breeden Company is a nationally recognized real estate services company with over 50 years of expertise in every facet of the industry. Breeden Property Management, Breeden Realty and Breeden Construction are the three major subsidiaries of The Breeden Company, with a combined portfolio of nearly 10,000 apartments, over 2 million square feet of retail and office space and an additional 1,700 residential homes. Both Breeden Property Management and Breeden Construction are national award winners on their own merit and provide third party services to select clients. Family-owned and operated since 1961, The Breeden Company has grown into one of the most valued real estate development firms on the East Coast.