Karl Roulston, Regulus Group partner and co-founder who is also a Shenandoah County supervisor purchased the historic First Bank property in Woodstock, VA. He plans to renovate the building to allow expansion space for Regulus Group. You can read more about it in this article in the Northern Virginia Daily.
Ten years ago this year, the George Washington Hotel in Old Town Winchester, VA reopened after massive renovation and is now on the National Register of Historic Places. After opening in 1924 in hosted many celebrities including Lucille Ball and Ed Sullivan among others. However, it fell into decline in the 1970s. Read more about the rebirth of this Historic Hotel in this article from the Winchester Star.
The Strasburg, VA Town Council will vote on whether it will allow a developer to build ground-floor apartments on several properties in Strasburg's downtown district. Read more about this potential change in this article from the Northern Virginia Daily.
The Frederick County Economic Development Authority recently held a meeting to discuss the challenges developers face for zoning application approval. One of the main concerns raised was the need for better coordination with the Virginia Department of Transportation (VDOT). More information about this meeting can be found in this article in the Winchester Star.
As part of an ongoing representation of BB&T in the region, Oakcrest Commercial Real Estate represented BB&T in sale of their building in Old Town Winchester Virginia. The property was sold for $2.7 million dollars with the transaction closing December 22, 2017. You can read more about the sale in this article from the Winchester Star. This sale is part of a growing trend in the banking industry of closing branches as technology improves making them less necessary. A recent article in Costar sheds light on this trend.
Toys R Us Closing up to 182 Stores but the Winchester Virginia location in safe for now. Read about the closures in this article from CoStar.
The Front Royal-Warren County Economic Development Authority approved the purchase of two parcels of land for $8.3 million this past Friday. To read more about this purchase and other recent economic news in Front Royal and Warren County, read this article from the Northern Virginia Daily