September 28, 2020

The Breeden Company Listed Among Major Commercial Real Estate Firms in Virginia - Hampton Roads Business

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Commercial real estate moves forward in pandemic


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.

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About The Breeden Company

Nationally recognized, with over 60 years of expertise in every facet of the industry, The Breeden Company is a vertically integrated real estate development organization that boasts market-leading divisions including commercial real estate, multifamily property management and construction. With a portfolio of over 20,000 apartments and 2 million square feet of retail and office space that have been owned, managed and developed, The Breeden Company is one of the premier real estate development firms in the nation. Breeden Realty is one of the top commercial real estate firms in Virginia (Virginia Business, 2021); Breeden Property Management is one of the top multifamily property management firms in the country (Multi-Housing News, 2021); Breeden Construction, the much-acclaimed multifamily general contractor for numerous third-party clients, is one of the top multifamily builders in the country (Multi-Housing News, 2020).
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Christine Gustafson
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(757) 486-1000