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High Street Land Development Sells for $875,000

RICHMOND, Va, May 19, 2022 – Colliers is pleased to announce the sale of the High Street Land Development located in Petersburg, VA for $875,000.

 

Thalhimer Realty Partners purchased the land to develop 78 units across two phases. The initial phase will consist of 14 duplexes and will include 2-3 bedroom units with rooftop decks. Construction for the first phase is expected to commence in 2023. A second phase of development will include a 3-to-4 story building with 50 units of 1-2 bedrooms.

 

The land encompasses 4.219 Acres and is located in the historic district of Petersburg, minutes away from key transportation hubs such as I-95 and I-85.

 

Garrison Gore, Charles Wentworth, Hank Hankins, and Victoria Pickett represented the seller, Monroe Properties.

 

Media Contact:

Jullieanne Cueto

Communications Specialist, Virginia and Raleigh, Nc

Jullieanne.cueto@colliers.com

804-968-1970


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George Hankins

Executive Vice President

Norfolk - Main

George Hankins (Hank) is a Senior Vice President of Investment Properties, specializing in the execution of multifamily property sales throughout the Hampton Roads metropolitan area. Hank is an integral part of the underwriting, marketing and sales process for multifamily properties and promotes Colliers' platform in the Southeastern region of Virginia. 

During his career, Hankins has been involved in more than $1 billion in multifamily sales throughout the Hampton Roads and Richmond markets. In addition to dispositions, Hankins has also held the role as principal partner for Croatan Investments, leading their acquisitions team as it closed $125 million in multifamily property transactions in Virginia and North Carolina in a two-year period.

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