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11-building office portfolio in Henrico sells for $87M
An 11-building office portfolio in Henrico County sold for $87 million, according to Henrico County property records. A partnership between New York-based Jack Sitt Real Estate LLC and Dubai, United Arab Emirates-based Gulf Islamic Investments LLC bought the portfolio on Dec. 1. Thalhimer did not disclose the seller. The properties are owned by various limited […]
Altria can’t sell IQOS device in U.S. after ITC ruling stands
Henrico County-based Altria Group Inc. and former subsidiary New York-based Philip Morris International Inc. can no longer sell the IQOS tobacco heating device in the U.S. after the Biden administration’s 60-day administrative review process concluded Monday. On Sept. 29, the U.S. International Trade Commission determined that the IQOS device violated two of rival R.J. Reynolds […]
Henrico engineering firm acquires second Hampton Roads firm
Henrico County-based regional engineering firm Koontz Bryant Johnson Williams Inc. (KBJW) purchased Virginia Beach-based civil engineering firm Blakeway Corp., it announced Tuesday. Financial details of the transaction were not disclosed. The Blakeway acquisition is the firm’s second in six months, following its June purchase of Chesapeake-based Horton & Dodd PC. “Blakeway is a natural[...]
Henrico County retail property sells for $31M
A Baltimore-based real estate developer has purchased The Row at GreenGate, a retail property in the Short Pump area of Henrico County, for $31 million, Colliers International announced Thursday. The 100,000-square-foot property at 12151 W. Broad St. was bought by DK Greengate LLC, an entity connected to Klein Enterprises, which increases its holdings in Virginia […]
Mondelez to create 80 jobs with $122.5M Henrico expansion
Chicago-based snack company Mondelez International Inc. will invest $122.5 million over three years to expand its bakery and build a sales fulfillment center in Henrico County, creating about 80 jobs, Gov. Ralph Northam announced Thursday. “Mondelez International’s long-term investment in Central Virginia is a testament to the region’s top-notch talent and strong business climate,”[...]
Henrico expands development incentive program, amends tax credits
Henrico County announced this week it is creating a redevelopment incentive program for parts of the county that are in need of renovation. Henrico Investment Program was unanimously approved by the county board Tuesday, and the program is expected to launch in January. Incentives for development and reinvestment will be available for projects along parts […]
Henrico’s Essex Bank to lay off 51 employees in merger
The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them […]
Altria names two new board members
Henrico County-based Altria Group Inc. announced the elections of two board members Wednesday and its third quarter earnings Thursday. Marjorie M. Connelly and R. Matt Davis joined Altria’s board of directors. “Both Marge and Matt bring a tremendous amount of senior-level public company experience,” Altria Board Chair Kathryn McQuade said in a statement. “I believe […]
Henrico green-lights $2.3B GreenCity project
The Henrico County Board of Supervisors this week unanimously approved rezoning the 204-acre former Best Products headquarters campus into the $2.3 billion GreenCity project, a major mixed-used development that will feature a 17,000-seat arena. GreenCity, which was proposed in December 2020, is also expected to include two hotels with 600 rooms, about 2.2 million square […]
Insurance startup to create 70 jobs with Henrico HQ
Startup specialty property and casualty insurance holding company Richmond National Insurance Co. (RNIC) will create about 70 jobs over the next three years as it establishes its headquarters in Henrico County, Gov. Ralph Northam announced Friday. “The commonwealth is always looking to create an environment that supports startups and businesses of all sizes,” Northam said […]
Henrico realty co. gains majority ownership of Ga. management company
Henrico County-based property development company McCann Realty Partners LLC now has a controlling interest in Georgia-based property management company Pegasus Residential LLC, the company announced last week. Financial details of the transaction were not disclosed. The two companies have been partners since Pegasus’ founding in 2009, McCann Realty Partners President and Managing Principal [...]
Genworth completes IPO for mortgage insurance subsidiary
Henrico County-based Fortune 500 insurer Genworth Financial Inc. completed the once-delayed initial public offering of its mortgage insurance subsidiary, Raleigh, North Carolina-based Enact Holdings Inc., it announced Monday. Between the IPO and a private sale of shares, Genworth received aggregate net proceeds of about $535 million after underwriters’ fees but before other expenses. Genwort[...]
