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Pain beyond the pump
Ravi Patel watched as gas prices began their upward spiral and responded accordingly. To help offset fuel surcharges for deliveries, Patel, CEO of Sina Hospitality, placed larger orders for the linens, toiletries and other dry good items that his employees need to stock the Richmond-area hotels his company operates. “Kind of like everybody’s stockpile during COVID,” […]
UNIS to add nearly 1M square feet near Port of Virginia
California-based third-party logistics company UNIS LLC plans to open two sites near the Port of Virginia next year, comprising nearly 1 million square feet. Industrial Realty Group LLC, which will construct the buildings, announced the project last week. It includes a 910,000-square-foot high volume, cross dock terminal in Suffolk and a 72,000-square-foot transload facility in […]
Walgreens to establish $34.2M fulfillment center in Hanover
Walgreens will invest $34.2 million to establish a micro-fulfillment center in Hanover County, a project expected to create 249 jobs, Gov. Glenn Youngkin announced Friday. The 65,686-square-foot facility will be located at the 185,000-square-foot Atlee Station Logistics Center and will have automated machinery to allow for a flexible operating model. “The Walgreens micro-fulfillment center in [&[...]
J.B. Hunt to acquire Bassett Furniture subsidiary for $87M
A subsidiary of Lowell, Arkansas-based transportation company J.B. Hunt Transport Services Inc. has entered into a definitive agreement to acquire a subsidiary of Bassett-based home furniture manufacturer and marketer Bassett Furniture Industries Inc. for $87 million, the companies announced Monday. J.B. Hunt Transport Services’ wholly owned subsidiary, J.B. Hunt Transport Inc., will acquire Bas[...]
Sen. Kaine back in D.C. after being stuck on I-95 for 27 hours
This story was updated Jan. 4 at 4:20 p.m. After being stranded with hundreds of other motorists on Interstate 95 for nearly 27 hours, U.S. Sen. Tim Kaine arrived at his office in Washington, D.C., just before 4 p.m. Tuesday, according to CNBC. The 2016 Democratic vice presidential candidate wrote on his Facebook page Tuesday […]
Need for speed
Geoff Poston likens the current market for building, buying and leasing warehouses and distribution centers to the mid-1800s California Gold Rush: Everybody wants in. Poston, vice president of Cushman & Wakefield | Thalhimer’s Hampton Roads industrial group, says demand has never been greater for industrial real estate, creating a tight market with low vacancy. “The […]
Mentorship and management
Brought to you by Virginia Business and Bank of America, in 2021 we hosted a diverse group of six Virginia business leaders for three Diversity Leadership Series events. These virtual fireside chats featured the executives sharing their insights on leadership, their career paths, and diversity and equity. The third installment of our series took place […]
Sterling warehouse sells for $20.8M
Washington, D.C.-based financial technology company Fundrise has purchased a 76,500-square-foot warehouse located at 22480 Randolph Drive in Sterling for $20.8 million, Edge Capital Markets announced Thursday. Edge Capital Markets declined to name the seller. The warehouse is in Broad Run Business Park near the intersection of Randolph Drive and Moran Road, north of Dulles International […]
Performance Food Group to build $80M facility in Hanover
Performance Food Group Co., the Goochland-based Fortune 500 food distribution corporation, plans to invest $80.2 million on a new facility in Hanover County, creating 125 jobs, Gov. Ralph Northam announced Thursday. The regional sales and distribution center will be housed in a 325,000-square-foot building in Ashland. “This new facility will be instrumental in advancing Virginia’s […]
Transportation
ED ALDRIDGE PRESIDENT, CMA CGM AMERICA LLP AND APL NORTH AMERICA, NORFOLK Aldridge took over as president of CMA CGM America in June 2020, and he has served as president of CMA CGM subsidiary North America, the nation’s oldest ocean carrier, since 2017. In February, the French company announced the $36 million expansion of its […]
Reston’s Trucker Tools acquired by Calif. tech firm
Reston-based Trucker Tools, a software company that provides a digital freight management platform for the transportation industry, has been acquired by Walnut Creek, California-based software company ASG. Financial details of the transaction were not disclosed. Founded in 2013, Trucker Tools offers a software suite with capacity management, predictive freight matching, automated booking, real-tim[...]
International logistics company announces $61M Norfolk expansion
Katoen Natie Norfolk Inc., a plastics and polymers warehousing and distribution company, plans to expand its operation in Norfolk, investing $61 million and creating 35 jobs, the governor’s office announced Tuesday. A subsidiary of Belgian logistics service provider Katoen Natie, the Norfolk company was established in 2011 at the former Ford Motor Co. assembly plant […]
