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The color of money
A dusty floor, lumber piles and strewn tools mark the signs of active construction in the future showroom of Pure Shenandoah LLC. CEO Tanner Johnson stands in the front room of the historic, renovated Casey Jones building in Elkton and describes the experience of a future customer. “You’ll come in right here to a cool […]
Fed says Fifth District economy sees moderate growth
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered from the 12 Federal Reserve […]
Retail | Wholesale
MICHAEL AKROP CEO, LEESA SLEEP LLC, VIRGINIA BEACH Akrop, who was Leesa Sleep’s president and chief operating officer, earned a promotion in January, becoming the online mattress retailer‘s CEO. He has an extensive background in digital startups, having logged nearly a decade at Zappos, the online shoe retailer, and then two years at Vroom, a […]
Suffolk retail property sells for $4.5M
A Suffolk retail property leased to Goodwill of Central and Coastal Virginia sold for $4.5 million, Cushman & Wakefield | Thalhimer announced Thursday. Located at 2901 Godwin Blvd., the single tenant, net-leased property is 15,477 square feet. Stablewood Properties LLC purchased the property from Good Partners LLC. Clark Simpson and Chris Rouzie with Thalhimer handled […]
Virginia ABC reports $1.4B in FY 2021 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) reported $1.4 billion in gross revenue for fiscal year 2021, up $163 million over the previous fiscal year. It’s the third year in a row the state authority has surpassed $1 billion. As a division of state government, ABC sends its profits — $616.4 million — to the […]
Harbour View Shoppes property sells for $6.8M
Harbour View Shoppes in Suffolk sold for $6.8 million, Cushman & Wakefield | Thalhimer Capital Markets Group announced Wednesday. The fully leased retail center, located at 5883-5889 Harbour View Blvd., is anchored by Verizon and Starbucks Corp. stores. It sits on 2.63 acres near Interstate 664. A family trust based in North Carolina purchased the […]
Fed says Fifth District economy growing moderately
[wpdiscuz-feedback id=”z7qx6rb9ba” question=”Why?” opened=”0″]Amid the post-pandemic recovery[/wpdiscuz-feedback], the Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been seeing moderate economic growth in recent weeks, according to the latest edition of the Federal Reserve’s Beig[...]
Retail property sold for $1.29M in Chesterfield
A 10,000-square-foot retail building in Chesterfield County was sold for $1.29 million as an investment, Cushman & Wakefield | Thalhimer announced last week. YIASOU III LLC purchased the building at 10747 Midlothian Turnpike, which is leased by RVA Athletes and Sofa Design, from RDKMT LLC. Graham Stoneburner and R. Scott Douglas of Cushman & Wakefield […]
CarLotz expanding HQ in Richmond, adding 192 jobs
CarLotz, the nation’s largest consignment-to-retail used vehicle business, plans to expand its headquarters in the city of Richmond, creating 192 jobs, Gov. Ralph Northam announced Friday. To accommodate recent growth, the company will relocate from the city’s Manchester neighborhood to Scott’s Addition. CarLotz was founded 10 years ago in Richmond and went public in 2020 [&helli[...]
Checkered Flag Auto Group acquires Newport News dealership
Virginia Beach-based Checkered Flag Auto Group announced Tuesday that it has purchased the Pomoco Chrysler, Dodge, Jeep, Ram, Alfa Romeo and Fiat dealership in Newport News. The acquisition is the company’s first dealership on the peninsula and its first to include U.S. automotive brands. Checkered Flag Auto Group consists of 10 other dealerships in the […]
Dollar Tree launches digital media network
Chesapeake-based Fortune 500 discount retailer Dollar Tree has launched a digital media arm that aims to connect advertisers with potential customers via its Family Dollar retail brand, it announced today. Dollar Tree says its new venture, the Chesapeake Media Group, will offer services that help companies place ads on Family Dollar’s website and mobile app […]
Commercial real estate leasing roundup
Central Virginia – Weyerhaeuser Co. renewed its lease of 72,399 square feet of industrial space at Sarellen Road Warehouse, 4200-4222 Sarellen Road, in Henrico County. Evan Magrill and Scott Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord. – Belvac Production Machinery Inc. leased 40,000 square feet of industrial […]
