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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 […]
Carvana proceeds with $25M Chesterfield facility
After putting its plans in neutral, online used car retailer Carvana announced Tuesday that it plans to break ground this quarter on a $25 million, 191,000-square-foot vehicle inspection and reconditioning facility in Chesterfield County. The project could bring more than 400 jobs to the county, economic development officials said in the announcement. Carvana first announced […]
CarMax to acquire remaining stake in Edmunds
Goochland County-based used car giant CarMax Inc. announced Thursday that it had signed an agreement for full ownership of vehicle research website Edmunds.com Inc. in a cash and stock deal. In January 2020, CarMax invested $50 million to acquire a minority stake in Santa Monica, California-based Edmunds. CarMax, a Fortune 500 company, will acquire the […]
Eight over 80
What keeps a person working at an age when most of us are happy to let others take care of business? These overachieving Virginians, all over age 80, have remained hard at work mostly for one or more of three reasons. The first is being able to continue work with family. Retirement is rarely mandatory […]
Volkswagen Group of America pulls ‘shocking’ April Fools’ prank
Calling it a “public declaration” of its priority on electric vehicles, Herndon-based Volkswagen Group of America Inc. unveiled a new company name, Voltswagen of America, accompanied by new branding, in a news release Tuesday. There was just one problem — the U.S. sales arm of the German automaker confirmed to news outlets Tuesday evening that […]
Richmond convenience store operator to acquire 61 locations in Mich., Ohio
Richmond-based convenience stores owner and operator GPM Investments LLC announced Monday it has signed an agreement to acquire 61 ExpressStop convenience stores with gas stations in Michigan and Ohio. Financial terms of the transaction were not disclosed. The acquisition will add to GPM’s existing 165 stores in Michigan and nine in Ohio. GPM Investments is […]
Va. Beach-based company to acquire pet supply chain for $700M
Virginia Beach-based franchise business operator Franchise Group Inc. announced Monday it will acquire Livonia, Michigan-based Pet Supplies Plus for approximately $700 million. The all-cash transaction is expected to close in March. The Pet Supplies Plus retail chain was founded in 1988 and sells pet supplies and services at its more than 500 locations, almost 60% […]
At 10-year mark, CarLotz goes public
Nearing its 10-year anniversary, CarLotz, a used-cars consignment company founded in Chesterfield County, went public on Friday. In October 2020, CarLotz first announced it would merge with special purpose acquisition company Miami-based Acamar Partners Acquisition Corp. — a deal that was approved by stockholders Jan. 8 and closed Friday. The company, which is valued at […]
