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350-unit apartment complex coming to Richmond’s Scott’s Addition
A 350-unit mixed-use apartment building is coming to Richmond’s Scott’s Addition neighborhood by late 2022 or early 2023, Glen Allen-based real estate investment company Capital Square and Charleston, South Carolina-based real estate developer Greystar announced Thursday. Capital Square and Greystar purchased 2.28 acres of land in Scott’s Addition for $8.6 million that will be us[...]
CarLotz nominates four to board of directors
Chesterfield County-based CarLotz Inc., a consignment dealer of used cars, announced Thursday it has nominated four new members to its board of directors, effective following the closing of its merger with special purpose acquisition company Acamar Partners Acquisition Corp. CarLotz, which is valued at $827 million, will combine with Miami-based Acamar Partners Acquisition Corp. to […]
3Pillar acquires Ariz.-based software company
Fairfax-based product lifecycle management company 3Pillar Global Inc. announced Tuesday it has acquired Tempe, Arizona-based software development company Tiempo Development. Financial terms of the transaction were not disclosed. Tiempo Development, which employs more than 400 people, also has three digital delivery centers in Mexico, which will expand 3Pillar’s footprint and offerings o[...]
FDA authorizes sale of Altria’s IQOS 3 device
The third generation of Altria Group Inc.’s IQOS tobacco heating system device has been authorized for sale in the United States by the U.S. Food and Drug Administration, the Henrico County-based company announced Monday. After receiving an application from Philip Morris International, the FDA ruled that IQOS 3 can be sold to adults in the […]
Judge cancels Fairfax County gun show due to COVID risk
A large gun show scheduled this weekend at the Dulles Expo Center that could have drawn an estimated crowd of 25,000 people will not take place, a Fairfax County circuit court judge ruled Thursday morning. The Nation’s Gun Show was scheduled for Nov. 20-22, and the gun show’s promoter, Showmasters Inc., along with a firearm […]
What a legalized marijuana market could look like for Va.
If Virginia legalizes marijuana, sales could generate up to $300 million in annual state tax revenue and create 11,000 jobs, according to a Joint Legislative Audit & Review Commission (JLARC) report issued Monday. But legalizing the drug would not be without hurdles. While the marijuana use was decriminalized in Virginia this year and the state’s […]
Chesapeake Family Dollar property sells for $1.78M
A Family Dollar store property in Chesapeake sold for $1.78 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. Located at 3736 Ahoy Drive, the 8,320-square-foot retail property was net leased to Family Dollar. TRC Chesapeake sold the property, which it bought in July 2019, according to Chesapeake property records. SMI Investment II […]
CarLotz names chief commercial officer, general counsel
Chesterfield County-based CarLotz Inc., a consignment dealer of used cars, announced Tuesday it has hired Becca Polak as the company’s inaugural chief commercial officer and general counsel, effective Oct. 30. Polak joins CarLotz — which in late October announced plans to go public and expand nationwide — from Carmel, Indiana-based KAR Global, a company that […]
CarLotz plans to go public on Nasdaq
Chesterfield County-based CarLotz Inc., a consignment dealer of used cars, announced Thursday it plans to go public and expand nationwide. CarLotz, which is valued at $827 million, will combine with Miami-based Acamar Partners Acquisition Corp., a publicly traded special purpose acquisition company, to make it a public company. At closing, the company name will remain […]
ABC reports record $1.2B in FY 2020 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) broke its gross revenue record again during fiscal year 2020, reporting $1.2 billion in gross revenue, the ABC announced Wednesday. Last year, the state agency surpassed $1 billion in revenue for the first time. ABC’s profits of $545.3 million (an increase of $45.8 million over last year) will […]
Ikea, state pledge $4M for eviction legal assistance
Gov. Ralph Northam announced a $4 million fund Monday that will support 20 Legal Aid attorneys in defending Virginia tenants facing eviction over the next two years. The Ikea U.S. Community Foundation pledged $2 million, based on the unemployment funds its retail workers in Virginia received earlier in the year, and the state’s COVID-19 Relief […]
Retail | Wholesale
ROBERT A. ‘BOB’ ARCHER CHAIRMAN AND CEO, BLUE RIDGE BEVERAGE CO., SALEM Robert Archer runs the wholesale beverage retailer his parents bought in 1959 after moving to Salem. When his father, James Archer, died in 1972, his mother, Regine Archer, became president and forged ahead on decades of growth and acquisitions. Blue Ridge distributes a […]
