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Capital One, Walmart end credit card agreement
McLean-based Capital One Financial is no longer the exclusive issuer of Walmart consumer credit cards. The two Fortune Global 500 companies announced Friday that they had ended their consumer card agreement. The announcement follows problems first uncovered in late 2022 and early 2023, according to Reuters reporting. Capital One became the exclusive issuer of Walmart’s […]
Fed’s Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released April 17. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions […]
Chesapeake strip mall goes for $3.15M
A 7,800-square-foot retail strip center in Chesapeake sold for $3.15 million, according to a March news release from S.L. Nusbaum Realty. Located at 1508 Sam’s Circle, Battlefield Shops has five tenants. It is shadow anchored by Walmart, Sam’s Club, At Home and Dollar Tree stores. Battlefield Freedom Wash sold the property to Grit Andrew LLC. […]
Fed’s Fifth District economy stays the course
Economic activity in the Federal Reserve’s Fifth District was little changed in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released March 6. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered from the nation’s 12 Federal Reserve Banks. It is compiled from […]
Small biz pilot program to aid Phoebus retailers
Five small retailers in Hampton’s Phoebus downtown historic district will receive micro grants and nearly a year of free professional guidance, thanks to funding from a state grant awarded to The Retail Alliance, a nonprofit trade association in Norfolk. The Retail Alliance and the Phoebus Partnership, a nonprofit organization bolstering area small businesses, won the […]
Three Norfolk retail buildings sell for $3.3M
Three retail buildings on a portion of a site used for commercial auto sales and service in Norfolk sold for $3.3 million on Dec. 22, 2023. Michael Sifen Inc. purchased an approximately 5.39-acre portion of 7520 N. Military Highway from Freedom Industrial. The site includes a roughly 30,188-square-foot building, a two-story, roughly 3,030-square-foot building, and […]
Virginia Beach retail building sells for $5.5M
A retail building in Virginia Beach sold for $5.5 million on Dec. 18, 2023. Located at 5169 Virginia Beach Blvd., the freestanding retail building is 59,162 square feet, and the plot of land is almost 136,999 square feet, according to city property records. The current tenant is a Havertys Furniture store. 5169 VB BLVD LLC […]
Arko names new CFO
Arko has named Robert E. Giammatteo as its chief financial officer and executive vice president, according to a Thursday announcement from the Henrico County-based Fortune 500 company that is one of the nation’s largest convenience store operators and fuel wholesalers. Giammatteo will start his new role on Jan. 2, 2024. He will also serve as […]
Nation’s first Goodwill-owned supermarket to open in NW Roanoke
Roanoke-based Goodwill Industries of the Valleys broke ground Nov. 14 on Melrose Plaza, a community hub that will be anchored by the nation’s first full-scale, full-service grocery store owned and operated by a Goodwill organization. Slated to open in December 2024 in a Northwest Roanoke food desert, the 25,000-square-foot Market on Melrose is expected to […]
Trader Interactive CEO Lori Stacy to retire
Trader Interactive CEO Lori Stacy will retire Dec. 14 and Chief Operating Officer David McMinn will succeed her in leading the Virginia Beach-based online marketplace for boats, recreational vehicles, motorcycles and other niche vehicles. Stacy, who has served as CEO since 2017, will take on the new position of chair of Trader Interactive’s board after […]
Travis Hill to step down as Va. ABC’s CEO
Travis Hill, CEO of the Virginia Alcoholic Beverage Control Authority, announced Thursday he plans to step down from his post at the ABC, where he’s worked since 2014. Hired nine years ago as the Virginia ABC’s chief operating officer, Hill became CEO in 2018 after managing the former state department’s transition to a semi-independent authority […]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathered [&hell[...]
