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Norfolk eyes $18M purchase of MacArthur Center mall
Read update: Norfolk City Council votes to buy mall Norfolk City Council will discuss acquiring the struggling downtown MacArthur Center mall for $18 million during a special meeting Wednesday. MacArthur Center is owned by Wells Fargo & Co., which holds the mall following a loan default by the mall’s previous owner, Connecticut-based Starwood Property Trust. […]
Amazon begins HQ2 move-in
Amazon.com Inc. is moving more than 8,000 employees into the first phase of HQ2, its $2.5 billion East Coast headquarters in Arlington’s emerging National Landing area, this week. The e-tailer plans to officially open HQ2’s first phase, Metropolitan Park (Met Park), in June and to complete its move-in by the end of the summer. However, […]
Two retail, office buildings in Chesapeake sell for $3.1M
Two buildings with retail and coworking spaces on South Military Highway in Chesapeake have sold for $3.1 million, Cushman & Wakefield | Thalhimer announced Monday. The 38,800-square-foot and 10,000-square-foot buildings sit on 4.7 acres at 2211 S. Military Highway. The property’s 31 tenants include Amazon.com Inc., FedEx Corp., U-Haul and Laundry Land. Advisory Investments LLC […]
Charlottesville car dealerships acquired
Flow Automotive Cos. has completed its acquisition of five Umansky Automotive Group dealerships in Charlottesville, the company announced April 18. Terms of the deal were not disclosed. Flow’s acquisition includes locations selling Honda, Toyota, Subaru, Mercedes-Benz, Chrysler, Dodge, Jeep and Ram automotive brands, according to a news release. Flow currently has dealerships representing Au[...]
Rain and wind delay Something in the Water’s start
Rain and high winds delayed the start of Pharrell Williams’ Virginia Beach music festival Something in the Water by about four hours Friday, leaving fans and businesses waiting for the weather to clear. Scheduled to start at 12:30 p.m. Friday, the festival was delayed until 5 p.m. Instead of being filled with throngs of music […]
Old Town Business league to upgrade or dissolve
Carla Clarke credits Old Town Business (OTB) league with arranging events that bring new faces into Today’s Cargo, the jewelry and gift shop she co-owns on Alexandria’s King Street. “It’s bringing new people through your door,” says Clarke. The 40-year-old nonprofit business league champions Old Town’s business community through events like an annual cookie crawl. […]
Fed Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has contracted slightly since March, 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 [...]
Retail/office collection in Richmond sells for $6.3M
A combined 15,994 square feet of retail and office buildings in Richmond’s West End area sold for $6.3 million in late March, according to Cushman & Wakefield | Thalhimer. The buildings are located at the corner of Grove and Granite avenues, at addresses 5701-5707 Grove Ave. and 124 Granite Ave. About half of the buildings […]
Chesapeake Walmart to reopen after deadly shootings
Walmart Inc. announced Monday that the Chesapeake store where a night manager killed six workers in November 2022 will reopen April 19, following a 9 a.m. ceremony. The store has been remodeled over the past five months, and it will include an outdoor memorial space, according to Walmart. On Nov. 22, 2022, 31-year-old Andre Bing, […]
Coffee biz buys Newport News building for $1.1M
A coffee company purchased a 2,400-square-foot retail building in Newport News for $1.1 million with plans to turn it into a coffee shop. Seven Cities Coffee LLC, doing business as 7 Brew, purchased the building located at 398 Denbigh Blvd. from JMP Properties LLC, Cushman & Wakefield | Thalhimer announced. The coffee company, 7 Brew, […]
Arko tries to keep $1.4B TravelCenters of America bid alive
Updated 5:30 p.m. March 28 Henrico County-based Fortune 500 convenience store holding company Arko Corp. is rivaling British oil and gas giant BP in a $1.4 billion bid to acquire Westlake, Ohio-based TravelCenters of America Inc., a publicly traded convenience store chain with 281 retail stores and roadside restaurants in 44 states. On Monday, Arko […]
Chesterfield County kicks off $210M mixed-use project
Chesterfield County officials began demolition Tuesday of the former Best Products Co. Inc. building in the Spring Rock Green shopping center to clear the way for the $210 million first phase of the Springline at District 60 mixed-use development. The 42-acre first phase of the project, located on Midlothian Turnpike off Chippenham Parkway, includes a […]
