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Va. Beach shopping center sells for $5.9M
The Indian River Shopping Center in Virginia Beach has been sold for $5.9 million, Cushman & Wakefield | Thalhimer announced Wednesday. JFS Real Estate LLC purchased the 89,189-square-foot shopping center from Indian River Shopping Center Land LLC as an investment. The shopping center, which includes a Food Lion and Burlington, is located at 880 S. […]
DroneUp taps former NFL exec as board chair
Virginia Beach-based DroneUp LLC announced Tuesday that former NFL executive Eric Grubman is the company’s new board chairman. “Eric is incredibly respected across many business sectors for his tremendous vision, insight and passion for technology,” DroneUp CEO and founder Tom Walker said in a statement. “We are truly fortunate to have him as our chairman […]
Va. Beach launches small biz loan program
The Virginia Beach Small Business Capital Access Program is offering loans of $15,000 to $25,000 to small businesses, with no payments required for the first six months. The program, which is a collaboration between the Virginia Beach Economic Development Department and the Local Initiatives Support Corp. (LISC) of Hampton Roads, provides $400,000 in zero-interest loans […]
Va. Beach industrial building sells for $6.79M
An industrial building in Virginia Beach has sold for $6.79 million, Cushman & Wakefield | Thalhimer reported. The 69,120-square-foot industrial building is located on 3.93 acres at 5740 Bayside Road, near Norfolk International Airport in the Airport Industrial Park. It was built in 1975 and renovated in 2015 and has six loading docks. 5740 Bayside […]
The Visionary
The online version of this article includes additional material from Virginia Business’ interview with Pharrell Williams. Pharrell Williams is a 13-time Grammy winner, an Oscar nominee, a fashion designer, a film producer, a music superstar and innovator. He’s also a native Virginian — a point that comes across strongly when he discusses his business ventures […]
Hilb Group founder to lead acquisitions for Virginia Beach firm
Robert “Bob” Hilb will lead mergers and acquisitions at Virginia Beach-based insurance agency Choice Financial Group and continue to serve as a senior adviser and board member, the company announced Wednesday. “Bob’s experience and knowledge assisted my agency in achieving 700% growth from 2018 to 2021,” Richard Braun, Choice president and founder, said in a […]
Ore. vacation rental company buys two Va. Beach businesses
Portland, Oregon-based vacation rental management company Vacasa announced Monday it had acquired two Virginia Beach companies: Sandbridge Realty and Beach Pros Realty. Vacasa did not disclose financial details of the transactions. The acquisitions mark Vacasa’s entry into Virginia. “Virginia Beach is a highly sought-after East Coast vacation spot. …The homes managed by Sandbridge Realty[...]
Breeden Co. names new president and CEO
More than 60 years after Ramon W. Breeden Jr. founded his Virginia Beach-based real estate development company, The Breeden Co. has new leadership. Chief Operating Officer Timothy Faulkner has been promoted as the company’s next president and CEO, after more than 20 years with the Virginia Beach-based company, and Breeden, who founded the company in […]
Va. Beach vacation company acquired by Calif. company
Mill Valley, California-based Vacatia Inc. has acquired Virginia Beach-based hospitality and vacation ownership company VSA Resorts, the timeshare owner and property management services provider announced Jan. 3. Financial details of the transaction were not disclosed. VSA owns three Virginia Beach properties: Ocean Key Resort, Atrium Resort and Ocean Sands Resort. The company also manages wholly-[...]
Youngkin announces transportation secretary
Gov.-elect Glenn Youngkin announced Friday W. Sheppard “Shep” Miller III, former chairman of Virginia Beach-based defense contractor KITCO Fiber Optics, as his state secretary of transportation. “Shep will be an invaluable leader as secretary of transportation as we fulfill our promises to all Virginians to invest in roads, highways and transportation infrastructure in every corner […[...]
Franklin Johnston Group plans Va. Beach apartments
The Franklin Johnston Group, based in Virginia Beach, has purchased a 37,500-square-foot industrial building in Virginia Beach with plans to redevelop it into apartments. The building, which sits on 9.44 acres at 925 S. Military Highway, was sold by Wildwood Park LLC for $4.75 million. Robert M. Thornton of Cushman & Wakefield | Thalhimer represented […]
Va. Beach office building sells for $4.25M
A Virginia Beach office building has sold for $4.25 million to Sharanya Ventures LLC, Cushman & Wakefield | Thalhimer announced Monday. Located at 3704 Pacific Ave., at the Oceanfront, the 11,967-square-foot building, which is 100% leased, was sold by York Street Suites Inc. The three-story building was built in 2003 and sits on about half […]
