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Va. Beach shopping center sells for $8.5M
A shopping center near Lynnhaven Mall in Virginia Beach has sold for $8.5 million. The Lynnhaven East and North Mall Shops, at 2701 and 2704 N. Mall Drive, have been sold by Rialto Capital Partners, but the buyer has not been disclosed, according to Colliers. The property has 106,524 square feet and more than 96,000 […]
Stihl Inc. names new president and CEO
Virginia Beach-based chainsaw and outdoor power equipment manufacturer Stihl Inc. has appointed Terrence “Terry” Horan as the company’s president and CEO effective April 1, the company announced in a news release Thursday. Stihl Inc. is the largest subsidiary of the global Stihl Group and employs more than 3,000 U.S. workers. Horan previously worked as RPM […]
Pembroke Mall to get makeover
Hanging out at the mall may soon take on new meaning in Virginia Beach. Within a few years, Pembroke Mall could be home to thousands of apartment dwellers as part of a $200 million makeover of the vintage 54-acre retail property announced in November 2021. “All we’re doing is changing with what the customer desires,” […]
Va. Beach insurance agency taps CFO
Shawn McArdle is Choice Financial Group’s new chief financial officer, the Virginia Beach-based insurance agency announced Wednesday. “Shawn’s ability to provide financial leadership allows Choice’s senior management team to focus on identifying the right partners for the platform,” Choice President Richard Braun said in a statement. “Shawn’s experience wi[...]
Action sports festival coming to Va. Beach
One of Canada’s largest action sporting events, the Jackalope Festival, will make its U.S. debut in Virginia Beach in June 2023, Mayor Bobby Dyer announced Wednesday at the annual State of the City address. “Get ready for Jackalope!” Dyer shouted enthusiastically before a crowd of about 1,000 people gathered at the Virginia Beach Convention Center. […]
Retaining walls
With COVID-19 limiting travel and site visits for companies considering coming to Hampton Roads, economic development officials focused on shoring up existing businesses in 2021. That strategy appears to have paid off, judging by the number of companies expanding throughout the region. “2021 has been a banner year for us,” says Norfolk Economic Development Director […]
Tilting toward windmills
Siemens Gamesa Renewable Energy S.A.’s October 2021 announcement that it will build the nation’s first offshore-wind blade factory at Portsmouth Marine Terminal has put Hampton Roads on a trajectory to become a supply chain hub for the country’s nascent offshore wind energy industry. The Spanish wind turbine company is investing $200 million to build the […]
Virginia Beach medical building sells for $21M
A medical office building in Virginia Beach sold for $21 million, Nashville, Tennessee-based buyer Montecito Medical Real Estate announced Thursday. Located at 1717 Will O’ Wisp Drive, the two-story Beach Medical Pavilion has 52,000 square feet. Its tenants are Gastroenterology Ltd. of Virginia Beach and OrthoVirginia. The property is across the street from Sentara Virginia […]
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 […]
