Rich Griset Archives - Page 3 of 22

State litter tax rate, penalty increase go into effect May 1

Rate increases and a large additional penalty for late payments for the state’s litter tax will go into effect for Virginian business owners on May 1.

The changes, a result of legislation from the 2020 General Assembly session, are as follows:

– The litter tax payment will increase up to $20 per business establishment.
– The additional litter tax rate rises to $30 per business establishment for manufacturers, wholesalers, distributors, and/or retailers of groceries, soft drinks, carbonated water, beer and other malt beverages.
– Business establishments that opened on or before Jan. 1, 2020, will be subject to additional penalties if they pay after the due date of May 3, 2020. The fine includes a late payment penalty equal to 100% of the tax due, plus the accrued interest and an additional late payment penalty of $100.

Electronic payment options are available on the Virginia Tax website.

“We really want you to make your Litter Tax payment on time to avoid penalties and interest,” said Arleen Green, Virginia Tax’s Assistant Commissioner for the Office of Compliance, in a statement. “One more thing to know, unless you apply and qualify for a hardship waiver, you must make that payment electronically.”

If you have questions about the Litter Tax, making electronic payments or registering your business with Virginia Tax, contact the Virginia Tax business customer service hotline at (804) 367-8037.

Capital Square names new VP of HR

Henrico-based real estate investment company Capital Square announced on Monday that it has promoted Tangela Lambert to the position of vice president of human resources.

Lambert joined Capital Square in 2016 as its human resources director. Lambert has more than 10 years of experience in human resources and employee relations. She earned a bachelor’s degree in business management from Hampton University and a master’s degree in human resources management from Liberty University.

“Tangela has done a superb job of filling Capital Square’s ranks with top-tier talent from entry level all the way to the C-suite,” said Louis Rogers, founder and CEO of Capital Square, in a statement. “As the company grows, she has the skills and dedication to ensure that Capital Square retains its competitive advantage with exceptionally talented employees.”

Norfolk industrial building sells for $3.75M

A 66,000-square-foot industrial building in Norfolk has sold for $3.75 million.

Virginia Beach-based Club Forrest Acquisitions LLC purchased the building, located at 4500 Progress Road, from Boston-based Wheeler Commercial Properties. The deal closed on April 15.

The building is situated on a four-acre parcel and is currently occupied by Superior Distribution, a subsidiary of Texas-based SRS Distribution Inc., that specializes in exterior residential building products, and Superior Pool Corp.

R. Worth Remick and Patrick Gill of Colliers represented the seller. Ricky Anderson, Ashton Williamson and Lang Williams of Colliers represented the buyer.

Commercial real estate leasing roundup

Central Virginia

– Weyerhaeuser Co. renewed its lease of 72,399 square feet of industrial space at Sarellen Road Warehouse, 4200-4222 Sarellen Road, in Henrico County. Evan Magrill and Scott Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord.
– Belvac Production Machinery Inc. leased 40,000 square feet of industrial space at 1450 Meade Road in Forest. Norman Moon of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
– Essex Bank renewed its lease of 25,375 square feet of office space at Deep Run 3, 9954 Mayland Drive, in Henrico County. Brian Berkey, Karla Knight and Mark E. Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
– MASA Corp. subleased 19,019 square feet of industrial space at 5401 Eubank Road in Henrico County. Gregg W. Beck of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord; Evan Magrill, also with Thalhimer, represented the tenant.
– MBS Production Services leased 12,500 square feet of industrial space at 1800 W. Marshall St. in Richmond. Baker Lynn of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
– Hobbytown leased 12,376 square feet of retail space at Broad Street Plaza, 9864-9900 W. Broad St., in Henrico County. Nicki Jassy and Pete Waldbauer of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord.
– Circle Graphics Inc. renewed its lease of 7,520 square feet of industrial space at Manchester Industrial Park, 1615 Elmdale Ave., in Richmond. Graham Stoneburner and Scott Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord.
– DaVita Dialysis leased 6,600 square feet of retail space at 2008 Wards Road in Lynchburg. Norman Moon of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord.
– Woodmark Designs Inc. renewed its lease of 5,400 square feet of industrial space at Eubank Center, 4200-C Eubank Road, in Henrico County. Isaac DeRegibus of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
– Executive Health Group leased 5,294 square feet of office space at MEDARVA Building, West Creek Medical Park, 1630 Wilkes Ridge Parkway, in Goochland County. David M. Smith of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.
– Sorvino LLC renewed its lease of 5,044 square feet of office space at 4106 W. Clay St. in Henrico County. Amy J. Broderick, Graham Stoneburner and Scott Douglas of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the landlord.
– The Twisted Crab leased 5,012 square feet of retail space at Chesterfield Towne Center mall on Midlothian Turnpike in Chesterfield County. Dean G. Martin of Cushman & Wakefield | Thalhimer handled lease negotiations on behalf of the tenant.

Eastern Virginia

– Craters & Freighters renewed its lease of 19,200 square feet of industrial space in Chesapeake. Tony Weiss of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord. Patrick L. Mumey, also of Cushman & Wakefield | Thalhimer, represented the tenant.
– CHKD Thrift Stores renewed its lease of 10,500 square feet of retail space located at 3138 Western Branch in Chesapeake. Susan Pender represented the landlord and Peter Abraham of Harvey Lindsay Commercial Real Estate represented the tenant in this transaction.
– Goldbelt Inc. renewed its lease of 9,563 square feet of office space located at 603 Pilot House Drive in Newport News. Matt Leffler of Harvey Lindsay Commercial Real Estate handled this transaction.
– Carvana leased 8,889 square feet of retail space locate at 6609 and 6611 East Virginia Beach Blvd. in Norfolk. Bob King of Harvey Lindsay Commercial Real Estate handled this transaction.
– Avid LLC renewed its lease of 8,715 square feet of industrial space in Yorktown. Andy Dallas of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.
– Teksystems Inc. renewed and expanded its footprint to 7,515 square feet of office space at 676 Independence Parkway in Chesapeake. Christine M. Kaempfe of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the tenant.
– SKDCJ Inc. renewed its lease of 7,488 square feet of industrial space located at 2771 St. Julian’s Ave. in Norfolk. Lindsay Himelright of Harvey Lindsay Commercial Real Estate handled this transaction.
– Country Grill renewed its lease of 6,869 square feet of retail space located at 1713 George Washington Memorial Highway in York County. Alex Stern of Harvey Lindsay Commercial Real Estate handled this transaction.
– Strayer University LLC leased 6,168 square feet of retail space located at 11805 Fountain Way at City Center at Oyster Point in Newport News. Alex Stern, Clark Baldwin and Bob Saunders of Harvey Lindsay Commercial Real Estate handled this transaction.
– Gruma Corp. renewed its lease of 6,000 square feet of industrial space located at 533 Byron St. in Chesapeake. Charles Dickinson of Harvey Lindsay Commercial Real Estate handled this transaction.
– Custom Closets and Glass leased 5,000 square feet of industrial space located at 901 Port Centre Parkway in Portsmouth. Kimberly Worley of Harvey Lindsay Commercial Real Estate handled this transaction.
– Compound Crossfit LLC renewed its lease of 5,000 square feet of industrial space in Chesapeake. Christine M. Kaempfe and Patrick L. Mumey of Cushman & Wakefield | Thalhimer represented the landlord.

Northern Virginia

– Pepperidge Farm Inc. renewed its lease of 6,000 square feet of industrial space at Longwood Business Center, 230 Industrial Drive, in Spotsylvania County. Virgil G. Nelson of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord.

Arlington’s Blackfin acquires Roanoke County apartments for $23.2M

Arlington-based Blackfin Real Estate Investors LLC purchased Villages at Garst Creek, a 504-unit apartment complex in Roanoke County, for $23.25 million. The deal closed on April 21.

Built in 1974, the 33-building property is located at 4375 Garst Mill Road. The property was rehabbed in 2007 under the Section 42 Low-Income Housing Tax Credit program.

Blackfin purchased the property from Villages at Garst Creek LLC.

Virginia’s median home price jumps 9.8% over previous year

On April 20, Virginia Realtors reported that the median statewide home sales price for March was $335,000, up 9.8% from a year ago.

Outlined in Virginia Realtors’ March 2021 Home Sales Report, the trade association reports that home prices have been rising quickly since last summer, with year-to-date home prices up in nearly every market in the state. The growth has been fueled by strong demand, limited inventory and extremely low mortgage rates.

“In the current competitive market, many buyers are engaging in bidding wars, offering over list price and making a range of concessions to improve their offers,” said Lisa Sturtevant, Virginia Realtors’ chief economist.

Virginia saw 11,518 home sales in March, about 1,000 more than the previous March, an increase of 9.6%.

However, the state’s dwindling inventory of available homes could cause a cooldown in the spring market. Virginia Realtors reports that supply was “very limited” at the end of March, with just 15,787 active listings, more than 13,000 fewer active listings than a year earlier, representing a decline of 45.8%.

Fortnite video game CEO makes Va.’s largest land conservation gift

North Carolina billionaire and Epic Games Inc. CEO Tim Sweeney has donated 7,300 acres of privately-owned land in Halifax County to the state — the largest single private land conservation gift in Virginia history, Gov. Ralph Northam announced Friday.

Cary, North Carolina-based Epic is the company behind the massively popular video game franchise Fortnite, which amassed 350 million players in less than three years following its September 2017 launch. As of April 15, Fortune magazine reported that Epic was valued at $28.7 billion and Sweeney has a net worth of $7.4 billion.

The tract of land that Sweeney donated, which is known as Falkland Farms, will be owned and operated by the Virginia Department of Conservation and Recreation (DCR) and renamed the Southside Virginia Conservation and Recreation Complex. The property will be the first joint project between DCR’s Natural Heritage Program and Virginia State Parks. The Natural Heritage Program will conduct a habitat restoration project at the site, using controlled burning “to restore the Piedmont savanna and forest ecosystems the tract once supported,” according to a news release.

Home to 17 species of rare plants and animals, the conservation area has a high concentration of biodiversity, state officials said. The tract forms a key link in a network of natural lands that includes the Kerr Reservoir, Banister River South and Wolf Trap federal wildlife management areas. These state- and federally-owned properties will total 40,000 acres of conserved, contiguous wetlands, floodplains and upland forests.

“This announcement represents one of the most significant conservation successes in Virginia history,” said Northam in a statement. “Falkland Farms is exactly the kind of priority land we want to conserve and by setting it aside for conservation, we will protect the natural habitat and ecosystem, increase floodplain resilience and preserve its scenic views. I am deeply grateful to conservation philanthropist Tim Sweeney for his generosity and vision in conserving this land and for entrusting the Department of Conservation and Recreation with this tremendous opportunity.”

It was also announced on Thursday that Sweeney would donate 7,500 acres of land in northwest North Carolina to the Southern Appalachian Highlands Conservancy, according to The News & Observer. Sweeney, a conservationist, also donated a 7,000-acre conservation easement in North Carolina’s Box Creek Wilderness to the U.S. Fish and Wildlife Service in 2016.

Maximus acquires Houston veterans services company for $1.4B

Reston-based government services company Maximus announced Wednesday that it will purchase the parent company of Veterans Evaluation Services Inc. (VES) for $1.4 billion.

Based in Houston, VES is a privately held company that serves the federal government, including the U.S. Department of Veterans Affairs, as a provider of medical disability examinations to determine veterans’ eligibility for compensation and pension benefits.

The acquisition is expected to close during Maximus’ third fiscal quarter.

In a news release, Maximus stated that the acquisition matched several of its corporate strategic priorities, including providing large-scale outsourcing of clinical services and expanding in the U.S. federal market. Maximus said that the deal also complements its March acquisition of the federal division of McLean-based Attain LLC for $430 million by “expanding the company’s support of the U.S. Department of Veterans Affairs and creating new opportunities to apply digital solutions to improve citizen services.”

“We welcome the employees of VES, who are leaders in serving the U.S. Department of Veterans Affairs and, together with Maximus, will continue to support our nation’s heroes, through programs and services targeted at addressing the personal, health and employment needs of veterans and their families,” Maximus President and CEO Bruce Caswell said in a statement.

“We are pleased to enter into this transaction with Maximus, an organization that shares the unwavering commitment to veterans that has always been the core of the VES mission,” VES founder George Turek said. “We admire the Maximus organization’s high-quality reputation and track record of operating and managing large complex programs and performing mission critical functions for government agencies. Maximus brings additional resources, scale and technology innovation that will position VES to provide enhanced service to our nation’s veterans while maintaining industry-leading medical disability examination services.”

With more than 30,000 employees worldwide and $3.46 billion in 2020 revenues, Maximus promotes itself as the nation’s largest Medicaid enrollment administrator. The company was founded in 1975 and provides business process management and technology services.

Cuisine Solutions Inc. announces new chief marketing officer

Alexandria-based Cuisine Solutions Inc. announced Wednesday that it has hired Thomas Donohoe as its chief marketing officer.

Donohoe served for the last 11 years as the CEO of Level Agency, a Pittsburgh-based performance marketing and advertising agency. He sold the agency to his colleagues in March.

“I am thrilled to be starting my next chapter with such a prestigious company that has made such a significant mark on the culinary industry,” said Donohoe in a statement. “I’m looking forward to working with the Cuisine Solutions executive team and the amazing sales and marketing teams to provide my insight into how we can strengthen our brand’s truth in leadership and excellence and thrive in the ever-evolving marketing ecosystem.”

Founded in 1971, Cuisine Solutions is a premium food company specializing in the sous-vide method of food preparation. It manufactures prepared foods for larger clients including hotel chains, cruise ship operators, the U.S. military, restaurant franchises and schools.

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Unison acquires Price Systems

Dulles-based Unison Software Inc. announced Wednesday that it has acquired New Jersey-based Price Systems LLC for an undisclosed amount.

Both companies provide software to support governmental missions, acquisition professionals, government contractors and manufacturers.

“Our customers’ mission-critical programs continue to grow more complex. Price Systems best practices, thought leadership and unrivaled data-driven software are the best means of managing complexity and reducing risk,” Unison CEO Reid Jackson said in a statement.