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For The Record July 2024
CENTRAL VIRGINIA Developers broke ground May 30 on The Helios, a $54 million, rent-restricted, solar-powered apartment building in Henrico County, according to an announcement by Bank of America, which is financing construction. A joint venture between Spy Rock Real Estate Group and Crescent Development, both based in Richmond, the apartments will replace an abandoned motel. […]
StartVirginia: Heard Around Virginia July 2024
Auterion, a software maker for computing platforms that support drones and autonomous robotics systems, has relocated its headquarters to Arlington County from Moorpark, California, as it seeks to be closer to its defense-related customers. The company already had some of its 112 employees based in the Washington, D.C., metro area for several years, but Auterion’s […]
FOR THE RECORD June 2024
CENTRAL VIRGINIA Washington, D.C.-based real estate analytics and data company CoStar Group will receive a grant from the City of Richmond worth several million dollars because of the company’s plan to build an office tower expected to generate more than $30 million in new tax revenue. On April 22, Richmond City Council approved an ordinance […]
FOR THE RECORD May 2024
CENTRAL VIRGINIA Richmond-based Atlantic Union Bankshares completed its acquisition of Danville-based American National Bankshares, parent company of American National Bank and Trust, on April 1. Based on the $35.31 per share closing price of Atlantic Union common stock on March 28, the transaction value was approximately $507 million. The deal was announced in July 2023, […]
April 2024 FOR THE RECORD
CENTRAL Charlottesville-based geospatial analytics firm Astraea was acquired by Nuview, a Florida-based company developing a satellite imaging constellation, the companies announced Feb. 27. Financial terms of the deal were not available. Founded as a for-profit benefit corporation in 2016, Astraea applies data science and artificial intelligence to analyze imaging and sensor data gathered from Earth-observing […][...]
February 2024 FOR THE RECORD
Central Virginia A halal meat business, 5 Pillar Meats, will invest more than $1.7 million to build an abattoir and red meat processing facility in Prince Edward County, a project expected to create 12 jobs, Gov. Glenn Youngkin announced Dec. 28, 2023. The nearly 3,000-square-foot facility will be located on a 3-acre site in the […]
FOR THE RECORD JANUARY 2024
ROANOKE/NEW RIVER VALLEY State regulators approved a rate increase for Appalachian Power that will add about $16 to the monthly bill of an average residential customer. The State Corporation Commission’s authorization will not take effect until the last week of January, meaning that the higher cost of electricity will start to show up in February […]
FOR THE RECORD DECEMBER 2023
CENTRAL VIRGINIA Cedar Fair Entertainment, the parent company of Hanover County theme park Kings Dominion, is merging with Six Flags Entertainment in an all-stock deal valued at $2 billion, the companies announced Nov. 2. Cedar Fair unitholders will own 51.2% and Six Flags shareholders will own approximately 48.8%. The new combined company will have 27 […]
FOR THE RECORD November 2023
Central Virginia Bon Secours announced Sept. 29 it had reached an agreement with Anthem Blue Cross and Blue Shield in Virginia, which the health system sued in August, alleging the insurer owed Bon Secours $93 million in unpaid claims. Although details were not released due to confidentiality agreements between the two parties, Bon Secours said […]
For the Record September 2023
CENTRAL VIRGINIA Richmond-based convenience store giant Arko‘s revenue for the second quarter fell 3%, $2.47 billion from last year’s total, despite a 21% jump in total gallons of gasoline and diesel sold and a 12% increase in merchandise sales. According to Arko, its margin on gasoline and diesel — the difference between the price it […]
For the record August 2023
CENTRAL VIRGINIA Buc-ee’s, the Texas-size travel center chain, completed its purchase of 27.686 acres in New Kent County for $6.5 million and will open its first Virginia location in the next two years, with three more slated across the state, S.L. Nusbaum Realty Co. announced June 16. At more than 75,000 square feet, the new Buc-ee’s […]
FOR THE RECORD JULY 2023
CENTRAL VIRGINIA Henrico County-based Altria Group Inc. completed its acquisition of e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion, the tobacco giant announced June 1. NJOY is now a fully owned subsidiary; its new president and CEO is Shannon Leistra, who previously served as senior vice president and consumer experience officer at Altria Client […]
