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Lambert’s Point Docks in Norfolk to become $100M maritime center
In a deal predicted to bring more than 500 jobs and over $100 million in capital investment, the Lambert’s Point Docks property in Norfolk will become a maritime operations and logistics center to support local offshore wind, defense and transportation industries. The land, owned by Norfolk Southern Railway Co., has been l[...]
Henrico townhouse complex sells for $18.5M
The Townhomes of Oakley, a 160-unit multifamily property in eastern Henrico County, has sold for $18.5 million, Cushman & Wakefield announced Thursday. Located at 4633 Needham Court near the Richmond International Airport, the property is 99% leased and has eight one-bedroom units, 112 two-bedroom units, 36 three-bedroom units and four four-bedroom units, all of which […]
Va. Credit Union League announces new directors
The Virginia Credit Union League announced on Friday its newly elected directors. The following credit union executives are starting first terms on the league’s board: Kim Little, Virginia Beach-based Chartway Credit Union Bruce Six, Dahlgren-based Topside Federal Credit Union Mike Warrell, Martinsville-based ValleyStar Cr[...]
CV International subsidiary acquires Ga. shipping company
Norfolk-based CV International Inc. subsidiary Capes Shipping Agencies announced Wednesday that it had acquired Savannah, Georgia-based Ryan Ship Services LLC. Financial terms of the transaction were not disclosed. “This merger will be a great fit for both of our companies, and the timing was perfect,” CVI President and CEO [...]
Medical cannabis companies amass political power in Va.
RICHMOND, Va. — Many small cannabis entrepreneurs say large companies are jockeying to lock them out of the industry and have funding that gives them more access to lawmakers. “Small businesses are the backbone of the country,” said Sarah Grant, general manager of The Dispensary in Richmond. The shop opened last year a[...]
CoStar Group buys former SunTrust building in Richmond
CoStar Group Inc. has expanded its Richmond footprint with the $20 million purchase of the former SunTrust office building on the James River. The five-story, 117,448-square-foot building at 901 Semmes Ave. will be occupied by at least 400 employees, however the company has not determined which teams will occupy the space yet, a[...]
U.Va. hits $4B in capital campaign
The University of Virginia has hit its $4 billion benchmark in its $5 billion Honor the Future capital campaign three years ahead of its deadline, the university announced this week. U.Va. has brought in significant individual donations during the fundraising campaign, including a record-breaking $120 million gift from alumni Ja[...]
Turning on a dime
Though many American consumers may not think about it much, trucks move just about everything they buy, use, eat, drink and wear. The U.S. trucking industry hauled 72.5% of all freight transported nationwide in 2019, according to the Arlington-based American Trucking Associations. Why should anybody care? Because the ranks of tr[...]
Port of Virginia
In fiscal 2021, the Port of Virginia set cargo records, generating more than $100.1 billion in ancillary economic impact, according to a report from William & Mary’s Raymond A. Mason School of Business in conjunction with Glen Allen-based Mangum Economics. The six-terminal system generated 436,667 jobs, $47.4 billion in Virginia gross state product, $27.2 billion […]
Forward motion
Shenandoah is known for apple blossoms, but something else is popping up this spring in Front Royal: a new 340,000-square-foot warehouse logistics center. About a half-mile from the Virginia Inland Port, the center is one of roughly a dozen projects in the region built by Equus Capital Partners Ltd., a commercial real estate age[...]
Next stop — civilian life
“About every 15 minutes,” Shawn Avery’s phone at the Hampton Roads Workforce Council rings with an employer calling to find skilled workers to fill vacancies, he says. Avery is president and CEO of the council, which oversees federally funded workforce development programs and links employers and workers. In the presen[...]
Solid prospects
Detlev Peters has walked into convenience stores in the Hampton Roads area a couple of times recently to find the candy aisle shockingly empty. “Hershey’s, Reese’s, M&M’s, everything, like they would just have a clean shelf of just nothing,” marvels Peters, who graduated with a degree in maritime and supply chain m[...]
