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Dropping anchor
LS GreenLink USA spent two years on site selection, scouring much of the East Coast for the right location to build a 750,000-square-foot factory to manufacture subsea cables for offshore wind farms. Then it landed on Chesapeake. Patrick Shim, LS GreenLink’s managing director, cited several reasons for the company’s [...]
Va. Realtors: Home sales to increase 9.8% in 2025
Virginia Realtors forecasts a 9.8% year-over-year increase in home sales in 2025, according to its 2025 Economic & Housing Market Forecast, released Thursday. So far this year, housing sales in the state are outpacing sales last year (although the pace of sales is below the annual average) and are on track to be up 2.9% [&he[...]
Virginia Realtors CEO retires
Virginia Realtors CEO Terrie L. Suit is retiring after 11 years heading the state’s largest trade association, according to a Sept. 14 announcement. Glen Allen-based Virginia Realtors, which represents 36,000 Realtors, has appointed Martin K. Johnson as interim CEO. He has held varying roles with the association, including[...]
NoVa, Hampton Roads home sales decline in August
Home sales in Northern Virginia and Hampton Roads dropped year-over-year and month-over-month in August, although inventory and selling prices in both regions increased from the same time last year. Northern Virginia August home sales in Northern Virginia dropped 8.1% from August 2023, according to data released Sept. 12 by the [...]
Henrico EDA program will help international businesses get foothold
The Henrico Economic Development Authority is launching a global business gateway program for internationally headquartered companies seeking to establish a presence in the United States. The Henrico Global Business Gateway, which the EDA announced Tuesday, will provide international businesses with office space for up to three [...]
ACI doubles its Chesterfield HQ
Commercial and industrial contractor Atlantic Constructors Inc. (ACI) is doubling its headquarters in Chesterfield County, a roughly $25 million project. The contractor, which provides mechanical, electrical, plumbing and fire protection products and services, plans to open a second 170,000-square-foot building on 18 acres besid[...]
Peterson Cos. names president
Daniel McCahan, most recently chief operating officer of Madison Marquette, will become president of Fairfax-based real estate developer Peterson Cos. on Sept. 9. McCahan worked at Washington, D.C.-based real estate investment firm Madison Marquette for 13 years, first joining as a senior vice president. “We are pleased to wel[...]
LL Flooring sells Henrico distribution center for $104M
Read more: LL Flooring to sell 219 stores; 211 other stores set to close LL Flooring has sold its eastern Henrico County distribution center to a limited liability company for $104.75 million, according to documents the Henrico-based flooring company filed with the Securities and Exchange Commission on Tuesday. Formerly known as[...]
Locked gears
When Gail Courville decided this year to move closer into the Richmond metro area from Serenity Farm, her 109-acre Goochland County estate, she faced a real estate market vastly changed from the last time she relocated, back in 2014. The interest rate on the nearly $900,000, 5,000-square-foot home she wanted to purchase in Henri[...]
Martinsville industrial property sells for $2.35M
An entity connected to Time Equities, a New York diversified investment, development, asset and property management and alternative energy company, purchased a 99,500-square-foot industrial building in Martinsville currently leased by Atlas Molded Products on Aug. 14 for $2.35 million, according to real estate records and a Cush[...]
Virginia Housing board elects officers
Members of the Virginia Housing Development Authority’s Board of Commissioners elected Sarah Barrie Stedfast chair, the organization announced last week. Stedfast is venture president at Norfolk’s RW Towne Mortgage, a subsidiary of TowneBank Mortgage, and is active in the Virginia and Tidewater mortgage bankers associations. She has a degree in business finance from Virginia Tech. […][...]
Inventory grew in Va. housing market in July
Inventory grew for Virginia’s housing market in July, according to Virginia Realtors data released Aug. 21. At the end of July, there were 19,162 active listings in the state, which was 4,223 more listings than in July 2023 — a 28.3% increase. Of those listings, 12,439 came onto the market in July, a 13.6% increase [&h[...]
