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Need Supply Co. to host first pop-up showroom in Charlottesville
Richmond-based e-commerce retailer Need Supply Co. will launch a pop-up showroom in Charlottesville for the holidays. The 23-year-old fashion and home goods store is based in Richmond’s Carytown district and has a second shop in Tokyo, but most of its business is conducted online, filling e-commerce orders in the United States[...]
Richmond’s Market Villas apartments sells for $3.9M
Richmond real estate developer Lynx Ventures sold Market Villas, a 31-unit adaptive reuse apartment property, to real estate asset management firm CJehn Partners LLC for more than $3.9 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Wednesday. The property located in downtown Richmond’s historic Shockoe Bottom neighborhood includes first-floor retail space in close […][...]
SCHEV issues ‘roadmap’ for state economic development investment
The Virginia Research Investment Committee has approved the State Council of Higher Education’s Commonwealth Research and Technology Strategic Roadmap, which spells out research areas that will yield the greatest impacts from state investment in economic development with state investment for the next three years, SCHEV announced Wednesday. The report identifies these research areas as worthy […][...]
25-story tower planned for Tysons
Construction is beginning on a 25-story speculative office tower in Tysons. The 383,628-square-foot building, to be called Tysons Central, is being developed by the Potomac, Maryland, real estate investment firm Foulger-Pratt and San Antonio-based USAA Real Estate. Completion of the $200 million building is expected in 2021. It [...]
Port of Virginia begins $350M dredging project
The dredging project to make Virginia the East Coast’s deepest port has begun nearly two-and-a-half years earlier than expected, The Port of Virginia announced Monday. Dredging work started Dec. 2 to deepen the western side of Thimble Shoal Channel to 56 feet for commercial channels. After the dredging, the Norfolk Harbor will be able to […]
Herndon software company acquired by Florida tech distributor
Herndon-based software and cloud solutions company DLT Solutions was acquired by Clearwater, Florida-based technology distributor Tech Data Corp., Tech Data announced Monday. DLT is now a wholly owned subsidiary of Tech Data Corp. The financial terms of the acquisition were not disclosed. DLT Solutions provides cloud solutions for the U.S. public sector and will continue […]
McLean cloud network provider pays $55M for Dutch company
McLean-based cloud networking provider GTT Communications Inc. acquired Dutch telecommunications and IT provider KPN International for €50 million cash (or about $55.4 million), GTT announced Monday. The acquisition will add more than 400 strategic enterprise and carrier clients and will make GTT the preferred international network supplier for several hundred of KPN’s clients. It will […][...]
Chester shopping center sells for $18.6M
Bermuda Square shopping center in Chester has been sold for $18.6 million, according to Cushman & Wakefield | Thalhimer’s Capital Markets Group. Brentwood, Tennessee-based GBT Realty Corp. acquired the 84,064-square-foot property, its first investment in the Richmond market, on Nov. 26 from Giant Food Stores, the parent company of Martin’s grocery stores, according to Catharine […]
Henrico Jiffy Lube property sells for $2.2M
A private investor purchased a 4,210-square-foot property in Henrico County occupied by a Jiffy Lube for $2.2 million in late November, according Cushman & Wakefield | Thalhimer. The automotive maintenance and servicing shop will continue to operate on the property at 5710 W. Broad St. James Ashby IV of Cushman & Wakefield | Thalhimer handled […]
Portsmouth public housing community gets a face-lift
The Lincoln Park public housing community in Portsmouth is being redeveloped as Lexington Place in a massive redevelopment launched Tuesday. The first phase of construction of the new public housing complex, expected to cost $16 million, will include 72 townhouse-style apartments, and once the entire project is completed, Lexington Place will have 144 residential units […]
Ex-LeClairRyan employee settles pay discrimination lawsuit
Former LeClairRyan PLLC employee Marci Keatts settled her gender pay discrimination lawsuit against the defunct firm for an undisclosed amount, according to a Nov. 22 court order by Richmond U.S. District Judge Robert E. Payne. The Richmond-based firm, once the fifth-largest in the state, shut down in October under Chapter 7 dissolution after filing for […]
Casino gaming could create 7,600+ jobs
Five proposed casinos, sports wagering and online casino gaming would directly create about 7,600 jobs and generate $367 million in net annual state tax revenue, according to projections released Monday by the Joint Legislative Audit and Review Commission. However, the five casinos combined would bring in less tax revenue than the Virginia Lottery, which in […]
