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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[...]
89 acres near Richmond airport sells for $4.78M
New York-based real estate company Ashley Capital has purchased 89 acres of land near Richmond International Airport in Henrico County for $4.78 million, Cushman & Wakefield | Thalhimer announced April 27. The land, at 7001 S. Laburnum Ave., had been owned by Pruitt Properties Inc. The new owner will use the land for a new […]
Execs honored by Va. Credit Union League
UVA Community Credit Union President and CEO Alison DeTuncq was presented with the James P. Kirsch Lifetime Achievement Award, the Virginia Credit Union League’s highest honor, during the league’s 2022 annual meeting in Roanoke on April 21. The Kirsch award, which recognizes individuals who help improve the future fo[...]
Setting a course
Each week, MDV SpartanNash LLC, the nation’s leading supplier for overseas U.S. military commissaries and exchanges, loads 100 to 200 containers filled with everything from peanut butter to clothing aboard steamships bound for Europe, Africa, Bahrain, Kuwait and Honduras, as well as Puerto Rico and Guantanamo Bay. “In places[...]
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[...]
