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Henrico shopping center sells for $21.7M
The Colonnades West shopping center in Glen Allen was sold to Quebec, Canada-based Colterra Capital Corp. for $21.76 million, Divaris Real Estate Inc. announced Thursday. Located on 14.73 acres of land, Colonnades West is 97.5% leased to anchor tenants Ross Dress for Less, Marshall’s, Office Max and Shoe Carnival. The 136,[...]
Top stories in 2019
From millennials taking control in the workplace to a Democratic takeover in Richmond, here are Virginia Business’ biggest stories from 2019. 10. The rise of the millennials | As boomers exit, the 2020s will see America’s largest generation dominate the workplace 9. 100 people to meet in 2020 | Our inaugural list of [...]
Richmond property sells for $2.75M
Richmond-area developers Louis Salomonsky and David White of SWA Construction Inc. sold a 0.75-acre property across from the Lucky Strike Building in the city’s Libby Hill area for $2.75 million, Commonwealth Commercial Partners LLC (CCP) announced Monday. The site is part of a three-parcel purchase of vacant land along East Main and Pear streets. Bruce Milam, […]
The Hilb Group acquires Rhode Island insurer
Henrico County-based insurance broker The Hilb Group LLC (THG) has acquired Rhode Island-based Wickford Insurance Agency Inc. (WIA) in a deal that closed on Dec. 1, THG announced Tuesday. Financial details of the deal were not disclosed. WIA is a property and casualty insurance agency and its associates will join THG’s Rhode Island operations under […]
Virginia renews 15 Enterprise Zones
Fifteen Virginia Enterprise Zones (VEZ) were renewed for another five years, continuing to make expanded economic development grants available for qualified employers and investors in the zones, Gov. Ralph Northam announced Monday. The Virginia Department of Housing and Community Development (DHCD) administers the program for the 15 zones that were initially designated in 2000, 2005 […]
Genworth extends Chinese acquisition to March
Henrico County-based Fortune 500 insurance company Genworth Financial Inc. has extended the timeline for its long-delayed $2.7 billion takeover by China Oceanwide Holdings Group Co. Ltd. until March 31, the company announced Monday, marking the 13th time the agreement has been extended. On Dec. 12, Genworth sold its majority stake in its Canadian mortgage insurance […]
Verizon 5G Ultra Wideband service comes to Hampton Roads
Verizon announced Monday that its 5G Ultra Wideband mobility service is now active in Hampton Roads. The service is available in 31 cities across the country and works on seven mobile phone models. The fifth-generation cellular network covers several parts of the region, including Virginia Beach Oceanfront, downtown Norfolk, Newport News, Old Dominion University, Hampton […]
Virginia’s unemployment rate stays at 2.6% in November
Virginia’s unemployment rate remained at 2.6% in November, keeping it almost one percentage point lower than the national rate, Gov. Ralph Northam announced Friday. The November unemployment rate was 0.2% lower than the rate from one year ago. In addition, the labor force expanded for the 17th month in a row by 13,326, or 0.3%, […]
Staunton’s Cadence Inc. names new VP of operations
Staunton-based manufacturer Cadence Inc. announced Friday that Chris McHugh will be its new vice president of operations and will oversee the company’s five facilities. McHugh comes from New London, Wisconsin-based Bemis Healthcare Packaging, where he was vice president of global operations and supply chain. He has worke[...]
Deep-water terminal sold for $8.15 million
A 55-acre deep-water terminal in Chesapeake has been sold to Norfolk-based Ruth Industrial LLC for $8.15 million, Cushman & Wakefield | Thalhimer announced this week. The property at 700 Rosemont Ave. includes about 60,000 square feet of industrial space and a 400-foot concrete pier. The seller is OEP Rosemont LLC, based in [...]
Richmond-based GPM acquires Dallas fuel distributor
Richmond-based convenience stores owner and operator GPM Investments LLC signed an agreement to acquire substantially all of the assets of Dallas, Texas-based Empire Petroleum Partners LLC, adding 1,457 wholesale fuel locations to its footprint, GPM announced Wednesday. With the transaction in place, GPM is expected to distribute 2.5 billion gallons of fuel annually across 2,800 […]
Retail mall in Henrico sells for $6.3M
The Virginia Center Parkway strip mall in Henrico County was sold for $6.3 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. JDJR Central LLC bought the 24,400-square-foot property located on Brook Road that is 100% leased to seven tenants. Tenants include Chipotle, Mattress Firm and A[...]
