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Follow up: Casino gaming could create 7,600+ jobs
Five proposed casinos, sports wagering and online casino gaming would directly create about 7,600 jobs, according to projections released in late November by the Joint Legislative Audit and Review Commission. However, the five casinos combined would generate $367 million in net annual state tax revenue — less than the Virgin[...]
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 […]
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 […]
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[...]
Henrico industrial park sells for $6.4M
Parham Forest Industrial Park in Henrico County has sold for more than $6.4 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Richmond-based Remuda Forest Investment Company LLC bought the property, and was represented by Eric Robinson. Gregg W. Beck represented the buyer. Both Robinson and Beck are with Thalhimer’s Capital Markets Group. […][...]
Colliers International names three new principals
Norfolk-based Colliers International Group Inc. has named three new principals in the firm, the company announced Monday. Donald Crigger, executive vice president, and George “Hank” Hankins, senior vice president, and Charles Wentworth, senior vice president, are now part owners of the commercial real estate firm. Crigger an[...]
Petersburg hotel operator files $28M claim in LeClairRyan bankruptcy case
Virginia hotel operator Petersburg Regency LLC filed a $28 million claim in the LeClairRyan bankruptcy case Thursday in Richmond, according to the federal court filing. Petersburg Regency is seeking relief from an automatic stay in LeClairRyan’s handling of an insurance dispute from 2003’s Hurricane Isabel. An automatic stay ensures equality of distribution by preventing one […]
Breeden Construction tapped to build apartment complexes
Virginia Beach-based Breeden Construction LLC has been named general contractor for apartment complexes in Richmond, Hampton Roads and Northern Virginia valued at a total of approximately $105 million, Breeden announced this week. Construction began in fall 2019 on the Hampton Roads and Richmond properties and the Northern Virginia property will begin in early 2020. The […]
Genworth completes $1.8B sale of Canadian unit
Henrico County-based Genworth Financial Inc. has completed the sale of the majority stake in its Canadian mortgage insurance company. The sale of Genworth MI Canada Inc. to Brookfield Business Partners is part of Genworth’s effort to clear the way for its long-delayed takeover by China Oceanwide Holdings Group Co. Ltd. Brookfield paid $48.86 Canadian dollars (CAD) […]
Go Virginia awards $5.8 in regional grants
Nine regional projects will receive a combined $5.8 million in Growth and Opportunity for Virginia (GO Virginia) funding, Gov. Ralph Northam announced Wednesday. The grants, which were approved by the Go Virginia Board and the Virginia Department of Housing and Community Development, will support regional economic development and workforce development initiatives and encourage collaboration among local […][...]
Wegmans distribution center to bring 700 jobs to Hanover
Wegmans Food Markets plans to build a $175 million regional distribution center in Hanover County, creating 700 jobs, Gov. Ralph Northam announced Wednesday. The campus, which will be located along Sliding Hill and Ashcake Roads off Interstate 95 in Ashland, will expand the grocer’s distribution network on the East Coast. [...]
