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Henrico townhouse complex sells for $18.5M
The Townhomes of Oakley, a 160-unit multifamily property in eastern Henrico County, has sold for $18.5 million, Cushman & Wakefield announced Thursday. Located at 4633 Needham Court near the Richmond International Airport, the property is 99% leased and has eight one-bedroom units, 112 two-bedroom units, 36 three-bedroom units and four four-bedroom units, all of which […]
Markel Corp. names new CIO
Glen Allen-based Fortune 500 insurance and investment firm Markel Corp. has named Morris Taylor as its chief information officer for the company’s insurance operations. Taylor joined Markel in 2018 and served as its head of global technology. He previously spent two decades at Capital One working in a variety technology le[...]
U.Va. Medical Center, UVA Health hire new execs
University of Virginia Medical Center has appointed Min Y. Lee as its next chief operations officer. Lee, who is vice president of operations at Reading Hospital in Reading, Pennsylvania, will oversee the Charlottesville-based medical center’s day-to-day operations. Her first day will be June 27, according to a news releas[...]
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 […]
AIA’s top Va. exec moves to national role
Corey Clayborne, who has served as executive vice president and CEO of the American Institute of Architects Virginia since 2017, is moving up to the national organization. Clayborne will serve as senior vice president of knowledge and practice at the AIA’s Washington, D.C., headquarters. His last day with AIA Virginia is J[...]
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[...]
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[...]
Civica to produce lower-cost insulin
Civica Rx, a nonprofit generic drug-maker with a pharmaceutical manufacturing plant under construction in Petersburg, plans to produce three forms of insulin priced at $30 per vial beginning in early 2024, a project that dovetails with a bill in Congress that would cap consumers’ out-of-pocket insulin costs. Civica’s 140,000[...]
FDA moves toward menthol cigarettes ban
The Food and Drug Administration said Thursday that it plans to ban sales of menthol cigarettes, a billion-dollar industry in which Philip Morris USA has a 9.4% market share. Philip Morris USA, a subsidiary of Henrico County-based Altria Group Inc., manufactures Marlboro menthol cigarettes among its other brands, but R.J. Reynol[...]
Martin Agency’s Robinson wins Ad Age CCO of the year
Danny Robinson, The Martin Agency’s chief creative officer, was named Ad Age’s chief creative officer of the year on Thursday, as the publication lauded him for having “revved up the agency’s creative output, turning out great ideas at a quicker pace across multiple categories and brands.” Among Ric[...]
