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Richmond convenience store operator to acquire 61 locations in Mich., Ohio
Richmond-based convenience stores owner and operator GPM Investments LLC announced Monday it has signed an agreement to acquire 61 ExpressStop convenience stores with gas stations in Michigan and Ohio. Financial terms of the transaction were not disclosed. The acquisition will add to GPM’s existing 165 stores in Michigan and nine in Ohio. GPM Investments is […]
Richmond property sells for $1.9M, leased to Starbucks
A Richmond property located at 2305-2309 West Broad Street sold for $1.9 million and was subsequently leased by Starbucks Corp. Lee Hall Plaza Inc. purchased the property, which includes 3,256 square feet sitting on 0.55 acres of land, from J.W. Willis. The parcel is located across the street from the Virginia Department of Motor Vehicles’ […]
Chester strip mall sold for $6M
Chester’s The Shoppes at River Forest, a 30,720-square-foot strip mall anchored by a Wal-Mart, was purchased on Feb. 26 for $6 million. Raleigh, North Carolina-based PGP River Forest purchased the property from Bogese Cos., a Richmond-based real estate development group. At the time of the sale, the center was 82% leased to tenants that include […]
Ministry buys Chesterfield building for $1.2M
Chesterfield County-based Mountain Movers Ministry has purchased a building near the intersection of Hull Street and Courthouse roads for $1.175 million. The ministry will relocate to 3300 Old Courthouse Road and occupy the entirety of the 8,942-square-foot building. The property is situated on 7 acres. Gray Bryant, an associate[...]
U.Va. gets $5M gift to establish scholarship for PVCC students
An anonymous $5 million gift to the University of Virginia will be used to provide scholarships to Piedmont Virginia Community College students who wish to transfer to the university, U.Va. President Jim Ryan announced Friday. The endowed fund will provide scholarships to PVCC students who have been selected as U.Va. University Achievement Award recipients. The […]
Dominion joins initiative to create electric vehicle charging network
Dominion Energy Inc. and five other major utilities announced a plan Tuesday to create a network of charging stations for electric vehicles across major highway systems stretching from Washington, D.C., to Chicago to West Texas and the Florida Heartland. The newly announced Electric Highway Coalition — made up of American Elec[...]
Capital Square names chief technology officer
Henrico County-based real estate investment company Capital Square announced Tuesday that Jeffrey Blount has been named the company’s chief technology officer. Prior to joining Capital Square, Blount served as virtual chief information officer at Glen Allen-based office IT services and equipment supplier Cobb Technologies. “[...]
U.Va. Community Credit Union names chief lending officer
The University of Virginia Community Credit Union announced Monday it has hired Joe Raichel as its first chief lending officer. With more than 23 years of experience in the financial services industry, Raichel most recently served as a senior vice president with Wells Fargo. He will report directly to U.Va. Credit Union Presid[...]
Richmond council clears way for $325M VCU Health project
Richmond City Council approved the sale of the city’s Public Safety Building on Monday, clearing the way for a $325 million VCU Health System medical office tower and multi-use project downtown. Council members unanimously approved the 3-acre property’s $3.5 million sale to Capital City Partners LLC, a collaboration [...]
Petersburg apartments sell for $2.9M
Landmark Apartments, a 53-unit affordable housing property in Petersburg, has been purchased by Mercer Street Partners for $2.867 million. Landmark, located at 450 Van Buren Drive, was originally developed in 1983 using the U.S. Department of Housing Development’s (HUD) Project-Based Section 8 program for subsidized housing. The buyer, Mercer Street Partners, acquired the property subject […][...]
Richmond office building sells for $29.5M
An office building in downtown Richmond has sold for $29.5 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Friday. The 140,573-square-foot Edgeworth Building is located at 2100 East Cary Street and was once a tobacco factory. It is 95% leased to Hirschler, RK&K, Ernst & Young and HKS Arch[...]
Moving forward
In a difficult year haunted by the coronavirus pandemic, the Central Virginia region persevered — and in some cases made economic progress. Henrico County led all other localities with a blockbuster endorsement of a $2.3 billion project, GreenCity, that would promote environmental sustainability and bring a 17,000-seat arena t[...]
