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Richmond office tower sells for $77M
Richmond’s 15-story Riverside on the James office tower has sold for $77 million, McLean-based American Real Estate Partners LLC (AREP) announced on April 6. Located at 1001 Haxall Point, the 263,752-square-foot building was acquired from AREP by New York-based Opal Holdings and is 95.3% leased. The building’s main t[...]
Henrico industrial facility purchased for $7.8M
On April 7, Richmond-based commercial real estate investment firm Lingerfelt CommonWealth Partners LLC announced it had acquired an industrial facility in Henrico County for $7.8 million. Located at 4300 Carolina Ave., the 223,479-square-foot industrial facility is located in the Richmond Distribution Center complex near Richmon[...]
Rustburg shopping center sells for $4.7M
Rustburg Marketplace, a 46,700-square-foot grocery-anchored shopping center at 1051 Village Highway in Rustburg, has sold for $4.7 million. Anchored by a Food Lion, the shopping center’s other major tenants include Family Dollar and Virginia ABC. The Kent Mall LLC purchased the strip mall, which sits on 8.55 acres, from Ru[...]
Kings Dominion sets minimum wage at $13 for seasonal workers
Kings Dominion, the Doswell amusement park, has set its minimum wage for seasonal employees at $13 per hour, it announced Thursday. Previously, the base wage was $9.25. The park, owned by Cedar Fair Entertainment Co., expects to hire 2,100 seasonal workers before reopening May 22, and it also is hiring 80 new full-time positions[...]
MCV Foundation names director of marketing and communications
Medical College of Virginia Foundation has tapped Eric Peters as director of marketing and communications, promoting him from other marketing communications roles he’s held there since 2017. Peters is responsible for the marketing and communications strategies for MCV Foundation, which manages $800 million in assets. The f[...]
Genworth kills long-delayed $2.7B acquisition
Henrico County-based Fortune 500 insurer Genworth Financial Inc. announced Tuesday that it has formally terminated its long-delayed $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. The news follows a Jan. 5 announcement by Genworth that it was putting a hold on the deal, first announced in 2016. At the same time, the company […]
Lynchburg’s BWXT wins $690M contract extension
The U.S. Department of Energy has awarded a contract extension to Lynchburg-based nuclear components and fuel supplier BWX Technologies Inc. (BWXT) worth up to $690 million, the company announced today. BWXT has worked with Irving, Texas-based engineering and construction firm Fluor Corp. on the project, an effort to decontaminate and decommission the former Portsmouth Gaseous […]
Carvana proceeds with $25M Chesterfield facility
After putting its plans in neutral, online used car retailer Carvana announced Tuesday that it plans to break ground this quarter on a $25 million, 191,000-square-foot vehicle inspection and reconditioning facility in Chesterfield County. The project could bring more than 400 jobs to the county, economic development officials sa[...]
The Brink’s Co. purchases largest private ATM services provider for $213M
Henrico County-based The Brink’s Co. has purchased PAI Inc., the largest privately held ATM services provider in the nation, for $213 million, the company announced Tuesday. The closing date was April 1, and the acquisition was financed using available cash and Brink’s existing credit facility, according to a news release. Brink’s, which offers secure cash […]
Virginia sees major housing inventory shortage
Across Virginia and the nation, real estate experts are singing the same tune: We’re facing a major housing inventory shortage that shows no signs of letting up soon. “Inventory is down about 44% compared to a year ago and it’s about a third of what it was five years ago,” says Lisa Sturtevant, chief economist [&[...]
Dominion’s Tom Farrell dies one day after retiring
Thomas F. Farrell II, the longtime chairman, president and CEO of Dominion Energy Inc., died Friday, one day after retiring as the Richmond-based Fortune 500 utility’s executive chair and top leader. Farrell, 66, was battling cancer, according to an announcement from Dominion. “Tom was a peerless mentor and outstandi[...]
Blue Ridge Bank hires first chief development officer
Steve Farbstein has left his position at Cornerstone RPO to become Blue Ridge Bank’s first chief development officer, the bank recently announced. Farbstein will be responsible for marketing, employee development and growing and maintaining lines of revenue at the bank, a subsidiary of Charlottesville-based Blue Ridge Bank[...]
