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Chesapeake office building sells for $11M
Investment group Gracestone Investments LLC has purchased an 81,318-square-foot office building in Chesapeake from GSI Inc. for $11 million, Cushman & Wakefield | Thalhimer announced July 5. The property, located at 850 Greenbrier Circle, is 100% leased to Canon U.S.A. Inc. Rob Wright of Cushman and Wakefield | Thalhimer bro[...]
Norfolk apartment community sells for $12.4M
Cleghorn Capital purchased a 104-unit apartment community in Norfolk from Israeli investment fund Valore for $12.8 million, Marcus & Millichap announced July 7. Valore at Southern Park, located at 7922 Old Ocean View Road, has three buildings, each with two stories, and was built in 1964 and renovated in 1999. The 104,944-sq[...]
William & Mary names new business school dean
William & Mary has named Todd Mooradian, who spent much of his career at the university, to lead its Raymond A. Mason School of Business beginning next month. The university announced the hire July 1. Mooradian has been dean of the University of Louisville’s College of Business since 2017 but previously spent 27 years [...]
Carsales.com to fully acquire Trader Interactive
Australian online auto sales forum Carsales.com Ltd. plans to acquire the remaining 51% of Norfolk-based Trader Interactive from Eurozeo and Goldman Sachs Asset Management for $839.14 million, the companies announced this week. Carsales.com bought 49% of Trader Interactive in August 2021 for $624 million and will now own the com[...]
FOR THE RECORD
Central Virginia The state’s fiscal 2023-24 budget, approved June 1, contains funding that will benefit future redevelopment of the Central Virginia Training Center site in Madison Heights. Republican Sen. Steve Newman requested $25 million in state money to annul outstanding bonds associated with CVTC, a former state facility for people with intellectual disabilities that closed […][...]
Incubator offers foothold for international firms
Minimal risk, long-term success. Chorus Intelligence Ltd., a British software company that sells products and services for law enforcement investigations, had these goals in mind when it set its sights on the U.S. sales market. With the help of a new Virginia Beach incubator focused on supporting international businesses, Chorus[...]
Dollar Tree overhauls C-suite
Chesapeake-based Fortune 500 discount retailer Dollar Tree is overhauling much of its C-suite leadership, the company announced Tuesday. Dollar Tree Stores Inc., which also owns the Family Dollar chain, is seeking permanent replacements for its chief operating officer, chief strategy officer, chief financial officer, chief infor[...]
Coffee roaster to invest $29M to expand Suffolk facility
Massimo Zanetti Beverage USA, the North American operating unit of the Italian coffee roaster Zanetti Beverage Group, will invest $29.1 million to consolidate and expand operations at its Suffolk roasting facility, a project expected to create 79 jobs, Gov. Glenn Youngkin announced Monday. “Massimo Zanetti Beverage USA’s[...]
Va. Beach native to lead Navy Region Mid-Atlantic
The next commander of Navy Region Mid-Atlantic is a former naval flight officer and Virginia Beach native. Rear Adm. Christopher “Scotty” Gray will take over for Rear Adm. Charles “Chip” Rock during a change of command ceremony scheduled at Naval Station Norfolk Thursday. Rock, who has commanded a region [...]
Williamsburg apartments sell for $100M
Alexandria-based real estate company Bonaventure has sold The Bend Arbordale apartments in Williamsburg for $100 million. Bonaventure sold the 289-unit apartment complex to Illinois-based The Inland Real Estate Group, Bonventure announced Friday. Located at 401 Bulifants Blvd., the community has two- and three-bedroom apartments[...]
Sentara taps new president and CEO
Sentara Healthcare has named Dennis Matheis to succeed Howard Kern as president and CEO, Sentara announced Friday. Kern announced his retirement earlier this year after spending more than 40 years at the Norfolk-based health care system. Matheis will take the helm on Sept. 1. He has served as president of Sentara Health Plans an[...]
Amtrak to boost service in Norfolk, Roanoke, Newport News
Amtrak will add a third daily departure from Norfolk and a second daily departure from Roanoke on its Northeast Regional route, while also bolstering train service in Newport News, all beginning July 11. The train already departs from Norfolk early in the morning and mid-morning, so the third departure will be in the early after[...]
