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Rockingham County produce stand expands to 27-acre facility
Mount Crawford-based Overlook Produce and Farm Adventures will invest more than $850,000 to construct a produce packing facility and retail market pavilion on a 27-acre site in Rockingham County, according to an announcement Wednesday from Virginia Gov. Ralph Northam. Located off Interstate 81’s Exit 240, the facility will replace Overlook Produce’s roadside produce stand and […][...]
Mary Baldwin University announces $5 million gift
William H. “Bill” Goodwin Jr. and his wife, Alice, have made a $5 million gift to Mary Baldwin University to fund the launch of a new hybrid doctor of nursing practice degree program. The prominent Richmond philanthropic couple, who have given tens of millions of dollars to charitable causes, said in a statement that they [&[...]
Hampton Roads bank receives regulatory approval
Integrity Bank for Business, a new bank forming in Virginia Beach, has received all necessary regulatory approvals to open for business as a bank, it announced Wednesday. The approvals obtained include: the issuance of a Virginia state bank charter from the Virginia State Corporation Commission and the Virginia Bureau of Financi[...]
Hampden-Sydney receives $12M gift from alum’s estate
Hampden-Sydney College announced Tuesday it has received a $12 million gift — the second-largest in the history of the 245-year-old private men’s college — from the estate of a 1937 graduate and his wife. The estate of M. Blair Dickinson Jr. and Sarah “Lucile” Lawton Dickinson bequeathed the gift to the college, which Blair Dickinson […]
International logistics company announces $61M Norfolk expansion
Katoen Natie Norfolk Inc., a plastics and polymers warehousing and distribution company, plans to expand its operation in Norfolk, investing $61 million and creating 35 jobs, the governor’s office announced Tuesday. A subsidiary of Belgian logistics service provider Katoen Natie, the Norfolk company was established in 2011 at the former Ford Motor Co. assembly plant […]
Nine newsroom employees to be laid off at Roanoke Times
Nine newsroom employees at The Roanoke Times were notified of their pending layoffs Monday by parent company Lee Enterprises Inc., according to the newspaper’s local newsroom union and multiple staff writers who spoke with Virginia Business. The layoffs, set to take effect April 23, would cut the editorial staff to 37 positions, a nearly 20% […]
VCU Health distribution facility sells for $8M
A Henrico County property fully leased by VCU Health was purchased by an undisclosed investment group for $8.075 million on April 7. Located at 3008 Mechanicsville Turnpike, the 89,931-square-foot property houses nonpharmaceutical medical supplies and equipment for VCU Health. Since mid-February, the property, a former Pepsi dis[...]
Falls Church retail center to be renovated, rebranded
Falls Plaza, a 10-acre retail center in Falls Church, will begin construction on a renovation mid-April, and will be renamed and rebranded as Birch & Broad. Located at 1200 W. Broad St., the 144,000-square-foot community shopping center will see a façade renovation, new signage, enhanced landscaping, decorative lighting and[...]
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[...]
Chesapeake senior community acquired for $57.75M
Chesapeake Crossing, a 597-unit mixed-income senior housing community in Chesapeake, has been purchased by Los Angeles-based Standard Communities, the affordable housing division of Standard Companies. According to Wink Ewing, managing director of investment sales for NorthMarq, Chesapeake Crossing sold for $57.75 million. The total capitalization of the transaction was approximately $68 million. Located at 1921 […][...]
Construction to start in May on $66M Pinnacle apartments in Va. Beach
Virginia Beach-based Breeden Co. has scheduled a May 7 groundbreaking date for The Pinnacle, its upcoming $66 million luxury apartment complex at the Oceanfront. Located at 521 31st St., The Pinnacle will offer 240 one-, two- and three-bedroom apartments on the site of a former Farm Fresh grocery store that closed in 2018. Const[...]
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[...]
