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Richmond’s Market Villas apartments sells for $3.9M
Richmond real estate developer Lynx Ventures sold Market Villas, a 31-unit adaptive reuse apartment property, to real estate asset management firm CJehn Partners LLC for more than $3.9 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Wednesday. The property located in downtown Richmond’s historic Shockoe Bottom neighborhood includes first-floor retail space in close […][...]
Port of Virginia begins $350M dredging project
The dredging project to make Virginia the East Coast’s deepest port has begun nearly two-and-a-half years earlier than expected, The Port of Virginia announced Monday. Dredging work started Dec. 2 to deepen the western side of Thimble Shoal Channel to 56 feet for commercial channels. After the dredging, the Norfolk Harbor will be able to […]
Herndon software company acquired by Florida tech distributor
Herndon-based software and cloud solutions company DLT Solutions was acquired by Clearwater, Florida-based technology distributor Tech Data Corp., Tech Data announced Monday. DLT is now a wholly owned subsidiary of Tech Data Corp. The financial terms of the acquisition were not disclosed. DLT Solutions provides cloud solutions for the U.S. public sector and will continue […]
McLean cloud network provider pays $55M for Dutch company
McLean-based cloud networking provider GTT Communications Inc. acquired Dutch telecommunications and IT provider KPN International for €50 million cash (or about $55.4 million), GTT announced Monday. The acquisition will add more than 400 strategic enterprise and carrier clients and will make GTT the preferred international network supplier for several hundred of KPN’s clients. It will […][...]
Chester shopping center sells for $18.6M
Bermuda Square shopping center in Chester has been sold for $18.6 million, according to Cushman & Wakefield | Thalhimer’s Capital Markets Group. Brentwood, Tennessee-based GBT Realty Corp. acquired the 84,064-square-foot property, its first investment in the Richmond market, on Nov. 26 from Giant Food Stores, the parent company of Martin’s grocery stores, according to Catharine […][...]
Henrico Jiffy Lube property sells for $2.2M
A private investor purchased a 4,210-square-foot property in Henrico County occupied by a Jiffy Lube for $2.2 million in late November, according Cushman & Wakefield | Thalhimer. The automotive maintenance and servicing shop will continue to operate on the property at 5710 W. Broad St. James Ashby IV of Cushman & Wakefield | Thalhimer handled […]
New EDA chief tries to do business amid scandal
There is no normal — even a new normal — for the executive director of the Front Royal-Warren Economic Development Authority, Douglas Parsons. Not while his predecessor, Jennifer McDonald, faces criminal charges and a civil suit alleging that she engineered a $21 million embezzlement scheme. A veteran in economic development[...]
Hampton Roads task force ponders region’s name and identity
Coastal Virginia, Tidewater, 757, Hampton Roads. What’s in a name, and what gives a region its identity and enhances its competitiveness? A task force of leaders from the Hampton Roads region is hammering away at those questions as they ponder whether Hampton Roads should continue to be called, well, Hampton Roads. Sometim[...]
U.Va. goes big with $5 billion capital campaign
The University of Virginia has officially kicked off the public phase of the largest-ever capital fundraising campaign by a Virginia university, with a goal to raise $5 billion by 2025. It may sound like a daunting challenge, but the university is already more than halfway to meeting its “Honor the Future” campaign goal. Lev[...]
Despite setbacks, Mountain Valley Pipeline inches forward
The Mountain Valley Pipeline is three years behind schedule, $2 billion over budget and has lost four required permits it needs to continue construction. The 4th U.S. Circuit Court of Appeals stopped work on the pipeline to review a lawsuit over one of those permits, and another suit over environmental violations ended with MVP [...]
Inova takes steps to create personalized health ‘ecosystem’
Editor’s note: This story has been updated. On the former Exxon Mobil campus in Fairfax County, Inova Health System plans to create an “innovation district” with treatments tailored to patients’ genetic makeups, environments and lifestyles. In September, the county Board of Supervisors approved updates to Inova&#[...]
New Appalachian School of Law dean faces challenges
Retired Supreme Court of Virginia Justice Elizabeth McClanahan grew up in the Buchanan County community of Garden Creek, about 12 miles from Grundy. “Grundy was the big city,” says McClanahan, who retired from the state’s highest court on Sept. 1. “It’s the county seat. It’s the only town in the county.�[...]
