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Atlantic Union completes $507M purchase of American National
Richmond-based Atlantic Union Bankshares completed its acquisition Monday of Danville-based American National Bankshares, parent company of American National Bank and Trust. Based on the $35.31/share closing price Thursday of Atlantic Union common stock, the transaction value was approximately $507 million, according to Atlantic[...]
Fort Monroe Authority exec director to retire
G. Glenn Oder is retiring as executive director of the Fort Monroe Authority in October, the authority announced Friday. Oder has led the FMA for the past 12 years after leaving the General Assembly, where he served as a state delegate from 2002 to 2012, representing the 94th District in the House of Delegates. “On [&helli[...]
Maryland & Virginia Milk Producers CEO to retire
Jay Bryant, CEO of Herndon-based Maryland & Virginia Milk Producers Cooperative Association (MDVA), is retiring at the end of this year, and Jon Cowell, MDVA’s current chief financial officer, will succeed him, the cooperative announced Friday. Bryant has worked at the MDVA, a cooperative of more than 900 dairy farm fa[...]
Chesapeake strip mall goes for $3.15M
A 7,800-square-foot retail strip center in Chesapeake sold for $3.15 million, according to a March news release from S.L. Nusbaum Realty. Located at 1508 Sam’s Circle, Battlefield Shops has five tenants. It is shadow anchored by Walmart, Sam’s Club, At Home and Dollar Tree stores. Battlefield Freedom Wash sold the pr[...]
Hotel in Salem changes hands for $3.1M
A Days Inn in Salem sold for $3.1 million on March 26. Located at 1535 E. Main St., the two-story hotel has 70 rooms. It was built in 1974. Evergreen Hotels purchased the property from Devkison LLC, according to property records. Milin Mehta, Chase Dewese, Jack Davis and Joce Messinger with Marcus & Millichap’s Charlot[...]
Apartment buildings in Portsmouth sell for $2.4M
A 17-unit apartment property in Portsmouth sold for $2.4 million, Marcus & Millichap announced Tuesday. Built in 1987, Effingham Green Condos has 17 two-bedroom, one-bathroom units across two buildings on 2 acres. The property is located at 1007 Green St. Capps Equity sold the property to Nouveaux Effingham. Justin Ferguson,[...]
Henrico gets federal funding jolt for EV charging stations
People shopping for a new car or truck often hesitate to buy an electric vehicle because there aren’t many public charging stations. However, that situation will improve in Henrico County, which was awarded about $1.45 million in January through the U.S. Transportation Department’s Charging and Fueling Infrastructure[...]
Henry County airport expansion underway
Blue Ridge Regional Airport in Henry County has completed a larger apron for airplane parking and will soon extend its 5,002-foot runway to 6,000 feet — long enough to accommodate executive jets. A new terminal is also planned as part of a package of about $30 million in upgrades for the airport, according to Jason […]
Slow and steady
The Lynchburg region has seen the slowest job growth of any metro area in Virginia over the past three years, according to economic analyses, and it typically has a higher unemployment rate than the state average. But there’s more to the story, some officials say. For instance, the Lynchburg region saw 23 inquiries from ec[...]
Capital One-Discover deal faces federal scrutiny
McLean-based Capital One Financial announced plans in February to buy Discover Financial Services for $35.3 billion in an all-stock deal that would mark Capital One’s largest ever acquisition and make it the nation’s biggest credit card lender. The transaction is expected to close in late 2024 or early 2025, accordin[...]
April 2024 FOR THE RECORD
CENTRAL Charlottesville-based geospatial analytics firm Astraea was acquired by Nuview, a Florida-based company developing a satellite imaging constellation, the companies announced Feb. 27. Financial terms of the deal were not available. Founded as a for-profit benefit corporation in 2016, Astraea applies data science and artificial intelligence to analyze imaging and sensor data gathered from Earth-observing […][...]
Buchanan County expands industrial park
Economic development is booming inside the Southern Gap Industrial Park in Buchanan County, where the county industrial development authority is spending $4 million to develop a new shell building and a 20-acre industrial site. With support from the Virginia Coalfield Economic Development Authority, the park has become a hub for[...]
