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7-Eleven portfolio sells for $19.7M
A portfolio of seven 7-Eleven Inc. gas and convenience locations around the commonwealth have been sold to affiliates of Hermosa Beach-based Equitas Investments LLC for $19.7 million, Cushman & Wakefield | Thalhimer announced Monday. The deal closed on Dec. 22 and includes seven freestanding, corporately leased 7-Eleven stor[...]
The Meridian Group buys 277 acres in Winchester for industrial park
Bethesda, Maryland-based real estate investment firm The Meridian Group has purchased 277 acres of land in Winchester along Insterstate 81 and has plans to develop an industrial park on it. The purchase price of the land was not disclosed and is not yet available from public land records. The Meridian Group acquired the propert[...]
Winchester industrial property sells for $12.2M
A 244,500-square-foot industrial property in Winchester sold for $12.2 million, Marcus & Milichap announced Wednesday. The property is located at 310 Tyson Drive and was sold by Harrisonburg-based InterChange Group Inc. to Washington, D.C.-based Ritz Banc Group. Christopher C. Dale, Robert Filley and Randall Heilig, with Mar[...]
Va. invests $722M in broadband expansion
Virginia Gov. Ralph Northam this week announced a state investment of $722 million in grants toward expanding high-speed internet service in 70 localities across the commonwealth. The governor says the funding will help Virginia achieve 90% of its universal broadband access goal by 2024. “Broadband access impacts every facet o[...]
Commercial real estate leasing roundup
Hampton Roads Daliza’s Dominican Beauty Salon leased 1,200 square feet of retail space at 980 J. Clyde Morris Blvd. in Newport News. Bob Saunders of Harvey Lindsay Commercial Real Estate handled this transaction. Audio Pros Inc. renewed its lease of 3,47 square feet of retail space at 894 East Little Creek Road in Norfolk. Kimberly […]
JMU student and alumni entrepreneurs get boost from program
The James Madison University Bluestone Seed Fund announced Monday that it would provide three startup companies with $5,000 each in its inaugural investment cycle. The Gilliam Center for Entrepreneurship manages the donor-backed fund. The three chosen startups are Gewd Botanicals, Handicans and Tow Ninja. Malique Middleton, a 20[...]
$31.5M Winchester turkey plant to create 111 jobs
Minnesota-based TFC Poultry LLC will invest $31.5 million to establish its second U.S. production facility in Winchester, a project expected to create 111 jobs, Gov. Ralph Northam announced Thursday. “Virginia’s strong agriculture sector continues to play a critical role in the success of our booming economy,” Northam sai[...]
Shenandoah Valley races to develop industrial sites
A flurry of recent industrial investment in the Shenandoah Valley has regional economic development officials eager to make new sites shovel-ready as companies put a premium on locations that will enable them to stand up operations as fast as possible. Fast-casual restaurant chain Cava’s September announcement that it will bui[...]
Canadian frozen food company to create 67 jobs in Warren County
Montreal-based Nature’s Touch Frozen Foods LLC will spend $40.3 million to expand in Warren County, creating 67 jobs, Gov. Ralph Northam announced Tuesday. Harrisonburg-based InterChange Group Inc. will build a 126,000-square-foot facility for Nature’s Touch. The company will import raw materials directly to the new facility[...]
Shenandoah Community Capital Fund to get $1M as part of federal program
The Shenandoah Community Capital Fund (SCCF) will receive $1 million in American Rescue Plan funding as part of the Community Navigator Pilot Program, the U.S. Small Business Administration announced Thursday. The program is an initiative meant to reduce barriers that small businesses, especially those owned by veterans, women, people from rural communities and communities of […]
Inspiration strikes in coworking space
It’s ironic that the Staunton Innovation Hub, a coworking center, opened its largest phase amid a global pandemic that sent many workers home, away from shared workspaces. “The pandemic certainly created its own set of challenges in terms of opening a coworking space,” says Peter Denbigh, who founded the hub with his ex-wi[...]
‘Frenzied’ housing market is normalizing
The residential real estate market frenzy in Virginia may be slowing to more normal conditions, the chief economist with Virginia Realtors said in a new report out this week. For the first time in more than a year, sales activity slowed in September, compared with a year ago. Last month, there were 13,079 home sales […]
