EVB purchases land from Media General in Hanover County

EVB, a Tappahannock-based bank serving eastern and central Virginia, has purchased a tract of land in the Atlee Station area of Hanover County from Media General.

“We have purchased the land,” said Joe James, a senior executive vice president and EVB’s chief operating officer. While sources in the commercial real estate community said the land was being considered for a possible corporate headquarters relocation, James said, “We have no specific plans for the use of the property. There have been no decisions made on the use of the property.”

Media General subdivided a parcel of its land, and James said EVB bought seven acres from the 18-acre tract.  Jeff Cooke, a senior vice president with Cushman & Wakefield | Thalhimer in Richmond and the broker on the deal, said the transaction closed a few days ago.  He would not disclose the price.

“We did a site search for about a year and helped them find this place,” Cooke said.

EVB has 21 full-service branches in eastern Virginia. A community bank, it targets small- to medium-sized businesses and consumers.  Its parent company, Eastern Virginia Bankshares Inc., recently acquired Newport News-based Virginia Company Bank.  At the time of the deal last fall, Virginia Company Bank had three branches in Hampton, Newport News and Williamsburg.