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Franklin Investments LLC bought for $5.5 million the property at 12557 and 12607 Courthouse Highway in Smithfield, according to S.L. Nusbaum Realty Co.
The deal included 73 mobile homes and 327 ministorage units located on 48 acres.
The seller in the transaction was B&J Land Development Inc. and B&J Mini Storage.
S. L. Nusbaum’s Chris Zarpas and Sam Rapoport represented the buyer in the deal.
Richmond has named a new economic development director, but he’s no stranger to the state’s business community.
The city announced Monday that Leonard Sledge has been hired as director of economic development. Sledge has more than 13 years of experience in the field, including serving as director of economic development for the city of Hampton and at the College of William and Mary.
Most recently, Sledge was executive director of the Henry County Development Authority in Georgia. Henry County is part of the Atlanta metro region.
Sledge succeeds Lee Downey, now director of economic and business development for Hunton Andrews Kurth in Richmond. Jane Ferrara had been Richmond’s interim economic development director but has returned to her previous position as deputy director of economic development, according to Richmond spokesman Jim Nolan.
Sledge earned bachelor’s degrees from Morehouse College and Georgia Tech. He holds an MBA from the University of Phoenix. Earlier this year, he was named one of North America’s top 50 economic developers by Consultant Connect.
Castle Hill Gaming, a gaming software developer, is expanding its Albemarle County headquarters, a move expected to create 106 jobs over the next three years.
The project will involve a $1.3 investment. Castle Hill Gaming will receive funding from the Virginia Jobs Investment Program (VJIP) to support the hiring and training of new employees.
Based in Albemarle, Castle Hill employs data scientists, designers, developers, and mathematicians in creating gaming solutions. The company currently serves 25 Native American tribes in four states operating 75 casinos.
Castle Hill now has 55 employees, with 25 based in Albemarle.
“As a U.Va. graduate who grew up in Albemarle, I am proud to be creating jobs in the county,” Arthur Watson, CEO of Castle Hill Gaming, said in a statement. “Virginia has created an exciting opportunity in its approval of historic horse racing machines, and participating in this new industry will enable Castle Hill to create dozens of sales, service, and manufacturing jobs in Virginia.”
Watson said the company has developed historic horse racing machines, which have been independently tested and approved by Gaming Labs International as meeting Virginia standards.
Farmers Bank bought for $1.79 million the bank building at 821 N. Battlefield Blvd. in Chesapeake, according to Cushman & Wakefield | Thalhimer.
The 4,532-square-foot bank building sits on 0.92 acres.
Thalhimer’s Chris Rouzie represented the seller in the deal.
A Newport News shopping center has a new owner.
Riverside Hospital Inc. bought in April for $2.375 million the Brentwood Shopping Center at 10500 Jefferson Ave. in Newport News, according to a city property record. The 5.1-acre site is home to a 46,920-square-foot building.
The Riverside Health System has leased around 37,000 square feet at the property since 2004, says Tracey Dowling of Riverside Health System. Other tenants at the shopping center include a home goods store, a tax service and a kitchen remodeler.
Dowling says Riverside had a long-term lease on the property until 2026. The acquisition of the Jefferson Avenue property came about because Riverside exercised its first right of refusal to buy the property as part of its lease agreement, Dowling says.
Riverside uses the property for its residency programs for family medicine and obstetrics and gynecology (OB/GYN). The residency programs have graduated a combined 633 residents since their inceptions.
Riverside touts the residency programs as boons to community because physicians typically remain in the areas of the residency programs from which they graduate. The residency programs at Brentwood have partnered with organizations such as Peninsula Community Health Collaborative and Peninsula Food Bank on issues like nutrition and food insecurities for patients diagnosed with diabetes.
Harvey Lindsay Commercial Real Estate’s Bob Saunders and Clark Baldwin handled the transaction.
A retail property in Fredericksburg has changed hands.
1731 Central Park LLC bought for $2.825 million the 33,179-square-foot property at 1731 Carl D. Silver Parkway, according to Cushman & Wakefield | Thalhimer.
The entity bought the 2.82-acre site as an investment. The property is home to a Pottery Barn store. The seller in the deal was Mach II MCB Silver Portfolio Owner One LLC.
Thalhimer’s Jamie A. Scully represented the buyer in the deal. Angelo Ignudo of Thalhimer was named portfolio manager for the property.
A Northern Virginia property has sold in an eight-figure deal.
Consolidated-Tomoka Land bought for $21.25 million 1000 E. Broad St. in Falls Church, according to KLNB.
Andy Stape, KLNB Retail Investment Sales, Michael Pratt of KLNB Retail Advisory, and Peter Snell of KLNB Single Tenant Net Lease Group represented the seller and procured the buyer.
“Amazon really turned up the heat on Northern Virginia commercial real estate with the announcement of HQ2,” said Stape in a press release. “Buyers are looking for strategic investments with long-term value.”
The seller of the 46,000-square-foot building was East Broad Street LLC. The building sits on 3.087 acres. It is currently occupied by a 24 Hour Fitness, which has been a tenant since 2012. There are nine years on 24 Hour Fitness’ current lease, which includes rent escalations.
The property is zoned for up to four stories and multiple uses including residential.
A Fairfax County multifamily property has lined up new financing.
Berkadia announced on Wednesday $63.17 million in financing for a multifamily property in Falls Church called PeachTree of McLean at 2042 Peach Orchard Drive.
Jonathan Pratt, a Berkadia director in Washington, D.C., secured the loan on behalf of Virginia-based Erkiletian Cos. The deal closed May 31.
Erkiletian plans to improve the property’s water and energy efficiency by 30%.
PeachTree has one-, two- and three-bedroom units. The property is near Tysons Center, Route 7, and interstates 66 and 495.
| Donor | Location | Donation recipient | Donation amount |
|---|---|---|---|
| The Harvest Foundation | Martinsville | Martinsville-Henry County Economic Development | $2,101,672 |
| The Harvest Foundation | Martinsville | Henry County | 1,460,450 |
| The Mary Morton Parsons Foundation 1 | Richmond | Virginia Commonwealth University | 1,000,000 |
| The Joseph and Robert Cornell Memorial Foundation 1 | Charlottesville | University of Virginia | 1,000,000 |
| The Soho Center 1 | Charlottesville | University of Virginia | 1,000,000 |
| The Harvest Foundation | Martinsville | Martinsville-Henry County Coalition for Health and Wellness | 882,527 |
| The Harvest Foundation | Martinsville | Henry County Public Schools | 707,780 |
| The Williamsburg Health Foundation | Williamsburg | Williamsburg-James City County Public School Division | 650,000 |
| The Harvest Foundation | Martinsville | Southern Virginia Recreation Facilities Authority | 600,000 |
| Wythe-Bland Foundation | Wytheville | Wytheville Community College | 480,150 |
| Potomac Health Foundation | Woodbridge | Sentara Northern Virginia Medical Center | 476,300 |
| Potomac Health Foundation | Woodbridge | The Arc of Greater Prince William/INSIGHT Inc. | 421,050 |
| The Williamsburg Health Foundation | Williamsburg | Virginia Health Care Foundation | 400,000 |
| Wythe-Bland Foundation | Wytheville | Brock Hughes Medical Clinic | 381,000 |
| The Harvest Foundation | Martinsville | Patrick Henry Community College Educational Foundation | 361,802 |
| Robins Foundation | Richmond | Partnership for Families Northside | 360,000 |
| The Cameron Foundation | Petersburg | Virginia Commonwealth University Foundation | 350,382 |
| Potomac Health Foundation | Woodbridge | Greater Prince William Community Health Center | 300,000 |
| Jack Kent Cooke Foundation | Lansdowne | Northern Virginia Community College Educational Foundation | 300,000 |
| The Harvest Foundation | Martinsville | Piedmont Community Services | 293,645 |
| The Cameron Foundation | Petersburg | Central Virginia Health Services | 266,000 |
| The Cameron Foundation | Petersburg | Virginia's Gateway Region | 250,000 |
| The Cameron Foundation | Petersburg | Friends of the Lower Appomattox River Inc. | 250,000 |
| Massey Foundation 2 | Richmond | Virginia Commonwealth University | 250,000 |
| Potomac Health Foundation | Woodbridge | NOVA ScriptsCentral Inc. | 221,410 |
| Wythe-Bland Foundation | Wytheville | Bland County Public Schools | 206,900 |
| E. Stuart James Grant Charitable Trust | Danville | Virginia Military Institute Foundation | 205,000 |
| The Cameron Foundation | Petersburg | YMCA of Greater Richmond | 200,000 |
| Potomac Health Foundation | Woodbridge | Youth for Tomorrow | 200,000 |
| Wythe-Bland Foundation | Wytheville | HOPE Inc. | 198,000 |
| The Harvest Foundation | Martinsville | Piedmont Virginia Dental Health Foundation | 192,246 |
| Potomac Health Foundation | Woodbridge | Prince William Area Free Clinic | 190,029 |
| Potomac Health Foundation | Woodbridge | Virginia Center for Health Innovation | 182,452 |
| Potomac Health Foundation | Woodbridge | Inova Health Systems | 166,204 |
| Wythe-Bland Foundation | Wytheville | Bland Ministry Center | 166,000 |
| Wythe-Bland Foundation | Wytheville | Mt. Rogers Health District | 162,300 |
| Potomac Health Foundation | Woodbridge | Lloyd F. Moss Free Clinic | 155,000 |
| Potomac Health Foundation | Woodbridge | Pathway Homes | 150,000 |
| Potomac Health Foundation | Woodbridge | Northern Virginia Family Service | 147,000 |
| Potomac Health Foundation | Woodbridge | National Coalition of 100 Black Women | 144,000 |
| Potomac Health Foundation | Woodbridge | The House Inc. | 127,000 |
| Potomac Health Foundation | Woodbridge | The House Inc. | 127,000 |
| Beazley Foundation Inc. | Portsmouth | Christopher Newport University | 125,000 |
| Beazley Foundation Inc. | Portsmouth | Nansemond Suffolk Academy | 125,000 |
| Potomac Health Foundation | Woodbridge | Virginia Foundation for Community College Education | 125,000 |
| Robins Foundation | Richmond | Communities in Schools of Richmond Inc. | 125,000 |
| Wythe-Bland Foundation | Wytheville | Wythe County Public Schools Foundation for Excellence | 120,000 |
| The Cameron Foundation | Petersburg | Virginia Local Initiative Support Corp. | 105,000 |
| Wythe-Bland Foundation | Wytheville | Bland County Medical Clinic | 104,000 |
| The Cameron Foundation | Petersburg | Battersea Foundation | 100,000 |
| The Cameron Foundation | Petersburg | The Philanthropic Initiative | 100,000 |
| Jack Kent Cooke Foundation | Lansdowne | Loudoun Education Foundation | 100,000 |
1 $1 million to $3 million
2 $250,000 to $999,000
Sources: Virginia Business survey, research
| Donor | Location | Donation recipient | Donation amount |
|---|---|---|---|
| Landmark Media Enterprises | Norfolk | Old Dominion University | $5,000,000 |
| Children's Hospital Foundation 1 | Richmond | Virginia Commonwealth University | 3,000,000 |
| Altria Group Inc. | Richmond | Communities In Schools | 2,175,000 |
| Sentara Healthcare and Optima Health | Norfolk | Virginia Community Healthcare Assciation | 2,000,000 |
| Sentara Healthcare and Optima Health | Norfolk | Virginia Association of Free and Charitable Clinics | 1,500,000 |
| Priority Automotive Group | Chesapeake | Old Dominion University | 1,500,000 |
| Altria Group Inc. | Richmond | John Tyler Community College Foundation | 1,330,000 |
| Altria Group Inc. | Richmond | Altria Companies Employee Community Fund | 1,100,000 |
| Smithfield Foods | Smithfield | Isle of Wight Public Schools | 1,014,262 |
| Altria Group Inc. | Richmond | Communities In Schools | 1,000,000 |
| Altria Group Inc. | Richmond | The Maggie Walker Land Trust | 1,000,000 |
| East West Communities Foundation Inc. 2 | Midlothian | Virginia Commonwealth University | 1,000,000 |
| Dominion Energy | Richmond | American Civil War Museum | 700,000 |
| Bank of America | Charlotte, N.C. | Eastern Virginia Medical School | 500,000 |
| Dominion Energy | Richmond | Colonial Williamsburg Foundation | 500,000 |
| Altria Group Inc. | Richmond | United Service Organizations Inc. | 485,000 |
| Ferguson Enterprises | Newport News | Christopher Newport University | 450,000 |
| Altria Group Inc. | Richmond | University of Virginia | 420,000 |
| Altria Group Inc. | Richmond | Higher Achievement Program Inc. | 405,000 |
| Altria Group Inc. | Richmond | Virginia Museum of Fine Arts Foundation | 350,000 |
| Dominion Energy | Richmond | Richmond Performing Arts Alliance | 345,425 |
| TowneBank | Portsmouth | Virginia Sports Hall of Fame | 300,000 |
| Altria Group Inc. | Richmond | NextUp RVA | 300,000 |
| Altria Group Inc. | Richmond | Virginia BioTechnology Research Park | 300,000 |
| Norfolk Southern Corp. | Norfolk | United Way of South Hampton Roads | 262,900 |
| Altria Group Inc. | Richmond | Virginia Historical Society | 250,000 |
| Dominion Energy | Richmond | J. Sargeant Reynolds Community College Educational Foundation Inc. | 250,000 |
| Dominion Energy | Richmond | Metropolitan Richmond Sports Backers | 250,000 |
| Dominion Energy | Richmond | Young Men's Christian Association of Greater Richmond | 250,000 |
| Altria Group Inc. | Richmond | Greater Richmond SCAN | 249,110 |
| Altria Group Inc. | Richmond | Blue Stone Education Foundation | 244,000 |
| Altria Group Inc. | Richmond | Boulder Crest Retreat Foundation | 210,000 |
| Wells Fargo | San Francisco | United Way Worldwide | 200,000 |
| Chippenham Johnston-Willis Medical Center | Richmond | John Tyler Community College Foundation | 193,517 |
| Smithfield Foods | Smithfield | Feed More | 180,000 |
| Dominion Energy | Richmond | Virginia Museum of Fine Arts Foundation | 175,000 |
| Ferguson Enterprises | Newport News | Colonial Williamsburg Foundation | 165,000 |
| Wells Fargo | San Francisco | La Cocina Virginia | 157,500 |
| Wells Fargo | San Francisco | National Council on Aging | 150,000 |
| Wells Fargo | San Francisco | Virginia Foundation for Community College Education | 150,000 |
| Dominion Energy | Richmond | NextUp RVA | 150,000 |
| Dominion Energy | Richmond | Virginia Tech Foundation Inc. | 150,000 |
| Norfolk Southern Corp. | Norfolk | ForKids Inc. | 150,000 |
| Riddleberger Brothers Inc. / Comfort Systems USA | Mount Crawford | James Madison University | 150,000 |
| TowneBank | Portsmouth | For Kids Inc. | 140,000 |
| Ferguson Enterprises | Newport News | Peninsula Community Foundation | 140,000 |
| TowneBank | Portsmouth | Christopher Newport University | 125,000 |
| TowneBank | Portsmouth | VA Capitol Foundation | 125,000 |
| Ferguson Enterprises | Newport News | An Achievable Dream | 125,000 |
| Dominion Energy | Richmond | Virginia Commonwealth University Foundation | 125,000 |
| Wells Fargo | San Francisco | Foundation Center doing business as Candid | 120,000 |
| Wells Fargo | San Francisco | Better Housing Coalition | 105,000 |
| TowneBank | Portsmouth | An Achievable Dream | 100,000 |
| TowneBank | Portsmouth | Children's Hospital of The King's Daughters | 100,000 |
| TowneBank | Portsmouth | Chrysler Museum of Art Capital Campaign | 100,000 |
| TowneBank | Portsmouth | Fort Monroe Foundation | 100,000 |
| TowneBank | Portsmouth | Virginia Aquarium & Marine Science Center | 100,000 |
| TowneBank | Portsmouth | Virginia Arts Festival | 100,000 |
| TowneBank | Portsmouth | YMCA of Greater Richmond | 100,000 |
| Ferguson Enterprises | Newport News | Hampden-Sydney College | 100,000 |
| Ferguson Enterprises | Newport News | SkillsUSA | 100,000 |
| Wells Fargo | San Francisco | American Indian Higher Education Consortium | 100,000 |
| Wells Fargo | San Francisco | United Way of Greater Richmond & Petersburg | 100,000 |
| Capital One 3 | Tysons | Wolf Trap | 100,000 |
| Northrop Grumman Foundation 3 | Falls Church | Wolf Trap | 100,000 |
| Dominion Energy | Richmond | Lewis Ginter Botanical Garden | 100,000 |
| Dominion Energy | Richmond | Richmond Parade Inc. | 100,000 |
| Dominion Energy | Richmond | Venture Richmond Inc. | 100,000 |
| Dominion Energy | Richmond | Virginia Early Childhood Foundation | 100,000 |
| Dominion Energy | Richmond | Virginia Foundation for Independent Colleges | 100,000 |
1 $3 million+
2 $1 million to $2.9 million
3 $100,000 to $249,999
Source: Virginia Business survey and research
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