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.Com Properties V LLC has purchased the Carroll Tire property in Roanoke from L&M Properties LLC from for $1.8 million. The 51,100-square-foot distribution facility on 1.9 acres is located at 2428 Patterson Ave.
Boyd Johnson of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the seller. According to Thalhimer, the buyer purchased the property as an investment.
The Launch Place announces $250,0000 investment in iScribes
Danville-based The Launch Place announced Friday it has invested $250,000 in iScribes, a mobile application that makes it easier for doctors to record encounters with patients.
The application takes notes for health-care providers while they’re interacting with patients. Doctors then review and approve the notes. The Durham, N.C.-based company says physicians spend 40 percent of their time documenting patient encounters, which can reduce time for patient care.
“Virtual medical scribes enable providers to conduct patient encounters naturally and efficiently with exceptionally high-quality documentation,” Dr. Jared Pelo, co-founder and CEO of iScribes, said in a statement.
The Launch Place led the syndication of this deal. Triangle Angel Partners II LLC (TAP II), an angel investment fund based in North Carolina’s Research Triangle Park co-invested in the deal, bringing the total investment to $410,000.
The Launch Place aims to assist with entrepreneurship and business development in Danville, Pittsylvania County and Caswell County, N.C. It offers businesses funding, consulting, and residential and office subsidies.
Dr. Jared Pelo photo courtesy The Launch Place.
Roanoke-Blacksburg Technology Council names new CEO
The Roanoke-Blacksburg Technology Council (RBTC) and Roanoke Blacksburg Innovation Network have chosen Robert McAden as their next president and CEO, effective March 20.
McAden has been a member of the council since its inception and has served on the board’s executive team for more than three years, becoming board chair in 2015. He previously led the Blacksburg operations of cloud-computing company Rackspace.
McAden has lived in Roanoke for 20 years. He has been active in the region’s startup community, co-chairing Startup Weekend Roanoke, judging many startup competitions and serving on advisory boards for NuSpark and RAMP, a technology business accelerator in the region.
“With the opening of RAMP this summer, the creation of an innovation district in Roanoke, and the growth of our technology sector, we are in the midst of a critical time for our technology and innovation ecosystem. I am eager to work with others across our region to ensure the future vitality of our valleys.” McAden said in a statement.
The technology council conducted a nationwide search after Jonathan Whitt resigned in October.
“Robert is no stranger to the region or to our RBTC board,” said Susan Short of the executive committee of the RBTC Board of Directors. “He knows our community, he understands the innovation ecosystem of the two valleys, and he clearly comprehends the aspirations of our region. He has been a key player in identifying and aligning the region's technology assets as well as connecting the technology community to regional resources. In his former role with Rackspace as well as his extensive contributions to the RBTC board, this familiar face will work closely with leaders throughout the region to advance the mission of an emerging innovation ecosystem.”
Armada Hoffler Properties to build $100 million student apartment project in downtown Charleston
Armada Hoffler Properties Inc. said Thursday that the Virginia Beach-based REIT will team with Spandrel Development Partners to develop and build $100 million of new student apartments in downtown Charleston, S.C. Armada will serve as both majority partner and general contractor in the new joint venture.
According to the real estate investment trust, the Charleston peninsula is home to more than 20,000 students. Current enrollment at the College of Charleston approaches about 12,000 students. With two assets offering a variety of amenities and price points, Armada Hoffler expects to deliver more than 600 new beds within one mile of the College of Charleston in time for the fall 2019 semester. With the two projects, Armada Hoffler said it would be the largest private developer of student apartments in Charleston. The company expects to break ground later this year.
“With its high barrier-to-entry and net market deficit of more than 5,000 beds, new student housing product in downtown Charleston fits perfectly into our development and investment strategy,” Louis S. Haddad, Armada Hoffler Properties president and CEO, said in a statement. “We look forward to meeting the needs of the underserved student population on the peninsula, and are excited to once again team with a partner who has the local expertise to quickly entitle prime sites in one of our target markets.”
Spandrel Development Partners is a multidisciplined equity real estate development firm with offices in New York City and Charleston. It focuses on the multifamily, student, hospitality, industrial and retail market segments.
Dominon expanding ‘Solar for Schools’ program
As Dominion continues to expand its solar power infrastructure in Virginia, the company said it is increasing the number of sites for its Solar for Schools program. Sponsored by the Dominion Foundation, the program allows K-12 students the opportunity to generate electricity from a solar array installed on school grounds.
The foundation is seeking applications until April 28 from K-12 public schools or museums with STEM (science/technology/engineering/math) programming in areas served by Dominion Virginia Power. It will select six organizations to receive a 1.2 kilowatt photovoltaic system that converts sunlight into electric power.
During the 2015-16 school year, four schools participated in the pilot program. Each solar array will generate enough electricity to power 18 desktop computers.
Dominion is collaborating with the National Energy Education Development (NEED) Project for the program. NEED will provide technical support, install the panels, prepare educational materials and train teachers. Recipients will be announced in September. For more information or to apply, visit www.dom.com/solarschools.
The expansion of Solar for Schools occurs as Dominion's solar investment in Virginia approaches $1 billion. The company has a dozen solar projects under construction, enough to power 100,000 homes.
Deschutes Brewery hires East Coast field marketing manager
Deschutes Brewery has hired Caroline Macdonell as its field marketing manager for the East Coast.
She will be located in Roanoke, where the Oregon-based company is building an East Coast brewery. Macdonell is responsible for acting as a liaison with the local community, local officials and the greater Deschutes Brewery team. She will manage marketing plans, programs, sponsorships and events in the region, while driving sales and company goal integration.
Angela Korish, experiential marketing manager for the brewery said in a statement: “Caroline is bringing Deschutes to life for all of our new fans in Virginia and the region. As one of our first people ‘on the ground’ in our new home of Roanoke, she will help us with our community involvement goals and set us up for continued growth in our East Coast markets.”
Macdonnel most recently served as promotions supervisor for Great Lakes Brewing Co. in Cleveland, Ohio after holding several positions with the company over the last several years. Macdonell received Master’s level training from Cleveland State University in mental health counseling, and holds a Bachelor of Science in Psychology, Spanish and Latin American Studies from The Ohio State University.
Chesterfield Economic Development Authority wants to build $7 million indoor sports facility
Chesterfield County is continuing to invest in sports tourism. The county announced Thursday that its Economic Development Authority wants to build a $7 million indoor sports facility at Stonebridge that will be leased primarily by the Richmond Volleyball Club. The proposal needs approval from the Chesterfield County Board of Supevisors.
The county would finance the building through the EDA, said Garrett Hart, the county's director of economic development, and the authority would lease it. Besides about 50,000 square feet that would be reserved for Richmond Volleyball Club, the county’s Parks and Recreation Department would lease 5,000 square feet of the building.
The new facility would be located at 200 Karl Linn Drive and, if approved, is expected to be operational by January 2018.
The project at the Stonebridge development just off Midlothian Turnpike represents growth opportunities for both the volleyball club and Chesterfield County, which already is home to many athletic tournaments.
“We are thrilled at the opportunity to collaborate with Chesterfield County Economic Development and Parks and Recreation. We hope to introduce more individuals to the sport of volleyball … This additional facility will allow us the opportunity to grow our programs tremendously,” Darcy Carroll, executive director of the non profit volleyball organization, said in a statement.
The public-private partnership between the EDA and the Richmond Volleyball Club is the latest for the Stonebridge development. It began as a public/private project between the EDA and Crosland, Southeast to transform the former Cloverleaf Mall site into a multimillion-dollar, mixed-use center. Today, it’s home to Kroger Marketplace, one of the company’s largest stores in the mid-Atlantic region; the Elements at Stonebridge, a Boyd Homes’ luxury apartment community, and the Shops at Stonebridge.
For the past 35 years, RVC has offered year-round programs for adults and juniors. It has grown from one four-court facility into two facilities with 20 courts serving more than 3,000 members. Richmond Volleyball Club has nearly 400 visitors daily who participate in adult leagues and junior development programs. The club supports 140 USA Volleyball and recreational junior teams annually. It also hosts about 51 teams on any given weekend with 57 percent of those teams travelling from more than 60 miles away.
This new facility will allow RVC to increase its one-day tournaments, which occur almost every weekend from January to May, by about 32 teams each day.
RVC also hosts more than 10,000 junior players, coaches, and spectators twice a year in two major tournaments, the combined Boys’ East Coast Championships/Girls’ South Atlantic Championships, and the Monument City Classic. These tournaments are held at the Greater Richmond Convention Center and at the club’s current Henrico County location. According to Chesterfield’s EDA, these two tournaments generate about $9 million dollars in economic impact.
“Sports tourism has been a huge economic driver for the Richmond region in recent years, totaling more than half of our events bookings. Facilities are the number one factor in attracting lucrative tournaments to the area,” said Jack Berry, president & CEO of Richmond Region Tourism. “The new space at Stonebridge is an exciting addition to the Richmond Region’s sports tourism offerings.”
Leslie Haley, vice chairwoman of the Chesterfield County Board of Supervisors and the representative from the Midlothian District, said she was ‘thrilled” by the county’s partnership with the volleyball club. “The economic impact on the eastern Midlothian area from people visiting this facility for daily events and weekend tournaments will be tremendous!”
The project builds upon a recent expansion of facilities in the region. Chesterfield recently agreed to acquire the River City Sportsplex, a five-field, 115-acre facility in the county, for $5.5 million.
The extra space created by the project for the Chesterfield County Parks and Recreation Department would bring an opportunity for more programming for older adults. Such programs would include classes, workshops, fitness programs and special events. In addition to the senior programming, the location could be used for community programs, pre-school activities and youth programming.
Besides the indoor sports facility, more retail space looks to be on the way for Stonebridge. Its new owner, S2 Capital Partners LLC, wants to add 15,600 square feet of retail development.
Waterside District in Norfolk to celebrate grand opening on May 11-14
Waterside District, Norfolk’s new downtown waterfront venue, will celebrate a grand opening celebration on May 11-14. The four day event is open to the public, and will include live musical performances.
Recording artists Weezer and New Politics will play May 11 and country music singer Chase Rice will perform on May 13. The concerts are free.
The grand celebration follows the opening of the venue to the public on May 4. Waterside District is located along the Elizabeth River on the old site of the Waterside Festival Marketplace. The city hired the Baltimore-based Cordish Cos. to do a $40 million, 125,000-square-foot redo, which includes the Market, a 30,000-square-foot area for dining and restaurants.
Tenants at the Market include Starr Hill brewery, Rappahannock Oyster Co. and Cogan’s Pizza. Waterside District also will feature national restaurants such as Guy Fieri’s Smokehouse, Blue Moon Taphouse, PBR Norfolk and The Fudgery.
“It has been so gratifying to see this project come together, and we are thrilled with all that the new Waterside District will bring to downtown Norfolk,” Glenn Sutch, president of Waterside District, said in a statement.
Bon Secours Richmond Health System names new vice president
Bon Secours Richmond Health System announced Wednesday it has named Rhodes B. Ritenour vice president of external and regulatory affairs in the mission services division.
Prior to joining Bon Secours, Ritenour served as deputy attorney general of Virginia for civil litigation, overseeing 100 lawyers and non-lawyers.
Before that, he was a partner at LeClairRyan in Richmond where he focused on intellectual property litigation and regulatory matters.
Ritenour also has served as a law clerk for U.S. District Judge Jackson L. Kiser in the Western District of Virginia and worked in the policy office of U.S. Sen. Mark Warner when he was governor of Virginia.
Ritenour earned his undergraduate and law degrees from the University of Virginia. He is co-chair of the Virginia Bar Association Judiciary Committee. He also is co-founder of TheDiabetesSupportGroup.org, a national diabetes support group focused on the proactive management of diabetes.
Optima Health to open first office in Norfolk
Optima Health has leased 45,000 square feet of office space at Military Circle in Norfolk. According to S. L. Nusbaum Realty Co., which brokered the deal, the site – slated to open in June – will be the fifth office location for Optima in Virginia and its first in Norfolk.
The office will employ about 200 people.
Other office locations include Virginia Beach, Hampton, Newport News, Richmond and Roanoke.
Optima Health provides health plan coverage to about 450,000 members offering a suite of commercial products, including employee-owned and employer-sponsored plans, as well as individual and family health plans, employee assistance plans and plans serving Medicare and Medicaid enrollees.
John M. Profilet, a senior vice president with Norfolk-based Nusbaum, provided tenant representation services to Optima during their search for office space in the Hampton Roads market.