Virginia Businesses in the News


Real Estate

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For the Record is compiled from company releases, business journals and newspaper reports from around the state. If you have an item for these listings: • Mail it to: For the Record Virginia Business Magazine P.O. Box 85333 Richmond, VA 23293 • E-mail it to ForTheRecord@va-business.com • Fax it to (804) 649-6311

Colonial Williamsburg and founders of Norfolk-based Executive Evaluation Center , plan to open an upscale health evaluation center and spa aimed at corporate executives and retirees near the Williamsburg Inn and plan to consolidate two art museums through a $3.5 to $4 million investment. (Daily Press)

Continental Properties Corp., a commercial and industrial property developer headquartered in Virginia Beach, began construction on a $7 million one-story 67,500-square-foot office building in northern Suffolk's Bridgeway Commerce Park. (The Virginian-Pilot)

The Downtown Plaza in Norfolk, a 12.3-acre shopping center, is under consideration for purchase by the city of Norfolk from Downtown Plaza Associates, a consortium of 20 businesspeople, for $5 million. (The Virginian-Pilot)

Extended Stay America Inc. of Spartansburg, S.C., opened a three-story, 101-room Extended StayAmerica Efficiency Studios hotel in Lynchburg as a result of the rapidly growing extended-stay lodging market segment of the hotel industry. (Business Wire)

General Growth Properties Inc., a Chicago-based owner of shopping centers, purchased Lynnhaven Mall of Virginia Beach for $256.6 million from the New York State Teachers Retirement System. (The Virginian-Pilot)

GMAC Commercial Mortgage Corp. of Virginia Beach, arranged a $33 million debt and $10.5 million equity package to acquire Forest Office Park in Richmond from Forest Office Park Associates. (Business Wire)

Prentiss Properties Trust of Dallas, a real estate investment trust, purchased the six-story, 227,574-square-foot Computer Associates Building in Herndon for $51.5 million. (Business Wire)

Ukrop's Super Markets Inc., plans to take over the Community Pride store near the Virginia Commonwealth University academic campus, marking the first store in the city's core for the supermarket retailer. (Richmond Times-Dispatch)

US Airways, an Arlington-based airline, plans to offer seasonal weekend roundtrip service to Vail from its hubs in Charlotte, N.C., and Philadelphia beginning Dec. 20 and ending on April 4, 2004. (PR Newswire)