Mosaic Tile buys Virginia Beach property for $1.5 million
- November 25, 2012
Mosaic Tile Co. has purchased 2644 Barrett St. in Virginia Beach for $1.5 million. The company, the largest independent distributor of ceramic tile and stone in the mid-Atlantic, plans to expand the 23,900-square-foot-industrial space into its new design center, which will open in August 2013.
Mosaic Tile is currently located in a 12,000-square-foot facility on Avenger Drive in Virginia Beach. The expansion is expected to create between six to eight new jobs with an average salary of $55,000. The company said it plans to invest another $1.8 million to renovate the property, formerly the Hangar 9 facility.
“This expansion represents a significant capital investment in the Lynnhaven business corridor, helps to retains nine jobs and creates new jobs,” Warren D. Harris, director of Virginia Beach Economic Development, said in a statement.
“We selected this property within Virginia Beach because of its great visibility and proximity to Town Center and the oceanfront,” Robert Hughes, president of Mosaic Tile, said. “The city’s pro-business environment along with the competitive incentive package helped solidify our decision to stay and grow in Virginia Beach.”
The Virginia Beach Economic Development Authority approved an Economic Development Investment Program grant in the amount of $50,000 based on the capital investment and job creation.
The Mosaic Tile Company was founded in 1972. It has ten design centers that showcase some of the most diverse ceramic tile, stone, metal and glass products from around the world. The company has five centers in Virginia, two in Maryland and two in North Carolina