For the Record – Central Virginia, October 2013
Published
The 1-million-square-foot Amazon distribution center in Chesterfield County has a new owner. An affiliate of Cole Real Estate Investments entered into an agreement of purchase and sale on July 31 to acquire the center from affiliates of USAA for $81.3 million, according to a filing with the Securities and Exchange Commission. Cole affiliates also bought a similar-size Amazon fulfillment center in Murfreesboro, Tenn., for $69.1 million. (VirginiaBusiness.com)
Dominion Virginia Power won the right to develop the first wind energy farm off the Virginia coast in a federal lease auction with a bid of $1.6 million. Fully developed, the 112,799-acre lease could generate 2,000 megawatts, which would be enough energy to power more than 700,000 homes, according to the federal Bureau of Ocean Energy Management. (Richmond Times-Dispatch)
Essex Bank, a subsidiary of Glen Allen-based Community Bankers Trust Corp., has signed a deal to sell four of its Georgia offices to Atlanta-based Community & Southern Bank (CSB) for about $5.2 million. Essex Bank will sell approximately $192 million of related deposits to CSB, a bank with 34 locations in Georgia. The bank will not sell any loans to CSB. The transaction is expected to close in the fourth quarter of 2013. (VirginiaBusiness.com)
The Washington Redskins are partnering with Richmond-based Health Diagnostic Laboratory Inc. to provide advanced testing and counseling services to help, players, coaches and staff find out if they are predisposed to cardiovascular disease, diabetes and other related diseases. Financial terms of the sponsorship are not being disclosed. The one-year deal, with an option for two additional years, includes branding opportunities for HDL at FedExField in Landover, Md., and at the Bon Secours Washington Redskins Training Center in Richmond. (VirginiaBusiness.com)
A University of Virginia panel has proposed that the institution break many of its ties with the state government and operate more like a private school. Such an arrangement — which would need state lawmakers’ approval and likely would meet opposition — would allow Virginia’s flagship public school the freedom to more easily increase tuition and accept more top-tier students from across the country and the world. (The Washington Post)
An 18-story office tower at 700 E. Main St. in downtown Richmond will be converted into two hotels — one, a regular hotel, and the other for extended stays. Chester-based Shamin Hotels, one of the region’s largest hotel operators, will put a 144-room Hampton Inn & Suites and a 100-room Homewood Suites in the building. Both hotels are Hilton brands. The opening is targeted for the beginning of 2015. (Richmond Times-Dispatch)
A $10 million gift from a Connecticut couple who graduated in 1986 will lead to The Queally Center for Admission and Career Services, a $12 million center for admission and career services at the University of Richmond. The $10 million lead gift came from Paul and Anne-Marie Queally, who live in New Canaan, Conn. They have given a total of $20 million to the University. Paul Queally, a university trustee, is co-president of the investment firm Welsh, Carson, Anderson & Stowe. (VirginiaBusiness.com)
The University of Virginia ranked first among the Princeton Review’s list of top 10 best values for public colleges. Six other Virginia universities were listed among the publication’s 75 best values for public colleges including Longwood University in Farmville. The University of Richmond made Princeton’s list of 75 best values for private colleges. The lists are based on data collected from fall 2011 through fall 2012 through institutional and student surveys. (VirginiaBusiness.com)
Reggae musician Frederick “Toots” Hibbert has filed a $20 million lawsuit against Venture Richmond and Metropolitan Richmond Sports Backers Inc. over injuries suffered when he was hit by a bottle while performing at a Richmond concert May 18. The lawsuit filed in Richmond Circuit Court also names Strawberry Street Event and Concessions, which sold alcoholic beverages among other concessions at the outdoor Dominion Riverrock concert on Brown’s Island, and Regional Marketing Concepts Inc., which provided private security for the event. (Richmond Times-Dispatch)
