Phillips Realty Capital secures $29M bridge loan for HighBrook Investors
A New York-based real estate private equity firm, HighBrook Investors, secured a three-year floating-rate loan of $29 million, with extension options, to purchase the Reston Metro Center One office building, located near the future Reston Town Center Metro station and the planned $1.4 billion Halley Rise mixed-use development. HighBrook received the loan from Rubenstein Mortgage
Company expects Reston Town Center project to be ready in 2021.
Microsoft Corp. will invest $64 million to expand its presence in Reston Town Center in western Fairfax County, creating 1,500 jobs, Gov. Ralph Northam announced Wednesday. The software giant will occupy 400,000 square feet in the Reston Town Center, which will include a software development and research hub, as well as retail space. The project
Owner of 9 franchises in state sought to reopen gyms.
The Supreme Court of Virginia won’t hear an appeal in a lawsuit filed against the governor by the owner of nine Gold’s Gym franchises in Virginia. Merrill C. “Sandy” Hall filed suit last month in Culpeper County Circuit Court, seeking to reopen his gyms, which were closed by executive order in March to contain the
OrthoVirginia is the sole occupant of the property.
The OrthoVirginia building in Prince George County has sold for $3.85 million, Glen Allen-based commercial real estate company Commonwealth Commercial Partners LLC announced Thursday. Located at 4710 Puddledock Road, the 11,172-square foot building is 100% occupied by OrthoVirginia, an independent group practice of orthopedic surgeons, sports medicine doctors and physical therapists. OrthoVirginia has more than
Financial terms were not disclosed in Framebridge Inc. deal.
Arlington-based media and education conglomerate Graham Holdings Co. announced Friday it has acquired Washington, D.C.-based custom framing company Framebridge Inc. Financial terms of the transaction were not disclosed. Graham Holdings Co. is the family company of the late Katharine Graham, who was the publisher and owner of The Washington Post. Its current holdings include online
Richmond artist Noah Scalin debuts piece for Old Navy's latest ad campaign.
Richmond artist Noah Scalin was commissioned by Richmond-based advertising company The Martin Agency to create an art installation, released Tuesday, announcing Old Navy’s donation of $30 million worth of clothing to families in need during the pandemic. Known for creating large-scale pieces made from ordinary items, as well as his Skull-A-Day project, Scalin created a
Manufacturing plant will be on former site of Burlington Industries in town of Hurt
An Ohio-based plastics company is planning to invest $34 million in a new plant in Pittsylvania County, a project expected to bring 200 manufacturing jobs to the region over the next four years, local officials announced Friday. The 250,000-square-foot plant will be built on the former site of Burlington Industries in the Southern Virginia Multimodal
Cenveo Worldwide Ltd.'s Cadmus plant lost business due to COVID-19 pandemic
Stamford, Connecticut-based Cenveo Worldwide Ltd. is shutting down its Cadmus printing plant in Henrico County by the end of May, laying off 184 employees. The company, whose customers include Virginia Business magazine, filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Monday, May 4, notifying them of the
Chicago Custom Foods LLC owns Kernel Season's flavoring, sold in 30,000 stores.
Richmond-based Sauer Brands Inc. is expanding into popcorn seasoning with the acquisition of Chicago Custom Foods LLC, the company announced Tuesday. CCF makes Kernel Season’s, a brand that makes more than 20 popcorn flavors. Sauer, which owns Duke’s Mayonnaise, The Spice Hunter and its own line of spices and seasoning, did not disclose the financial
Marc Meunier was most recently regional VP at SmartStop Asset Management LLC.
Glen Allen-based real estate investment company Capital Square announced Monday that it has named Marc Meunier as regional vice president. He will be responsible for sales in the company’s northeast territory. Meunier was most recently the regional vice president for California-based SmartStop Asset Management LLC. In his new role, he will provide sales and marketing