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Rustburg shopping center sells for $4.7M
Rustburg Marketplace anchored by Food Lion
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Rustburg Marketplace, a 46,700-square-foot grocery-anchored shopping center at 1051 Village Highway in Rustburg, has sold for $4.7 million. Anchored by a Food Lion, the shopping center’s other major tenants include Family Dollar and Virginia ABC. The Kent Mall LLC purchased the strip mall, which sits on 8.55 acres, from Rustburg Ventures LLC. S. L. Nusbaum
Kings Dominion sets minimum wage at $13 for seasonal workers
Previous base was $9.25 at Doswell theme park
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Kings Dominion, the Doswell amusement park, has set its minimum wage for seasonal employees at $13 per hour, it announced Thursday. Previously, the base wage was $9.25. The park, owned by Cedar Fair Entertainment Co., expects to hire 2,100 seasonal workers before reopening May 22, and it also is hiring 80 new full-time positions with
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MCV Foundation names director of marketing and communications
VCU Health's philanthropic arm promotes Eric Peters
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Medical College of Virginia Foundation has tapped Eric Peters as director of marketing and communications, promoting him from other marketing communications roles he’s held there since 2017. Peters is responsible for the marketing and communications strategies for MCV Foundation, which manages $800 million in assets. The foundation works to raise awareness and inspire philanthropic support
Genworth kills long-delayed $2.7B acquisition
Acquisition by China's Oceanwide Holdings Group had been pending since 2016
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Henrico County-based Fortune 500 insurer Genworth Financial Inc. announced Tuesday that it has formally terminated its long-delayed $2.7 billion acquisition by China-based Oceanwide Holdings Group Co. Ltd. The news follows a Jan. 5 announcement by Genworth that it was putting a hold on the deal, first announced in 2016. At the same time, the company
Lynchburg’s BWXT wins $690M contract extension
Department of Energy contract focused on cleanup of Ohio uranium enrichment plant
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The U.S. Department of Energy has awarded a contract extension to Lynchburg-based nuclear components and fuel supplier BWX Technologies Inc. (BWXT) worth up to $690 million, the company announced today. BWXT has worked with Irving, Texas-based engineering and construction firm Fluor Corp. on the project, an effort to decontaminate and decommission the former Portsmouth Gaseous
Carvana proceeds with $25M Chesterfield facility
Temporarily paused by pandemic, project could create 400+ jobs
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After putting its plans in neutral, online used car retailer Carvana announced Tuesday that it plans to break ground this quarter on a $25 million, 191,000-square-foot vehicle inspection and reconditioning facility in Chesterfield County. The project could bring more than 400 jobs to the county, economic development officials said in the announcement. Carvana first announced
The Brink’s Co. purchases largest private ATM services provider for $213M
Based in Dallas, PAI Inc. has a fleet of 100,000 U.S. ATMs
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Henrico County-based The Brink’s Co. has purchased PAI Inc., the largest privately held ATM services provider in the nation, for $213 million, the company announced Tuesday. The closing date was April 1, and the acquisition was financed using available cash and Brink’s existing credit facility, according to a news release. Brink’s, which offers secure cash
Virginia sees major housing inventory shortage
Industry experts see numerous cases of homes under contract on first sale day
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Across Virginia and the nation, real estate experts are singing the same tune: We’re facing a major housing inventory shortage that shows no signs of letting up soon. “Inventory is down about 44% compared to a year ago and it’s about a third of what it was five years ago,” says Lisa Sturtevant, chief economist
Dominion’s Tom Farrell dies one day after retiring
Richmond-based Fortune 500 utility’s longtime leader was battling cancer
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Thomas F. Farrell II, the longtime chairman, president and CEO of Dominion Energy Inc., died Friday, one day after retiring as the Richmond-based Fortune 500 utility’s executive chair and top leader. Farrell, 66, was battling cancer, according to an announcement from Dominion. “Tom was a peerless mentor and outstanding leader who sought to find innovative
Blue Ridge Bank hires first chief development officer
Taps banking veteran Steve Farbstein for new role
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Steve Farbstein has left his position at Cornerstone RPO to become Blue Ridge Bank’s first chief development officer, the bank recently announced. Farbstein will be responsible for marketing, employee development and growing and maintaining lines of revenue at the bank, a subsidiary of Charlottesville-based Blue Ridge Bankshares Inc. — which completed a merger in February with