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‘Frenzied’ housing market is normalizing
September home sales down 2% from a year ago in Va.
The residential real estate market frenzy in Virginia may be slowing to more normal conditions, the chief economist with Virginia Realtors said in a new report out this week. For the first time in more than a year, sales activity slowed in September, compared with a year ago. Last month, there were 13,079 home sales
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Mary Baldwin alum makes $12.5M gift
Paula Lambert founded Mozzarella Co. in Dallas
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A 1965 alumna of Mary Baldwin University has given her alma mater $12.5 million, which will mainly go toward unrestricted support of the private university in Staunton, MBU announced Wednesday. Paula Stephens Lambert, a Dallas resident who founded Mozzarella Co. in 1982 and introduced many European handmade cheeses to the United States market on a
Going cold turkey
Supply chain issues threaten Thanksgiving main course
Published
To get a turkey on your Thanksgiving table this year, you may have to plan ahead. And even so, ham, pork tenderloin, chicken or even tofurkey might have to fill in as substitutes. Ukrop’s Homestyle Foods, the Richmond-based prepared food business spun off from the former regional grocery store chain, informed its customers Tuesday that
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Omni Homestead launches $120M renovation
Resort to overhaul rooms, exteriors and build new event space
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The Omni Homestead Resort has started work on a property-wide revamp expected to cost $120 million, the resort hotel in Bath County announced Monday. Some renovation work will begin late this month, and an event pavilion will be added to the hotel, which opened in 1766. The Homestead project is likely to be the largest
Five-building industrial portfolio sells for $9M
Structures are in Harrisonburg, Chesterfield County, Newport News, Virginia Beach
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A five-building industrial portfolio with buildings in Harrisonburg, Chesterfield County, Newport News, Virginia Beach and Durham, North Carolina, sold for just over $9 million Thursday, Glen Allen-based commercial real estate firm Commonwealth Commercial Partners LLC (CCP) announced. ESAP LLC sold the portfolio to Drakadia Holdings LLC, a business entity registered to an eastern Henrico County
Italian meat company bringing 150 jobs to Rockingham County
Veronesi Holding S.p.A. will invest $100M
Published
Italian cured meats manufacturer Veronesi Holding S.p.A., a Gruppo Veronesi company, will invest approximately $100 million to establish its first U.S. production facility in Rockingham County, creating an estimated 150 jobs over the next four years, Gov. Ralph Northam announced Thursday. The facility will be located on 75.8 acres in the Innovation Village @ Rockingham
JMU-led pact seeks to increase labor participation
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The Shenandoah Valley’s economy is rebounding, but the region is struggling with a poor labor force participation rate, even compared with the national rate of 61%. In Augusta, Bath, Highland, Page, Rockbridge, Rockingham and Shenandoah counties, only 50% of potential workers are actually employed, says Jay Langston, executive director of the Shenandoah Valley Partnership, calling
JMU SVP of administration and finance announces retirement
Charlie King has been with university since 1996
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Charlie King, James Madison University’s senior vice president of administration and finance for the past 25 years, has announced he will retire in December, the university said Monday. “On behalf of the entire university community, I congratulate Charlie on his retirement and share deep appreciation for the foundation he has laid, his support and his
Six Staunton apartment properties sell for $6.3M
The portfolio includes 88 apartments
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Staunton Portfolio LLC has purchased a six-property multifamily portfolio, which includes 88 apartments for $6.3 million, Cushman & Wakefield | Thalhimer announced Wednesday. The portfolio was sold with assumable long-term fixed-rate debt in place. The seller was LSK Properties LLC. The properties are located in Staunton at 1020 Rockaway St., 2407 Bare St., 2501 Hickory
Virginia Industrial Plastics to grow in Rockingham, adding 92 jobs
$6.5M expansion will increase product line capacity
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Virginia Industrial Plastics Inc. will invest more than $6.5 million to expand its manufacturing facility in Rockingham County, Gov. Ralph Northam announced Thursday. The plastic thermoforming and fabrication company will add 92 jobs with the expansion. Virginia Industrial Plastics makes products designed to serve markets such as meat processing, leisure, medical, commercial, transportation, industrial, heavy