Richmond area shopping malls are holding steady, but trouble might be on the way as major retailers plan to close stores. A BizSense study found that the combined storefront vacancy of six area malls is 9.6 percent. Brian Glass, commercial retail broker for Grubb & Ellis | Harrison & Bates, said the percentage of empty… Read more »
Al Harris
Downtown development marches on
Despite rising vacancy rates and a slumping economy, developers presented a cheery outlook for development in downtown Richmond at an event yesterday hosted by Venture Richmond. More than 100 people gathered for the Downtown Development Forum at the newly renovated National Theatre at Broad and Seventh streets. Presenters delivered two-minute updates on development projects that… Read more »
Pipeline Commercial Real Estate Round Up for 12.5.08
CB Richard Ellis reports IES Commercial, Inc., a communication and electrical service company headquarted in Houston, leased 23,800 square feet on Lakeridge Parkway in Hanover County. The Richmond office will be moving from its current location in the East End. Thalhimer reports the Virginia Veterinary Medical Association purchased a 1,700 square foot office condominium at… Read more »
90-day prescription for Richmond’s economy
The Greater Richmond Partnership is reevaluating its game plan. The public-private economic development agency completed a 90-day plan to help Richmond remain a top place for businesses. (Richmond was just anointed a top 10 metro area for business by MarketWatch) Perhaps the most visible aspect of the partnership’s work is to promote the region to… Read more »
Chamber of Commerce forced to cut staff
The Greater Richmond Chamber of Commerce is not immune from the economic slowdown. The Chamber, a not-for-profit organization which relies upon revenue from events and memberships, has laid off four full-time employees and one part-time employee.
We don’t need no stinkin’ cars
A new website promotes alternative transportation in the city of Richmond. Howirichmod.com is the brainchild of seven graphic design students at Virginia Commonwealth University’s School of the Arts.
A present to yourself: Early tax prep
It might pay to think a little about your taxes now instead of in April. Mike Gracik, a principal at the Keiter Stephens accounting group, is advising clients to see what expenses they might need for the first couple of months next year – office supplies or vehicle repairs, for example – and buy them… Read more »
Another healthy shot to the booze industry
Turns out booze really is recession proof. Retail sales at ABC stores statewide were up 12.3 percent in October compared to the previous year. Sales to mixed beverage licensees (bar and restaurant owners) dipped in August by 5 percent from 2007. But the numbers leapt back up to a growth of 4.5% in September and… Read more »
Coming soon: Movieland to open in Feb., hire 60
Richmond’s first new movie theater in more than three decades will open in February, if all goes according to plan. Movieland at Boulevard Square will start hiring after the holidays and will employ about 60 people, said co-owner Charley Moss. Last year, the company began renovating the old locomotive assembly plant, most recently occupied by… Read more »
Dipping into their options: How officials lured hummus maker to Va.
Last week, local and state economic developers announced that Sabra Dipping Co. would open a $59 million hummus plant in Chesterfield in 2010. The deal required six months of work by state and local economic development groups and the right mix of incentives. But it was Sabra Dipping that made the first move. Sabra requested… Read more »