Group seeks baseball team, backer says (Times-Dispatch) The leader of the ownership group that wants to return professional baseball to Richmond said yesterday that the group has applied to Minor League Baseball to buy a specific team by early April. Genworth Financial continues to lose money (Times-Dispatch) Reporting its third consecutive quarterly loss, Genworth Financial… Read more »
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NewsFeed 2.9.09
Arise, Miller & Rhoads (Times-Dispatch) The landmark building, which closed in 1990, reopens this week as a $110 million hotel and condominium complex. It is the latest in a series of projects resuscitating a decrepit strip of East Broad Street. Making a hometown brew (Roanoke Times) The next time you frequent a local watering hole,… Read more »
The Pipeline: Commercial Real Estate Round Up for 2.05.09
REM Properties purchased the Shoppes at Bell Creek from private investors for $9.5 million. The 65,800-square-foot shopping center is located on Bell Creek Road in Mechanicsville. It was constructed in 2003. Grubb & Ellis Harrison & Bates reports that Pine Dell Shopping Center LLC purchased the 16,000-square-foot Pine Dell Shopping Center from Pine Dell Corp… Read more »
Pay-Per-View goes online
A serial entrepreneur might have just the ticket to help sports arenas and other venues make money from fans who would rather stay home. Jermon Green is rolling out Be There on Demand, a web-based company that allows a venue to stream live or taped content on the Internet. The company provides the technical know-how… Read more »
Newsfeed 2.5.09
27% of ex-LandAmerica workers laid off by Fidelity (Times-Dispatch) By the end of January, the Jacksonville, Fla.-based company had cut 1,500 jobs, or 27 percent of the work force it inherited from the purchase of LandAmerica’s subsidiaries — Lawyers Title Insurance Co., Commonwealth Land Title Corp. and United Capital Title Insurance Co. Anheuser-Busch InBev narrows… Read more »
Newsfeeds For 1.30.2009
Va. jobless rate at 13-year high (Times-Dispatch) Virginia’s unemployment rate spiked to 5.2 percent in December, hitting its highest point in nearly 13 years. Va. lawmakers push to limit investments in Iran (Virginian-Pilot) The U.S. government calls Iran the world’s most active state sponsor of terrorism. Virginia’s public retirement system calls it, indirectly, an investment…. Read more »
Pipeline: Commercial Real Estate Round Up for 1.23.08
Richmond International Raceway purchased a 35,300 square foot building at 4001 Carolina Ave. in Henrico for $1 million. Robert L Borum and Associates LLC purchased a 9,600 square foot flex-space building at 8191 Staples Mill Road in Henrico County from Rastek Construction and Development Corp. for $1 million. Click on the story link for more… Read more »
16 top economists to confer Jan. 31 on nation’s economic crisis
Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, will be joined by Nobel Prize economists James Buchanan, constitutional political economist, and Vernon Smith, experimental economist, and 13 other scholars in the daylong private discussions. The participants—to include economic historians, macroeconomists, financial economists and policy makers–will sum up their discussions and take questions… Read more »
Henrico’s plan
Qimonda, LandAmerica, Circuit City, Genworth. Four of the major corporations and private employers in Henrico County have shed at least 5,000 high-paying jobs. And it’s likely to get worse before it gets better, says Leonard Cake, the county’s director of economic development. Still, the county has more than 20,000 businesses, and as of November the… Read more »
January Newsfeeds
1.29.2009 Richmond gets extra time on ballpark (Times-Dispatch) The developers pitching a minor-league ballpark for Shockoe Bottom are giving Richmond Mayor Dwight C. Jones an extra five months to swing. Region’s new homebuilding hits lowest point since 1984 (Virginian-Pilot) New home construction and sales in Hampton Roads last year fell to their lowest point in… Read more »