A rough patch for local companies can presage lean times ahead for local nonprofits. LandAmerica and Circuit City both filed for Chapter 11 Bankruptcy protection in November. Wachovia Securities, another major corporate giver, packed up most of its operations in favor of St. Louis. All three gave away large sums. Both Circuit City and LandAmerica… Read more »
Search Results for: broad
Innsbrook empties out: Vacancy rate poised to double
Nearly 1 million square feet of class A office space in the Innsbrook area could be vacated as locally-based corporations downsize, driving down rental rates in the area but potentially making the Richmond area more attractive to corporations considering moving here. Almost every office building at Innsbrook has a “for lease” sign, and the situation… Read more »
Recession-themed ad: Sound Investment
While we found advertisements that play off of the economic hype are slow to catch on at the local level, one example was brought to our attention today. Richmond Piano has been running an ad on WCVE Public Radio for about a month that advises listeners: “make a sound investment: play the piano.” “We’ve been… Read more »
Pipeline Commercial Real Estate Round Up for 11.14.08
Thalhimer reports Kroger has leased 86,000 square feet at The Corner at Short Pump located at the corner of West Broad Street. and Lauderdale Drive. The 250,000 square feet shopping center recently broke ground and the new Kroger is expected to open in late 2009. Old Bon Air Partners sold two office buildings at 1030… Read more »
Check this out: The RBS Guide for small business checking
Most businesses should try to keep about a month’s worth of cash in the account. The balance is insured by the Federal Deposit Insurance Corporation up to $250,000. A normal balance might be between $5,000 and $10,000 for a start-up or small business. A small business savings account can earn more interest and is easily… Read more »
Intrinergy secures $47 million for Belgian biomass plant
Despite a tough credit climate for alternative energy companies, Richmond-based Intrinergy has secured $47 million in bank financing to build a biomass power plant in Belgium. Intrinergy designs, builds and finances power plants that use biomass (wood chips, forest residue, or yard clippings) instead of fossil fuels to produce the steam that runs industrial plants… Read more »
Short Pump grocers ready to fight fresh competition
Consider yourself warned, Whole Foods and Trader Joe’s. Two of Short Pump’s original higher end grocers are ready to fight to retain their upscale shoppers. Tom Leonard, who owns a farmer’s market on Brookriver Drive, behind Best Buy, may not have prime Broad Street frontage, but it doesn’t seem to affect his business. Just across… Read more »
If it ain’t broke, don’t touch it!
In 16 years of working on cars, Ronnie Bowen has never seen it so slow. Or seen so many motorists opt for the bare minimum to keep their cars on the roads. “The economy is so bad, people are not even doing preventative repairs. They’re fixing what has to be fixed so they can still… Read more »
Pipeline: Commercial Real Estate Roundup for 10.10.08
Thalhimer reports the following transactions: Owens & Minor Medical, Inc. has purchased 50 acres of land within Atlee Station in Hanover. The land was purchased from Media General, Inc. for $5,398,650. Owens & Minor has purchased the land as an investment for future use. The Richmond-based company distributes medical and surgical supplies to hospitals and… Read more »
State buys Main Street Centre for $49 million
The state of Virginia has purchased Main Street Centre for $48.8 million The 420,575 square foot Main Street Centre, located on the corner of 6th and E. Main Streets downtown, has been sold by Brandywine Realty Trust. The building was built in 1986 and houses the Greater Richmond Chamber of Commerce among other tenants.