A Henrico building sells for $12.4 million. Plus, yet another frozen yogurt shop has been leased.
First comes the Wells, then the Fargo
Small businesses around the state borrowed $149.78 million worth of SBA loans from Oct. 1 through May 31.
Wells Fargo is starting the process of rebranding local Wachovia branches.
Moves in advertising, banking, health care and local government, including a new police chief in Henrico.
Advertising firm Madison+Main leased 3,861 square feet in Exchange Place at 1313 E. Main Street in Richmond while Staples, Inc. leased 9,867 square feet in Henrico.
Several higher-end homes are on the list this week, including nine valued at more than $300,000 and a home on Cary Street.
Local bankers know they’re not the most popular guys around town these days. But the banking model doesn’t work so well when real estate prices are fluctuating so wildly and major industries are falling by the wayside. There were two banking panels this week both centered around the topic of why banks seem tighter lending than this time two years ago. Both had a similar refrain.
Customers across the board expect lower prices, and in the wealth management game, that means lower fees. On the plus side, many of the smaller firms in town say they are successfully luring away clients who formerly worked with larger financial advisors.