The Pipeline: Commercial real estate roundup for 3.19.10

Thalhimer reports the following deals: Central Virginia Health Network, Inc. has leased an additional 3,711 sq.ft. for a total of 18,470 sq.ft. at 4900 Cox Road in Henrico County.

K & M of VA, Inc. has leased 3,560 sq.ft. in Hermitage Industrial Park at 8422 Sanford Drive in Henrico County.  

160-unit complex planned near VCU

More students means more need for housing. Gilbane Inc., a Providence, R.I.-based construction and development company, is seeking permission to build 160 student apartments near Virginia Commonwealth University. The company has a pending zoning request to allow new construction at the site, located at 8 1/2 Canal Street at the intersection with Foushee Street. The application was submitted Jan. 26. The site is next to the new VCU Brand Center and close to the business and engineering schools. Wes Cotter, director of communications for Gilbane, confirmed the company's intent to build. "The budget is not available publicly yet," said Cotter. "The timeline will be decided by approvals." Cotter said the building would be a mid-rise and exceed four to five stories. The 1.07-acre site is owned by Kanawha Company LC, which purchased it in 2004 for $1.9 million from Schnabel Real Estate Holdings. Gilbane Construction worked on ...

Goodbye Connecticut

The Indian has left the Diamond. Almost. The 2,400-pound sculpture that has peered over the Boulevard for more than two decades will be disassembled Saturday morning by Chesterfield-based Holiday Signs. Kyle Dillaman, an account executive with the company, said the statue breaks down into about five pieces that will be carried down individually by a crane and loaded onto a truck. From there it will be put into storage briefly until the new owners, Shockoe Bottom-based architecture firm Odell Associates, are ready to install it on the roof of their building. “We are going to take three or four guys out of our crew and some alternate help from the folks who purchased it will be there as well,” said Dillaman. Putting the statue back up will be a bit trickier than taking it down, he said. “It is a little more challenging because of the ...

Buz & Ned’s new spot

Buz & Ned’s Real BBQ is headed out west.

Drafting a development solution

A Richmond councilman has a new idea for funding economic development. First District Councilman Bruce Tyler, who is also principal of local architecture firm Baskervill, is drafting an ordinance that would dedicate a portion of proceeds from the sale of city-owned property to economic development.

The Pipeline: Commercial Real Estate Round Up for 3.12.10

Porter Realty reports the following deal: Buz & Ned's Real Barbeque bought the 7,330 square foot retail building at 8205 West Broad Street for $1.225 million. Thalhimer reports the following deals: Spartan Metalwerks has leased 3,600 square feet at 1702 Belleville Street in Richmond. Smith and Associates, LLC has leased 1,200 square feet in Windsor Building at 1506 Staples Mill Rd. in Henrico. CB Richard Ellis reports the following deals: Elkay Virginia Decorative Surfaces, Inc. leased 31,700 square feet at 6807 School Ave in Henrico. The Martin Agency subleased 17,837 square feet at 1051 E Cary St. in the City of Richmond. Evergreen Enterprises leased 14,000 square feet at 4667 Carolina Ave in the City of Richmond.

Altria donates $1 million to VCU School of Education

The Virginia Commonwealth University School of Education has received a $1 million gift from Altria, the Richmond-based parent company of Philip Morris.

Chesterfield approves Dominion landfill

The Chesterfield Board of Supervisors gave Dominion approval late last month to create a landfill for coal waste. The site is for the disposal of fly ash, a byproduct created by burning coal at the company’s electricity-generating plants. The facility will replace the existing fly-ash site about a mile away, which Dominion said will likely reach capacity sometime around 2018. The proposed landfill will be located on 190 acres of company-owned land near the intersection of Old Stage and Coxendale roads. Ninety-two acres will actually be used for disposal. Dan Genest, a spokesman for Dominion, told BizSense that the current facility, built in 1983, handles about 600,000 tons of material a year. That volume will move to the new facility once the current one is out of use. The new landfill is expected to last for at least 20 years.

Two new shops in Richmond coming soon

A couple of new shops are opening up soon in Richmond. Balance Bicycle at 312 Brook Road will be opening in April according to its website. The store is located near the intersection of Broad and Adams streets and will sell new bikes as well as build and repair bikes. Also cropping up is Sprout Market and Café at 1 N. Morris near VCU campus. The restaurant will serve carry out food with locally sourced ingredients. According to a message on its website, the owners previously operated All Star Market and Deli  on Lombardy Street but closed it to open Sprout. The market will also sell beer and wine. The location was previously Cuppa Tea, which closed last year but now sells tea online. BizSense wrote about them in June.

Va. settles suit with id theft company

Virginia, along with 34 other states, has settled a lawsuit with Phoenix, Ariz.-based Lifelock. The states and the Federal Trade Commission charged the identity protection company with false advertising. Virginia Attorney General Ken Cuccinelli told the Associated Press that Lifelock agreed to stop saying it protects against all types of identity theft and pay $11 million in restitution to customers, as well as another $1 million to pay for the investigation. The company’s advertises heavily on radio, and CEO Todd Davis shares his social security number in ads. Ironically he became a victim of identity theft himself. Wired Magazine has more on the story: In fact, Lifelock CEO Davis was the victim of identity theft in 2007 when a thief used his widely advertised Social Security number to obtain a $500 loan in Davis’ name. Lifelock also promised customers that sensitive data they provided ...

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