Less rent means lower appraisals
February 2, 2010 by Greg Pearson · Leave a Comment
This story first appeared in the Chesterfield Observer, which is an RBS News Partner.
Property values in Chesterfield are taking a tumble.
The value of existing commercial real estate in Chesterfield County dropped an average of 6.4 percent, or $418 million last year, according to the county assessor’s office. Read more
Chesterfield no longer as insulated
July 16, 2009 by Jim McConnell · 1 Comment
Chesterfield County is no longer out-performing the state when it comes to one of the most common barometers of economic health: employment.
As recently as February 1992, when the national unemployment rate spiked to 8.2 percent and 7 percent of all Virginians filed jobless claims, unemployment in Chesterfield never exceeded 4.8 percent. Read more
Strip mall files for bankruptcy protection
April 7, 2009 by Aaron Kremer · 1 Comment
A Chesterfield shopping center has filed for Chapter 11 bankruptcy protection.
Rockwood Square LLC, which owns the Rockwood Square strip mall on the 10,000 block of Hull Street (near the corner of Courthouse) filed for bankruptcy protection late last week. Read more
No shirt, no shoes…no dancing?
March 24, 2009 by Al Harris · 3 Comments
You can have a drink, and watch the live entertainment at County Rib & Ale House in Chesterfield.
But you can’t dance.
According to the Midlothian Exchange , the five restaurant investors received summons in early March for two illegal dancing incidents in February.
There is a county code in Chesterfield that requires restaurant owners to acquire a $25 night club permit to allow dancing along with serving alcohol and hosting concerts. The permit can be denied for a variety of reasons. County Rib & Ale House has been denied because police are frequently called to the restaurant, one of the owners said.
A nearby Mulligan’s restaurant was also cited last month for allowing dancing without a nightclub permit. Both restaurants have “No Dancing” notices posted on the front door.
A major with the Chesterfield County Police Department said the department had been called to County Rib & Ale more than 50 times since last January, mostly to break up fights and other disturbances.
The restaurant owners and musicians say the “footloose law” threatens their livelihoods.
Patrons have started a petition to change the law.
Midlothian Boater’s World Is Liquidating
March 23, 2009 by Aaron Kremer · 2 Comments
Boater’s World, a chain of boat supply/fishing gear stores with one location in Richmond and several in Hampton Roads, is liquidating.
The sale started last week. According to a representative at the Midlothian store (9700 Midlothian Turnpike) reached by phone this morning, traffic has been brisk.
According to the Baltimore Business Journal, merchandise is up to 30 percent off.
The company is owned by Ritz Camera, which previously filed for bankruptcy protection.
Second round of layoffs at PrecisionIR
February 18, 2009 by Aaron Kremer · 1 Comment
White-collar jobs continue to disappear in Richmond. PrecisionIR, an investor relations technology company based in Chesterfield, let go about 40 workers yesterday, including 16 in Richmond. Read more
Construction slowing even more
February 11, 2009 by Al Harris · 4 Comments
Construction activity is slowing at an increasing rate in Richmond, leading to more layoffs, longer pay terms and downward pressure on the prices subcontractors can charge. For the first time in recent memory, builders say foreign laborers are also starting to return to their countries of origin. Read more
