Richmond: Economy/Business/Real Estate

[burt]

The advertising business recognizes that the Civil War is not a forgotten subject in Richmond. This is an interesting piece by Lou Llovio at inRich about a Washington shop opening in Shockoe Slip:

http://www.inrich.com/cva/ric/news/busines...08-15-0180.html

"Martin" is a name that is attached to several advertising businesses not only in Richmond, but across the land. In Richmond there is, of course, the big boy on the block who has its handsome offices in The Slip. But Barber-Martin is active in the area as was Hawley-Martin before it merged with Arnold, both of which are no longer Richmond presences.

Dave Martin, who in the 1950's was an account exec at Cargill, Wilson & Acree, is the seed from which at least two of these agencies grew.

[burt]

Here's an interesting inRich story by Carol hazard. She writes of the impact relocation can have on a city. Wachovia's move to St. Louis is being handled in a very generous manner. The company has taken on the responsibility of selling employees' homes when transferees have been unable to do so.

http://www.inrich.com/cva/ric/news/busines...08-17-0058.html

Moves such as Wachovia's contribute to a housing glut, but most experts believe Richmond is stable enough to weather the storm.

Incidentally, is Philip Morris still planning to transfer 2,000 workers from Carolina to Richmond?

Edited August 17, 2008 by burt

[burt]

Win some, lose some! According to a story by Lou Llovio of inRich, The Martin Agency lost out on the Global Hyatt Corp $40M account. The Shockoe Slip shop was among five finalists. BBDO Worldwide in New York and Cutwater in San Francisco are still in the running.

[burt]

Here are three items that caught my eye in today's inRich Building Permits column:

1.) Enterprise LLC, owner -- 1707 East Main Street -- alterations, $518,000.

Tha's a big hunk of money for a low rise on the south side of Main between 17th and 18th in The Bottom, IMO. Wonder what it is?

2.) James Center Properties -- 901 East Cary Street -- alterations, $360,000.

What's going on down there?

3.) Chesapeake and Potomac, owner -- 703 East Grace Street -- alterations, $201,745.

I suppose that's in preparation of Verizon moving from Main Street Center to the classy little high/mid rise at 7th and Grace.

[burt]

I began to wonder if I had read the address above incorectly; instead of 1707 East Main, could it have been 707 East Main (isn't that the 8th and Main Building being taken over by Dominion Resources?)

But, no. inRich reports it as RDNA Enterprises, owner -- S&S Construction, Inc., contractor at 1707 East Main.

Does anyone have any info on this rather costly project which I think is diagonally across Main from Cafe Gutenberg?

[ric75]

I began to wonder if I had read the address above incorectly; instead of 1707 East Main, could it have been 707 East Main (isn't that the 8th and Main Building being taken over by Dominion Resources?)

But, no. inRich reports it as RDNA Enterprises, owner -- S&S Construction, Inc., contractor at 1707 East Main.

Does anyone have any info on this rather costly project which I think is diagonally across Main from Cafe Gutenberg?

burt, this looks like one of the buildings directly across the street from Gutenberg which would make more sense since there are several vacant buildings there. Local.live shows it as being the the 3rd or 4th building down from 17th Street depending on which view you are using.

[wrldcoupe4]

Speaking of this area, "Big Daddy's" is undergoing a name change... and 3-2-1 Supper Club now appears to be "After 6"

Edited August 26, 2008 by wrldcoupe4

[burt]

Speaking of this area, "Big Daddy's" is undergoing a name change... and 3-2-1 Supper Club now appears to be "After 6"

What is BIG DADDY'S new name?

I thought AFTER 6 had always been the name of 3-2-1 SUPPER CLUB.

I hope these clubs have taken a clue from the alley cleaner-uppers and are spiffing up their rear entries on Walnut Alley.

[nhughes]

What is BIG DADDY'S new name?

I thought AFTER 6 had always been the name of 3-2-1 SUPPER CLUB.

I hope these clubs have taken a clue from the alley cleaner-uppers and are spiffing up their rear entries on Walnut Alley.

Actually, AFTER 6 is the name of the establishment that occupied 3-2-1 SUPPER CLUB's space prior to the current owners taking over. The owner of AFTER 6 left around the time of the flood, and is now reopened in place of BIG DADDY'S.

[burt]

Actually, AFTER 6 is the name of the establishment that occupied 3-2-1 SUPPER CLUB's space prior to the current owners taking over. The owner of AFTER 6 left around the time of the flood, and is now reopened in place of BIG DADDY'S.

Hi, Nathan. Nice to see you again.

You guys have me totally confused! So, the former urban club After 6 is now 3-2-1 Supper Club and Big Daddy's is now known as After 6? Is old Big Daddy's now known as After 6 going after the urban crowd? Are ladies swinging from the ceiling as in days of old?

[nhughes]

Hi, Nathan. Nice to see you again.

You guys have me totally confused! So, the former urban club After 6 is now 3-2-1 Supper Club and Big Daddy's is now known as After 6? Is old Big Daddy's now known as After 6 going after the urban crowd? Are ladies swinging from the ceiling as in days of old?

Exactly, but I'm not sure what happened to the winches (the machinery, not "wenches" ) that they were using for the aerial displays. They may be using them in the new setup, or maybe they are just sitting there in case they want to use them at some point.

To summarize:

old ---> new

AFTER 6 ---> 3-2-1 SUPPER CLUB

BIG DADDY'S ---> AFTER 6

[wrldcoupe4]

Interesting... so what happened to the owners of Big Daddy's? Did they not have other plans for the area?

[burt]

Interesting... so what happened to the owners of Big Daddy's? Did they not have other plans for the area?

I think what used to be known as TONIC on 18th Street was one of his (Big Daddy's) properties, and the planned but unfullfilled DUELLING PIANOS in what is now SHEEBA was also under his wing. Also, I thought the place on the corner of 18th and Main which has a wooden patio was his.

He was a nice guy. I liked him, but have forgotten his name.

Who owns and operates After 6 and 321 Supper Club? And what type of clientele are they attracting?

Edited August 26, 2008 by burt

[nhughes]

I think what used to be known as TONIC on 18th Street was one of his (Big Daddy's) properties, and the planned but unfullfilled DUELLING PIANOS in what is now SHEEBA was also under his wing. Also, I thought the place on the corner of 18th and Main which has a wooden patio was his.

He was a nice guy. I liked him, but have forgotten his name.

Who owns and operates After 6 and 321 Supper Club? And what type of clientele are they attracting?

Good memory, burt! The restaurant/club at 16 N 18th St was BPM, and he has pulled out of there. I manage the building, so I'm working on finding a replacement and preferably someone to buy the property, not just to move in as a tenant.

I don't know who owns/operates 3-2-1 SUPPER CLUB, but it's not the same owner as AFTER 6.

I don't think I should get into revealing too many details since I have been in the middle of a lot of it. As a few of the other posters on here know, it's a fine line sometimes when you're involved as to what qualifies as "too much" information -- not that anything is secret, just that you need to be able to afford your clients and customers a certain level of confidentiality.

[burt]

Style Weekly reports that VCU has purchased the 25-story tower at the northwest corner of 9th and Main Streets for $8.9 million and will consolidate its VCU Health Systems in the tower. Style claims that it could "suck as much as $130,00 off city tax rolls."

Hasn't the State been a prime tenant of the building? If so, it's doubtful they were contributing to city tax rolls.

Also, Jewelry Store tenant Arnold Lowenstein isn't sure about his continued presence on the ground level. He bemoans the lack of retail downtown claiming, rightfully, that retail is vital to a "convention" city. Perhaps he will relocate in the Broad/Grace corridor which, IMO, needs retail far more than 9th and Main.

Here's Amy Biegelson's story from the current Style Weekly:

http://styleweekly.com/article.asp?idarticle=17599

Edited August 27, 2008 by burt

[Shakman]

Interesting... I have been in that building and it is no 25-stories.

I would have expected a consolidation at MCV. Perhaps a good size tower to include the Medical School.

I wish the facade was more attractive.

[burt]

Interesting... I have been in that building and it is no 25-stories.

I would have expected a consolidation at MCV. Perhaps a good size tower to include the Medical School.

I wish the facade was more attractive.

The only time I was in it, the top two floors were occupied by The Bull and Bear Club, and that was a few decades ago, like the 1970's

I believe the elevator does indicate a 25th floor, Shak (of course, 13 is omitted.) Look at The Omni next to James Center II. The Omni has 16 stories, but is, proportionately, a lot shorter looking than it's 22 story neighbor.

[burt]

Will Altria buy UST for $10 billion? And if so, how will that affect Richmond? For that matter, what is UST and where is it located?

Breaking news from inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-05-0243.html

[Downtowner]

Burt here is the website for UST Inc. It appears they are the largest snuff provider in the country. I have done snuff before. Ive got a friend that is a huge dipper. I dont recommend it cause when I tried it I spit that junk out. But they look to be pretty darn big.

http://www.ustinc.com/

[burt]

Burt here is the website for UST Inc. It appears they are the largest snuff provider in the country. I have done snuff before. Ive got a friend that is a huge dipper. I dont recommend it cause when I tried it I spit that junk out. But they look to be pretty darn big.

http://www.ustinc.com/

Thanks for the web site, Joey. Baseball players (especially pitchers) used to be famous for having a cheek full of chewing tobacco in their mouths while on the mound. I don't think it's as popular as it used to be.

I see that UST is headquartered in Stamford, CT, but I cannot find out how many people they have on payroll.

Here is a more detailed story about the possible acquisition from today's inRich:

http://www.inrich.com/cva/ric/news/busines...09-06-0037.html

Edited September 6, 2008 by burt

[burt]

Altria's acquisition of UST is a done deal. What will the $11 billion deal mean for Metro Richmond? Will UST move its headquarters and personnel here from Stamford?

From today's inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-08-0199.html

[burt]

The state's long-time tourist-luring motto, "Virginia is for Lovers" is being amended to add the words "Live Passionately", but it has more to do with dog biscuits than the real raw stuff.

And, alas! The Tourist Bureau doesn't have the funds to market the slogan where it might be effective -- outside the borders of Virginia.

From today's inRich:

http://www.inrich.com/cva/ric/news/busines...09-12-0161.html

[burt]

Not such good news. Richmond has slipped from 56th in 2007 to 102nd this year in certain business related Milken Institute categories.

It's a pdf so you'll need to enlarge to read unless your eyes are a Helluva lot better than mine.

http://bestcities.milkeninstitute.org/2008_LC_Metros.pdf

Edited September 15, 2008 by burt

[burt]

Qimonda, the huge chip maker in eastern Henrico, may be bought up by Micron in Boise, Idaho.

From today's inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-16-0181.html

[burt]

This Style Weekly story says VCU might purchase the Theatre Row building at the corner of 8th and Broad next door to the National. The site was formerly The Colonial Theatre and when it was demolished the facade was retained and is a gem on Broad Street.

http://styleweekly.com/article.asp?idarticle=17746