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Richmond: Economy/Business/Real Estate


wrldcoupe4

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Would the two 18 story towers, as a pair, be large enough in square footage to accommodate Mead/WV? Aren't the office portions of each to be only 10 floors with 8 levels of parking beneath?

ric75's got it right! Where is City PR? Why don't Wilder, Richmond Renaissance and all the other downtown groups make some noise? It's difficult to believe that there isn't lots of behind-the-scenes negotiating going on between the City and Mead/WV.

Edited by burt
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The fifteen story (including parking) Riverside on the James office tower has 230,000 sf of office space. Those towers could definitely accomodate the 200,000sf+ that MWV needs. I want them to locate downtown. However, judging by their current suburban location in Conn., it doesnt surprise me they are looking at Richmond's suburbs. MeadWestvaco... go downtown you fools! :)

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The fifteen story (including parking) Riverside on the James office tower has 230,000 sf of office space. Those towers could definitely accomodate the 200,000sf+ that MWV needs. I want them to locate downtown. However, judging by their current suburban location in Conn., it doesnt surprise me they are looking at Richmond's suburbs. MeadWestvaco... go downtown you fools! :)

Give 'em hell, coupe. :lol:

Stamford is just one big suburb with practically no center of focus, except for the train station.

Do your "inside" sources express themselves on the issue? Do they mention the potential of a downtown location?

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  • 2 weeks later...

Richmond-based LandAmerica to acquire Arizona based Capital Title Group Inc

Good news for a great Richmond-based company....

some excerpts:

LandAmerica, a provider of realty transaction services, has agreed to acquire 100 percent of Capital Title's common stock for $251 million.....Capital Title has about 2,500 employees and 140 offices. In 2005, the company earned a spot on Fortune magazine's list of the 100 fastest-growing companies for the second consecutive year.....

Capital Title earned income before taxes of $37 million on record gross revenue of about $380 million for the year that ended Dec. 31.......

LandAmerica serves residential and commercial customers in the United States, Mexico, Canada, the Caribbean, Latin America and Europe.

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Mead/Westvaco is taking up "temporary" residence in the old Signet Bank/Capital One building on West Broad across from Innsbrook and next door (practically) to West Broad Village. Sadly for downtown, I imagine that means they can watch their new permanent headquarters rise just across I-64 in the new Urban village. Probably many of its transplanted employees will also watch as their new condos take form in the Village. :cry:

But there's the outside chance that Centennial and City concessions could lure them downtown. The bidding isn't over yet!

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MWV must be leasing the buildings from Philip Morris. I'm almost positive that PM purchased them recently, after Capital One moved to its new campus at West Creek.

Also... as temprorary leasing goes.... there were only a few places just sitting there available in the entire region that could accomodate this many employees. It may mean they decide to pick the west end, but it might not! :thumbsup:

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MWV must be leasing the buildings from Philip Morris. I'm almost positive that PM purchased them recently, after Capital One moved to its new campus at West Creek.

Today's new story didn't mention Phillip Morris. If I knew how to link it, I would, but it would just keep us crying. :cry:

Old CNB tower, being upgraded to Class A space, sits there empty and I'm sure it contains at least 200,00 square feet.

Edited by burt
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Would the two 18 story towers, as a pair, be large enough in square footage to accommodate Mead/WV? Aren't the office portions of each to be only 10 floors with 8 levels of parking beneath?

ric75's got it right! Where is City PR? Why don't Wilder, Richmond Renaissance and all the other downtown groups make some noise? It's difficult to believe that there isn't lots of behind-the-scenes negotiating going on between the City and Mead/WV.

An Update on the Meadwestvaco issue....

Likewise, the state government, not the city, gets credit for recruiting MeadWestvaco Corp., a Fortune 500 packaging company that will move its headquarters to the Richmond region later this year. But, says William Harrell, the city
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Richmond has 9 Fortune 500 Companies!

(including Meadwestvaco's recent arrival)

1. Dominion Resources - 123

2. Genworth Financial - 223

3. Circuit City Stores - 226

4. Meadwestvaco - 322

5. Performance Food Group - 349

6. Brinks - 295

7. CarMax - 411

8. Owens & Minor - 443

9. LandAmerica - 500

All told, Richmond has 13 Fortune 1000 Companies HQed in the area...

Universal, Massey Energy, Markel, and Albemarle round out the last 4.

:yahoo:

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Richmond has 9 Fortune 500 Companies!

(including Meadwestvaco's recent arrival)

1. Dominion Resources - 123

2. Genworth Financial - 223

3. Circuit City Stores - 226

4. Meadwestvaco - 322

5. Performance Food Group - 349

6. Brinks - 295

7. CarMax - 411

8. Owens & Minor - 443

9. LandAmerica - 500

All told, Richmond has 13 Fortune 1000 Companies HQed in the area...

Universal, Massey Energy, Markel, and Albemarle round out the last 4.

:yahoo:

Now we need three more to make it an even dozen. One each for Centennial, James Center and CNB. :lol: That assuming Mead/Westvaco builds its own tower downtown.

Edited by burt
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Oh So Fortunate

excerpt:

When MeadWestvaco moves into its temporary digs near Innsbrook this summer, Richmond will secure a sixth place rank among U.S. cities with the most Fortune 500 company headquarters, according to 2006 Fortune 500 list, which was released Monday.

After MeadWestvaco comes to town, greater Richmond with nine Fortune 500 companies will out shadow Charlotte, Cincinnati, Minneapolis, Philadelphia and St. Louis, which have seven each. The top five listed cities are New York City with 44 companies, Houston with 23, Atlanta with 14, Dallas with 11 and Chicago with 10.

Not bad for Richmond at all...

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Media General to buy 4 NBC stations

In a deal worth $600 million, Richmond-based Media General (owner of the Times-Dispatch) has purchased 4 NBC owned affiliate stations...

The NBC stations Media General is purchasing and their Designated Market Areas (DMAs) are: WNCN in Raleigh, N.C., #29; WCMH in Columbus, Ohio, #32; WVTM in Birmingham, Ala., #40; and WJAR in Providence, R.I., #51. All four stations are ranked among the top three in their respective markets. Three of the markets are state capitals and all four are major university communities.
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Mead/Westvaco's Chairman and CEO, John A. Luke, Jr., has purchased Dave Martin's estate called Oakleigh Farm in Goochland County for $2.95 Million.

David Martin founded the ad agency now known as Martin.

The estate includes 22 acres, a 6096 s/f manor home, has a pool house, guest house, tennis court, small stable and a pond.

This news, IMO, does not bode well for a downtown location of M/WV headquarters when one considers that Mr. Luke could roll out of bed and be at work in West Creek within minutes. :dontknow:

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