- Biz Beat Roundup will take a summer holiday after today and will return July 30.
- Diamond Baseball Holdings (DBH) last week closed on the purchase of the Fredericksburg Nationals from the Silber family. DBH now owns 45 of the 120 Minor League Baseball teams that are affiliated with Major League Baseball, according to its website. The FredNats will remain the Single-A affiliate of the Washington Nationals and stay in Fredericksburg at the Virginia Credit Union Stadium. DBH will retain the FredNats’ existing front-office staff, led by General Manager Robert Perry. Seth Silber will remain with the club as its president and a minority shareholder.
- There were 80 homes sold last week in the Fredericksburg region, according to the Fredericksburg Area Association of Realtors, including four seven-figure deals. Check back weekly for the new list.
- The owner of the Volvo and Mercedes-Benz dealerships in Fredericksburg purchased two additional properties along Fall Hill Avenue last month. Dealership owner Clay Huber, via RH Luxury LLC, last month purchased the two houses at 1900 and 1910 Briscoe Lane for $590,000 and $775,000, respectively, according to Fredericksburg’s monthly deed transfer report. Last fall, RH Luxury LLC purchased a 4-acre parcel adjacent to those houses along Fall Hill Avenue and next to the Volvo and Mercedes-Benz dealerships. The two additional houses added an acre of contiguous land to the initial purchase, giving RH Luxury control of a roughly 5-acre parcel bordered by Noyack Lane, Shadmoor Drive, Briscoe Lane and Fall Hill Avenue. Huber has said that his Volvo and Mercedes dealerships are out of space, and the additional land provides an opportunity to better serve his customers and invest for the future. A mixed-use development is planned next to the parcel Huber owns along Fall Hill that could potentially include a Trader Joe’s.
- SimVentions co-founder Larry Root will step down as CEO of the Stafford County-based business this month following 25 years in that role. Root will remain chairman of the SimVentions Board of Directors. SimVentions’ current president, Joe Caliri, will succeed Root as CEO.
- Dimas Downtown is the focus of this week’s Biz Beat Clips video. Owner Heidi Dimas plans to re-open the event space at Fredericksburg Square in downtown Fredericksburg.
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- Longtime PermaTreat Pest and Termite Control owner Joe Wilson is the guest on this week’s edition of the Biz Beat Banter podcast.
- An organization called The Colosseum Sports Resort is raising investment capital for a Stafford-based indoor and outdoor sports and recreation facility that its website says will open in late 2027. The project will cost $110 million and have facilities for swimming, volleyball, indoor-climbing, soccer, football and more, according to the website. Stafford Chief Information Services Officer Andrew Spence said the county “has no known application or purchase of land by this group.” No further information was available.
- Virginia Premier Realty LLC recently purchased a 4,050-square-foot former daycare building at 415 Chatham Square Office Park in Stafford from Kenneth S. and Leigh Ann Kroko for $700,000, according to Coldwell Banker Commercial Elite, which helped broker the deal. The new owner plans to transform the space into a medical facility.
- Coldwell Banker Commercial Elite reported the following recent leases:
- 77 Barbershop, 5,940 square feet of retail space at 1120 International Parkway in Stafford
- Fountain of Life International, 1,250 square feet of retail space at 4705 Plank Road in Spotsylvania
- InSite Real Estate Investment Properties LLC recently bought the 3.34-acre vacant site at 919 Maple Grove Drive in Spotsylvania’s Westpark Corporate Center from Hilldrup Properties for $945,000 and will develop the property, according to Cushman & Wakefield | Thalhimer, which helped broker the deal.
- A Fredericksburg-area entity called Virginia Hard Money LLC was recently formed to provide short-term loans to fund residential and commercial real estate investment projects in Virginia, North Carolina and South Carolina.
- Johnson Realty Advisors reported the following recent commercial leases:
- Code 1 Training Solutions, 200-square-foot office at 181 Kings Highway in Stafford
- Continental Transport, 10,683-square-foot industrial space at 3550 Lee Hill Drive in Spotsylvania
- Dr. Saif Kargoli, 3,400-square-foot medical-office space at 10039 Patriot Highway in Spotsylvania
- Johnson Realty Advisors reported the following recent commercial sales:
- Megviv RE Holdings to Hardways LLC, 1280 Central Park Blvd. in Fredericksburg (10,578-square-foot Chuck E. Cheese building on 2.1-acre lot), $2.1 million
- Hertenstein Investment Group to Bobby Thibideau, 14140 Salem Church Road in King George County (7,500-square-foot building and 57-acre lot), $675,000
- Midland Property Group to HomeQuote LLC, 6072 Riverview Drive in King George (4,000-square-foot building on 0.3-acre lot), $420,000
Biz Beat Roundup runs every Wednesday morning and includes a roundup of business news from around the Fredericksburg region. Send submissions to: [email protected]
