Business in brief - Jan. 18, 2021

Allegiancy recently announced that it had sold The Midtown Office Portfolio in Henrico for $19.2 million to Midtown Richmond, LLC. The three-building portfolio includes 155,000 square feet of office space at 2235 Staples Mill Road (One Holland Place) and 5540 and 5516 Falmouth Street (Vistas I and II). The buildings are 92% leased to tenants that include Kroger, PPD, Commonwealth of Virginia and Azura Vascular Care. Will Bradley and Mark Williford of Colliers International represented the seller.

Tennessee-based Sevier County Bank Chairman John Presley has chosen Innsbrook to launch Southern Community Bank in the Richmond market. Although operating under the same umbrella as Sevier County Bank, Southern Community Bank will be developed as a distinct brand. Presley was the former chairman of First Capital Bank which previously made its home in Innsbrook. The Innsbrook office, located at 4421 Cox Road, is already funding loans and is expecting to accept deposits by the second quarter.

Colliers International recently announced that Jessica Butterworth has been appointed partner at Colliers International Virginia. Butterworth is the director of engineering services, a leadership position she assumed in 2018. As partner, Butterworth will continue to oversee building engineering services business development, assignments, hiring and compliance with federal, state, and local codes. She will continue to work on a portfolio of more than 750,000 square feet of Class A federally leased assets across Virginia, where she works alongside government agencies such as the U.S. State Department, Federal Courts and the FBI. Butterworth joined the firm in 2007 as an office manager and has received numerous promotions including assistant property manager, property manager and building services coordinator. Butterworth is an active member of the Institute of Real Estate Management working on the local community service committee. In addition, she is a Certified Property Manager candidate with IREM, a Real Property Administrator candidate with BOMA International and is involved with other local community service efforts.

Bellwood Credit Union recently added a new branch on the Defense Supply Center of Richmond’s campus. The DSCR branch consists of a modern banking experience, Shared Branch services and a membership that is open to the entire DSCR workforce. Bellwood Credit Union, a division of Henrico Federal Credit Union, has a 60+ year relationship with DSCR. Originally, the Q.M. Depot Federal Credit Union, now named Bellwood Credit Union, was chartered in 1951 to serve the government and civilian employees of Defense Supply Center of Richmond in Chesterfield County. In 2012, Bellwood Credit Union merged with Henrico Federal Credit Union. The Bellwood name was retained to further acknowledge the commitment to DSCR and the surrounding community.

EXIT First Realty recently announced the addition of Charlotte De Poulpiquet, Tavian Anderson, Stephen Spiers, Rohit Karnati, Tammy Mauldin, Kristina Clague and Kelsey McCourt to its team of real estate sales professionals. The agency is located at 11207 Nuckols Road in Glen Allen.