Hello, Cardinal News readers. Welcome back to Cardinal Commerce Notes, our regular feature catching you up on various recent business news items.
If you missed the previous edition, check it out here to learn more about some recent notable property sales and a small business event coming up in Danville.
I’m always on the lookout for news tips. Please email me at matt@cardinalnews.org or connect with me on LinkedIn and message me there.
Botetourt County firm to add 30 jobs with focus on building safe rooms
Croy Contracting, a Botetourt County-based construction firm, will invest $3.45 million to create CroySafe, a new division specializing in safe rooms.
The expansion is anticipated to create 30 new jobs over two to three years in skilled trades, manufacturing, installation, operations and administrative roles.
Safe rooms offer homeowners shelter during severe weather or break-ins, along with storage for valuable items. They offer businesses refuge from threats such as intruders and fires, as well as storage for money, sensitive files and other assets, according to a recent news release.
“For more than 35 years, we’ve built our reputation on quality work and strong relationships. This new division gives us the chance to use that experience in a way that helps people feel safer and more prepared in their homes and businesses,” Croy Contracting owner Eric Croy said in the release.
First Piedmont Corp. names new CEO, VP
First Piedmont Corp., a Chatham-based waste management company serving Central and Southside Virginia and part of northern North Carolina, has named a new CEO, Edward Martin.
Martin previously served as executive vice president and head of wholesale banking operations at Atlantic Union Bank. Before that, he spent eight years at American National Bank & Trust, according to a Thursday news release.
The company also announced that Raines Wall will be vice president of operations. Wall joined First Piedmont as an intern in 2020 and served in two other positions before his latest promotion.
Ben Davenport Jr., First Piedmont’s chairman, served as acting interim CEO before Martin’s hiring.
“They each know how to lead, how to take care of people, and how to show up for community,” Davenport said of Martin and Wall in the news release. “They aren’t afraid to roll up their sleeves to get it done. This mindset fits right in with who we are and who we will continue to be at First Piedmont.”
Lynchburg gaming store reopening after fire
A Lynchburg hobby shop is reopening in a new location following a fire earlier this month.
Dragon Fire Games said in a social media post that it is now located at 408 Federal St., the site of a former Family Dollar store.
Dragon Fire Games specializes in tabletop gaming, collectible cards and miniatures.
The store said in its post that on the morning of April 2, someone broke in, stole merchandise, spread gasoline around and set the store on fire. Police have apprehended a suspect, according to the post.
Three apartment complexes in Roanoke County sold
A portfolio of apartment properties totaling 35 units in Roanoke County recently sold for $3.05 million, according to the real estate firm Cushman & Wakefield | Thalhimer.
The properties were Vinton Manor Apartments at 301 E. Cleveland Ave., which has eight units; Garden View Apartments on Blanton Avenue, which has 12 units; and Ridgeview Apartments on Marlou Street, which has 15 units.
Mid Atlantic Funding, LLC bought the portfolio on March 25 from three related entities, which were represented by Clay Taylor of Cushman & Wakefield | Thalhimer’s Capital Markets Group.
Are you a real estate broker with a recent notable sale to share? Please send your tips my way: matt@cardinalnews.org.
Appalachian Power finalizes New River Valley transmission line route
Appalachian Power has finalized its proposed route for a project to upgrade 18 miles of 138-kilovolt electric transmission line between Pulaski and Floyd counties.
The goal is to improve service in Floyd, Montgomery and Pulaski counties, the electric utility said in a news release. The current transmission line dates to the 1940s.
Appalachian said it decided the route after reviewing landowner and community feedback following the project’s announcement last year. A utility spokesperson said that Appalachian has not yet determined the project’s cost.
The project requires approval from the State Corporation Commission, which the utility anticipates will come next summer. Construction would start in fall 2029 and finish in late 2032.
A map is available at the utility’s project website, AppalachianPower.com/Claytor.
That’s a wrap for this week. Do you know of a new business expanding or relocating in your town? Excited about a restaurant opening up soon? Maybe you’ve got an update on a story we’ve reported before. Please send me your tips and suggestions: matt@cardinalnews.org or connect with me on LinkedIn.
