Six Companies Announce Plans to Grow in Virginia Beach
Nearly 300,000 square feet of commercial space absorbed
Six companies announced plans to take down nearly 300,000 square feet of combined space in Virginia Beach through expansion or relocation, including the US subsidiary of a Chinese manufacturer of electric lawn and garden tools. At least 183 new jobs are expected to be created.
Sunrise Global Marketing, LLC is the marketing and distribution arm of Globe Tools, a Chinese manufacturer of electric lawn and garden tools and consumer power tools. Headquartered in Mooresville, NC, the company has leased 218,000 square feet of warehouse space at 2600 International Parkway in the Oceana West Corporate Park and will move its distribution operations to Virginia Beach.
Point One USA, LLC, a service-disabled veteran-owned small business founded in 2013, will expand its operations in Virginia Beach. The company is purchasing 3121 Holland Road, a 1.104-acre site with an 8,400-square-foot facility. The expansion will create six new jobs in Virginia Beach and retain the existing 22 full-time positions in the City with average annual salaries exceeding $80,000.
Architectural Graphics Inc. (AGI), will expand into an additional 50,000 square feet of manufacturing space located at 2600 International Parkway. The total square footage in the City will be 320,208. The company currently has 580 employees nationwide with more than 420 employees in Virginia Beach. Within 48 months of the expansion, 45 new jobs will be added in Virginia Beach with average annual salaries of $43,000. AGI will also make a $750,000 capital investment in real estate improvements, property and equipment.
Anchor Innovation, Inc., a service-disabled veteran owned small business with 42 employees nationwide, will expand their small craft maintenance operations within Virginia Beach. As part of the expansion, the company will create 15 new jobs. The company has purchased 532 Central Drive a 9,432-square-foot building that will support the growth of their small craft maintenance and repair business. The new personnel annual salary will average $80,000.
Chantel Ray, a woman-owned residential real estate company founded in 2011, has announced plans to relocate its corporate headquarters within Virginia Beach and expand to a national franchise operation. The expansion will create 87 new jobs. The company has purchased 5308 Indian River Road in Virginia Beach, which includes a 3,652-square-foot building to serve as its national headquarters. Chantel Ray currently has 125 real estate agents and 24 salaried employees. It will add 87 new salaried and commissioned employees with salaries above $39,117.
Young Veteran’s Brewing Company, a locally-owned microbrewery established in Virginia Beach in 2012, will triple the size of its footprint in the city, expanding by an additional 6,000 square feet. The company will also add five new jobs and invest $700,000.
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