BizSense Beat: November 1, 2024
BizSense Beat is a weekly collaboration between VPM News and Richmond BizSense that brings you the top business stories during NPR's Morning Edition on Fridays.
Here’s a recap of the top stories for the week of November 1, 2024:
Thalhimer now leading Diamond District solo after development partner bows out
Reported by Richmond Bizsense’s Jonathan Spiers
As Richmond-based Thalhimer Realty Partners and Chicago-based Loop Capital fend off a $40 million lawsuit from one of their former teammates in the Diamond District development, it turns out that Loop is also no longer involved in the high-profile project.
An attorney for Loop confirmed to BizSense last week that the firm is not participating in the project, leaving Thalhimer the sole principal of Diamond District Partners LLC – the development group responsible for the mixed-use portion of an overall project that includes a new ballpark to replace The Diamond.
The anchor ballpark, currently underway, is being developed separately by the Richmond Flying Squirrels.
Dickie’s Seafood goes out of business, looks to sell longtime Northside facility
Reported by Richmond Bizsense’s Michael Schwartz
Unable to fully regain its momentum after a 2020 fire gutted its longtime Northside facility, Dickie’s Seafood has boiled its last shrimp.
The nearly 50-year-old Richmond company, known for its deviled crab and boiled shrimp that was sold in grocery stores, has ceased operations and is in the process of selling off its assets, including its 16,000-square-foot building at 1508 Brook Road.
Frank Fay, Dickie’s CEO, told BizSense in an interview earlier this month that the closure was due to a combination of factors sparked by the fire, related legal battles with insurance companies, the pandemic’s effects on the economy and subsequent consumer inflation.
Shake Shack is coming to Short Pump
Reported by Richmond Bizsense’s Mike Platania
Short Pump is getting a Shake Shack.
The New York-based burger chain is preparing to open a new location at West Village, a mixed-use development that’s under construction at 12170 W. Broad St.
A Shake Shack spokeswoman confirmed the company’s plans for the Short Pump outpost, which will be its third in the Richmond area.
The publicly traded burger chain has more than 500 locations worldwide and has been on an expansion kick in recent years. It first came to the Richmond area in 2022 with a location at the Willow Place shopping center and added a second in Midlothian near Chesterfield Towne Center earlier this year.
The spokeswoman said Shake Shack does not yet have a specific opening timeline for the Short Pump location.
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