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BizSense Beat: October 18, 2024

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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 October 18, 2024:

Insurance giant Allianz nabs naming rights for new riverfront amphitheater
Reported by Richmond Bizsense’s Jonathan Spiers

Weeks after Richmond’s new baseball stadium scored its naming rights deal, the city’s new riverfront amphitheater has landed a title sponsor of its own.

Allianz Partners, which has a major office presence locally and provides event ticket insurance through venue promoter Live Nation Entertainment, was announced Tuesday as the lead sponsor for the now-named Allianz Amphitheater that’s under construction on the hillside next to Tredegar.

Officially dubbed Allianz Amphitheater at Riverfront, the $30 million facility is expected to open in June and is a joint venture between Live Nation and Coran Capshaw’s Charlottesville-based Red Light Ventures.

The naming rights deal is for 10 years, Allianz spokesman Daniel Durazo said. Other terms of the deal were not disclosed at a press event held at the site Tuesday morning

EAT Restaurant Partners to open new spots in Short Pump, Forest Hill
Reported by Richmond Bizsense’s Mike Platania

It’s shaping up to be a busy fall for EAT Restaurant Partners.

The local restaurant group recently signed a lease to open a location of its sushi restaurant Lucky AF at 4701 Forest Hill Ave. The first Lucky AF location opened in Scott’s Addition in 2020.

EAT also is working on a new, mystery concept at GreenGate in Short Pump, according to a recently submitted plan of development in Henrico County.

This all comes just a few weeks after EAT purchased a plot of land in Hanover where it’s planning to build a new location for its Wong’s Tacos.

The Forest Hill Lucky AF will occupy about 3,900 square feet in The Evelyn, a new, mixed-use building from local firms Evolve Development and Dodson Development Group that’ll also bring 40 apartments to the neighborhood.

EAT president Chris Tsui said the restaurant group has been in discussions for the new Lucky AF for about a year.

Long-vacant Extreme Pizza storefront on Broad lands new tenant
Reported by Richmond Bizsense’s Mike Platania

After sitting idle for nearly six years, the former Extreme Pizza storefront near VCU has been snapped up.

Wingstop, a chain of chicken wing restaurants, is planning to open a location at 941 W. Broad St., according to planning documents recently filed with the city.

The space has been vacant since Extreme Pizza closed in early 2019 after at 14-year run.

Several building permits were filed in recent weeks to finish out the space for Wingstop. The listed architect on the permits is Wilkus Architects, a Minnesota-based firm that’s designed hundreds of Wingstops around the country.

Wingstop spokespeople did not respond to multiple requests seeking comment.

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