Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, January 1, 1993 TAG: 9301010117
SECTION: BUSINESS PAGE: A-5 EDITION: HOLIDAY
SOURCE:
DATELINE: LENGTH: Medium
IN BUSINESS
Atlanta group buys shopping centerIRT Property Co., an Atlanta real estate investment trust owning shopping centers in the Southeast, said Thursday it has purchased the Symth Valley Shopping Center in Marion.
It was one of seven neighborhood and community shopping centers in Georgia, Florida, North Carolina, Tennessee and Virginia that IRT purchased from subsidiaries of IBM Retirement Plan Trust Fund. The total purchase price of all of the centers was $61.3 million.
- Staff report
Valley Motorsport expanding facility
Valley Motorsport is expanding its Peters Creek Road facility.
The 9-year-old car dealership is adding a 7,000-square-foot service and showroom area to house the Subaru and Volkswagen dealerships. The new building will be next to the existing dealership.
The new facility, which is being built by Avis Construction Co. Inc., is scheduled to be completed in early spring.
- Staff report
Penn Virginia buys gas properties
PHILADELPHIA - Penn Virginia Corp., a Philadelphia-based natural resources company with extensive land holdings in the Southwest Virginia coalfields, has bought the southern West Virginia natural gas properties of Sonat Corp. for $20.3 million.
The acquisition includes 52,000 acres and 198 producing wells with daily production of roughly 6.7 million cubic feet per day. The property has proven reserves of 55 billion cubic feet.
The acquisition more than doubles Penn Virginia's reserve base and is an important step toward achieving the company's goal of becoming a significant Appalachian natural gas producer, the company said.
- Staff report
Holiday closes stock, financial markets
U.S. stock and financial markets will be closed today for the New Year's Day holiday. The Roanoke Times & World-News will not publish business pages on Saturday. Sunday's Business section will include a special section with year-end summaries for major stock markets and mutual funds.