The Rise of Industrial: Supply, Demand & the Emerging Trends in Richmond

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  Mark Stiles

  Mark Stiles, a Partner at PNK Group, is a seasoned leader with an extensive background spanning over thirty years in international real estate. PNK Group is an engineering and production company which conducts technological development in the field of industrial construction. PNK Group as an investor finances the implementation of its projects, as a developer organizes construction, as an engineering company designs the building and as a general contractor erects multipurpose industrial buildings from large-unit blocks produced at its own plants. Mark served in the United States Marine Corps, graduated from the University of Georgia (BBA) and completed the Advanced Management Development Program (AMDP) for real estate at Harvard University Graduate School of Design. He serves on the Board of the Special Forces Trust.

  PNK Group

  Partner

  Mark Stiles

  Partner

  PNK Group

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  Nicholas Smith

  Partner

  DSC Partners

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  Patrick Keeley

  Patrick is a Co-Founder and Managing Partner of Portsmouth Real Estate Partners, where he leads the firm’s industrial investment strategy. Patrick has over 20 years of experience spanning real estate private equity, vertically integrated real estate operator/developer, public REIT, investment banking, and equity capital markets. Prior to founding Portsmouth, Patrick was a Managing Director at Morgan Stanley Real Estate Investing (“MSREI”). At MSREI, he was responsible for overseeing industrial development in the U.S. and led acquisitions in the Mid-Atlantic and portions of the Southeast across the opportunistic, core, and net REIT vehicles. Patrick received an undergraduate degree in Economics from Dartmouth College and an MBA with Honors from The Wharton School of the University of Pennsylvania where he majored in Real Estate and Finance. He lives in Bethesda, Maryland with his wife and their four children.

  Portsmouth Real Estate Partners

  Co-Founder & Managing Partner

  Patrick Keeley

  Co-Founder & Managing Partner

  Portsmouth Real Estate Partners

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  Zach Jung

  Managing Director

  Matan Companies

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  Elliott Byers

  Director

  Brinkmann Constructors

• Moderator

  Amy Marsden

  Managing Director

  Colliers

The Future of Richmond: An Update on the Region's Latest Major Projects

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  Joe Marchetti, III

  Joe Marchetti, III is a seasoned developer with a diverse background in the finance and commercial real estate industries. With over 15 years of experience and $600 Million+ of development projects over the past few years, he has established himself as a dynamic leader with a keen eye for identifying excellent investment opportunities and successfully executing complex, large-scale projects. Marchetti Development is currently overseeing the development of Kinsale Center, a new $700 million, corporately anchored, mixed-use project, in addition to other industrial and multifamily projects in the Central Virginia region. Kinsale Center will include over 500k SF of Corporate Office, 300+ new Hotel Rooms, 500+ Multifamily units and additional retail opportunities. Joe is a graduate of the University of Virginia and lives in Richmond with his wife and 3 children.

  Marchetti Development

  President

  Joe Marchetti, III

  President

  Marchetti Development

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  Tarvaris McCoy

  Principal

  The Real McCoy Companies

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  Loretta Cataldi

  Loretta Cataldi has joined Divaris Real Estate as Principal and Managing Broker for the Richmond office. Besides her role, she specializes in all aspects of sales and leasing for tenants and landlords throughout the Mid-Atlantic. Loretta has executed over four million square feet of commercial space over her twenty-plus year career. She brings experience in Leasing, Development, Landlord Representation, Land Sales, Tenant Representation, Site Selection, Expansion Strategies to the Retail, Office, and Industrial sectors of commercial real estate. Her previous experience includes Property Management. A sampling of representation includes; Saul Centers, Holladay Properties, Madison Properties, Holland Trust Properties, Whitestar Investment, VEREIT, ShopCore, CIM Group, Clayco, Douglas Development, Regency Centers, Ramco-Gershenson, Café Rio, Anytime Fitness Brands, Stumpy’s Hatchet House, Huddle House Invisible Ink, Bojangles, Earth Fare, Wells Fargo, New York & Company, Growler U, and Meritage Hospitality to name a few. She knows networking is a critical element to building one’s knowledge and relationships within the real estate industry. Loretta is actively involved with multiple organizations such as the International Council of Shopping Centers (ICSC), Urban Land Institute (ULI), Commercial Real Estate Women of RVA (CREW), and Greater Richmond Area Commercial Real Estate (GRACRE). Loretta is a licensed broker in Virginia, Maryland, and the District of Columbia.

  Divaris Real Estate

  Principal

  Loretta Cataldi

  Principal

  Divaris Real Estate

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  Merrick Malone

  Director, Department of Housing & Community Dev

  City of Richmond

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  Anita Begnaud

  Anita Begnaud is a dynamic leader known for her strategic vision, collaborative approach, and ability to drive meaningful economic growth. With over a decade of experience across local, regional, and state-level economic development, she has built a reputation for delivering results through innovation and leadership. In her current role as Vice President of Marketing & Communications at the Virginia Economic Development Partnership (VEDP), Anita leads the Commonwealth's efforts to promote Virginia as America’s Top State for Business. She oversees integrated marketing strategies that showcase Virginia’s competitive advantages, including digital branding, trade show engagement, and site consultant outreach. Her leadership ensures that VEDP remains a key driver in attracting transformative business investments and creating high-quality jobs across the state. Anita’s previous role as CEO of the Downtown Development Authority (DDA) and Downtown Lafayette Unlimited in Lafayette, Louisiana, highlighted her ability to foster community revitalization. During her tenure, the district saw unprecedented growth, with over 60 new businesses opening and occupancy surpassing 90 percent. She also championed residential development, resulting in nearly 200 new housing units and laying the groundwork for long-term community vibrancy. Her earlier roles in marketing, communications, and government relations with One Acadiana, along with her foundational experience as a research associate and intern in Lafayette's economic development organizations, equipped her with a deep understanding of business attraction and community growth. Recognized for her leadership and impact, Anita has received numerous accolades, including the Women Who Mean Business Award, Women Making a Difference Honor, and the 20 Under 40 distinction. She is also a recipient of the 40 Under 40 in Economic Development Award, the Leadership Institute of Acadiana Ignite Leadership Award, and was named the inaugural Business Catalyst of the Year. Anita earned her Bachelor of Arts in Organizational Communication from the University of Louisiana at Lafayette.

  Virginia Economic Development Partnership

  VP

  Moderator

  Anita Begnaud

  VP

  Virginia Economic Development Partnership

Opening Remarks

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  Rex Smith, III

  Mr. Smith currently serves as Regional President of United Bank in Southern Virginia.  Prior to United Bank’s acquisition of Essex Bank in 2021,Mr. Smith was the President and Chief Executive Officer of Essex Bank since September 2010. From April 2009 to August 2010, he served as the Bank’s Executive Vice President and Chief Administrative Officer. From 2007 to 2009, he was the Central Virginia President for Gateway Bank and Trust and, from 2000 to 2007, he was President and Chief Executive Officer of The Bank of Richmond. Prior to that Mr. Smith held Executive positions at Guaranty Bank in Charlottesville Virginia and with Central Fidelity Bank in Richmond, Virginia. He has a B.A. in Economics from the University of Virginia and a Masters of Business Administration from the University of Richmond where he was an Honors Member of Beta Gamma. He is a published author on many banking topics such as; branch banking, transfer pricing methodologies and retail profitability analysis in the American Banker, ABA Marketing Journal and, the Community Banker. Mr. Smith formally served on the Boards of the March of Dimes and Children’s Hospital of Richmond. He is currently a Board member of Bankers Insurance, LLC.

  United Bank

  Regional President

  Rex Smith, III

  Regional President

  United Bank