THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, April 19, 1996 TAG: 9604170124
SECTION: PORTSMOUTH CURRENTS PAGE: 18 EDITION: FINAL
TYPE: Business
LENGTH: Medium: 55 lines
JIF SITE SOLD - The former JIF Peanut Butter plant at 3600 Elm Ave. has been bought by Boardwalk Manufacturing Co. Inc.
The 110,000-square-foot building, on a 21.4-acre site, was sold by Procter and Gamble at auction in December 1994 to a group of Tennessee investors known as the Portsmouth Partnership, which sold it recently.
The new owners have said they will use the building to manufacture unfinished furniture and for warehousing.
One of the new owners is Howard Adkins, owner of Unclaimed Freight.
Adkins would not reveal specifics of the plans for the property.
THE TAR HOUSE - A small octagonal structure, dating to 1834 and believed to be the oldest existing building at Norfolk Naval Shipyard, has been turned into a small shop near Trophy Park.
The shop will sell magazines and snacks, souvenirs and other items that appeal to sailors stationed aboard ships in the yard.
It will be open 10 a.m. - 2 p.m. Monday-Friday. When TRT tours of Olde Towne and the Navy yard begin Memorial Day weekend, the shop also will be open on weekends.
The Tar House, a National Historic Landmark, once was used for the storage of tar.
RESITECH - Ambassador Enterprises Inc., 900 High St., expanded its operations to include residential home theater and home automation systems, also known as ``Resitech.''
Residential automation encompasses home theater, multi-room sound and video, patio and pool sound, security/life safety, telephone and data communications, automated dimming, motorized drapery and specialized environment and utility controls.
Ambassador customizes all of the systems for each client.
HOME SALES - The Residential DataBank, a market research firm in Virginia Beach, indicated that Portsmouth is holding its own in the real estate market.
In the first two months of 1996, Portsmouth posted an increase in new home sales of 32 percent over the same time last year. The figure compares to a 44 percent increase in Virginia Beach and a 40 percent increase in Suffolk. Chesapeake showed a 22 percent decrease.
New construction is having an impact here and in Suffolk. Resale transactions accounted for 87 percent of the action in Virginia Beach and 78 percent in Chesapeake but resales were only 63 percent of the total in Portsmouth and 60 percent in Suffolk. by CNB