Business news from the Fredericksburg region.

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Vakos affiliate buys land in Spotsy

An affiliate of area development firm W.J. Vakos & Co. last month bought 145 acres in Spotsylvania County’s courthouse area.

The Vakos affiliate paid $1.2 million for the land, which includes the remainder of the Courthouse Commons subdivision. The land is off Courthouse Road and near the Confederate Cemetery and new public safety building.

Affiliates of W.J. Vakos & Co. own a large amount of land in that area, where the company is developing Spotsylvania Courthouse Village.

Company President Bill Vakos III said in an email that his firm is “studying the best uses” for the property it bought last month, “including different types of residential units.”

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