MGT Construction, a subsidiary of Cushman & Wakefield | Thalhimer, is shutting down operations after nearly three decades, in the wake of a lawsuit filed in October against top executives of the Henrico County-based commercial real estate company.
“MGT is experiencing financial challenges,” said C. Lee Warfield III, chairman, president and CEO of Thalhimer. The contracting company is still operating but not pursuing new projects and it is working to complete existing ones, he said.
Warfield said MGT Construction is a separate corporate entity, distinct from Thalhimer, which has been part of the Richmond community for more than 100 years, and its Thalhimer Realty Partners subsidiary.
