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Recent Articles from Katherine Schulte
Va. CEOs expect sales, employment to increase
Almost 70% of CEOs expect sales to increase over the next six months, and about 60% expect employment to increase, according to a third quarter survey conducted by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs (VACEOs). Compared to answers from the CEO Economic Outlook Survey conducted at the […]
Arlington agriculture nonprofit names first president and CEO
Arlington-based sustainability agriculture nonprofit Leading Harvest announced Friday that it has named Kenny Fahey as its first president and CEO. Fahey, who works remotely from Seattle, has been Leading Harvest’s executive director since its launch 18 months ago. He has enrolled more than 1.3 million acres across 29 states in the organization’s Farmland Management Standard […]
Petersburg retail centers sell for $10.25M
Two neighborhood retail centers in Petersburg sold for $10.25 million on Oct. 15. The two properties total 192,510 square feet and occupy 24.9 acres. Located at 3330 S. Crater Road, South Crater Square is 82.7% leased and anchored by Rose’s, with Walmart Supercenter as a shadow anchor. Pinehill Plaza, located across the street at 3333 […]
Va. unemployment rate dropped to 3.8% in September
In September, Virginia’s unemployment rate fell to 3.8%, 0.2 points below August’s rate, Gov. Ralph Northam announced Friday. The state’s unemployment rate has declined for 16 months straight. In September 2020, the jobless rate was at 6.6%, 2.8 points higher than last month. The labor force decreased by 3,859 to 4.2 million, but the number […]
Breeden Construction to build $38.9M apartment complex additions
Virginia Beach-based real estate development firm The Breeden Co.’s general contracting company announced Thursday that it has been contracted to develop the $38.9 million second phase of Center West Apartments in Midlothian, not far from the Westfield Commons Shopping Center. Charlottesville-based Castle Development Partners owns the multifamily project, which was referred to as Watkins Centre [...]
Norfolk cruise terminal begins work on $2.6M cruise ship gangway
Nauticus began construction on its $2.6 million cruise ship gangway in Norfolk this week, it announced Wednesday. The new boarding system will accommodate larger cruise ships, like the Carnival Magic, which is set to sail from Norfolk in 2022. Nauticus expects to have more than 180,000 cruise ship passengers in 2022. Swedish company Seawing PBB […]
Va. new jobless claims drop under 2,000
Virginia’s new unemployment claims fell dramatically last week, the Virginia Employment Commission reported Thursday. For the filing week ending Oct. 16, Virginians filed 1,967 initial claims, a decrease of 7,380 claims from the week before. Continued claims totaled 58,421, an increase of 11,954 claims from the previous week. Compared to the same week last year, […]
Fed says Fifth District economy sees moderate growth
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered from the 12 Federal Reserve […]
Mac Curtis joins Blue Delta Capital Partners as venture fellow
Mac Curtis, the former chairman, president and CEO of Perspecta Inc., has joined McLean-based government services equity firm Blue Delta Capital Partners as a venture fellow. Herndon-based national security contractor Peraton Inc. acquired Chantilly-based federal IT contractor Perspecta in May for $7.1 billion. Curtis took Perspecta public in 2018 by merging his company, Vencore Inc., […]
Va. hotel revenues remain below 2019 levels
Virginia hotel revenues for September decreased by 21% compared with pre-pandemic levels in September 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 6%. The average daily rate (ADR) paid for hotel rooms […]
