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Recent Articles from Sydney Lake
Nearly 400K Virginians remain unemployed
Nearly 400,000 Virginians are still unemployed following the economic fallout from the COVID-19 pandemic, though the number of initial jobless claims in the commonwealth continues to decrease. About 31,000 Virginians filed initial claims for unemployment last week, down from roughly 49,000 the prior week, according to the Virginia Employment Commission (VEC). The state’s weekly unemployment[...]
Hotels saw 66% revenue drop in late May compared to 2019
Suffering the economic impacts of the coronavirus pandemic, Virginia hotels saw revenues drop 66% for the last week in May compared to the same time a year ago, according to findings released Wednesday by Old Dominion University‘s Dragas Center for Economic Analysis and Policy. Rooms sold were also down by 50% and the average daily […]
Arlington government contractor names chairman
Arlington-based federal contractor Govini announced Monday that former Deputy Secretary of Defense Robert O. Work has been elected as chairman of its board of directors. Work served as the 32nd deputy defense secretary from 2014 to 2017. He was under secretary of the Navy, the service’s second-highest ranking civilian position, from 2009 to 2013 and […]
Private equity firm to acquire Herndon tech company
Herndon-based tech company Exostar LLC announced Tuesday it will be acquired by private equity firm Thoma Bravo LLC. The transaction amount was not disclosed. Exostar is a cloud-based platform that allows companies to securely share information and operate with security compliance. The platform is used by more than 135,000 aerospace and defense organizations across 150 […]
Texas company starts building second data center in Ashburn
Plano, Texas-based data center infrastructure company Aligned Energy LLC has started construction on its second data center in Loudoun County’s Ashburn area, the company announced Tuesday. Aligned finished construction on its first 370,000-square-foot, 60-megawatt data in 2019. The new data center will add 513,000 square feet and 120 megawatts to the existing campus. “The first […[...]
Fairfax medical office building sells for $4.6M
A medical office building in Fairfax County’s Merrifield area has sold for $4.6 million, Toronto, Canada-based commercial real estate company Avison Young Inc. announced Monday. The five-story, 53,430-square-foot building is 37% leased to several medical practices, says Avison Young Principal Jim Kornick, who led the sale on behalf of the seller, Harrison Street Real Estate. […]
McLean telecom CEO steps down
Richard D. Calder, president and CEO of McLean-based telecommunications company GTT Communications Inc., left the company on Monday, June 1. He had been the president and CEO since 2007. “We appreciate the many accomplishments Rick has achieved since joining GTT as CEO in May 2007 over 13 years ago,” H. Brian Thompson, GTT executive chairman, […]
Rappahannock Electric Cooperative CEO to retire
Fredericksburg-based Rappahannock Electric Cooperative (REC) announced Tuesday that president and CEO Kent D. Farmer, who has served since 2004, will retire Aug. 1. He has been with the company for a total of 41 years. “It has been my honor and privilege to lead REC and to serve its membership for the past 16 years,” […]
Gilbane Building Co. names Richmond office head
Construction industry veteran Colin Robinson — who’s had a hand in some of Richmond‘s most prominent redevelopment projects, including the Virginia State Capitol, the Altria Theater and Carpenter Theatre — will head Gilbane Building Co.’s Richmond office. Robinson succeeds Matt Sarver, who will become the vice president and business unit leader at the company’s Washingt[...]
Mask mandate is a ‘personal responsibility,’ Northam counsel says
As Virginia’s mask mandate goes into effect Friday, both Gov. Ralph Northam and Rita Davis, counsel to the governor, told residents Thursday that it’s their personal responsibility to wear a mask in businesses and other enclosed public places. Davis clarified the enforcement process of Executive Order 63, which requires face coverings in public, saying that there […]
