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Norfolk

The $42 million North Gate Complex added 26 new truck lanes to NIT.
Nov 9, 2020

Hampton Roads operator of Downtown and Midtown tunnels sold in $2B+ deal

Elizabeth River Crossings HoldCo LLC, the operator of the Downtown and Midtown tunnels that run between Norfolk and Portsmouth, has been sold to Abertis Infraestructuras S.A. and Manulife Investment Management Ltd., on behalf of John Hancock Life Insurance Co., for more than $2 billion. Elizabeth River Crossings operates four tunnels and a highway in the […]

3950 Chain Bridge Road. Photo courtesy S.L. Nusbaum
Nov 7, 2020

Commercial building in Fairfax sells for $1.8M

A three-story mixed-use commercial building in Fairfax sold for $1.8 million, Norfolk-based S.L. Nusbaum Realty Co. announced this week.  Located at 3950 Chain Bridge Road, The Moore-McCandlish House is a 6,550-square-foot historical building constructed in 1840. The property, which sits on 0.48 acres, was 96% leased at the time of the sale, according to S.L. […]

Nov 5, 2020

Initial jobless claims dropped 16.2% last week

The number of initial jobless claims in Virginia dropped by 16.2% last week, the Virginia Employment Commission reported Thursday, and the number of continued claims was three-quarters lower than its May 16 filing week peak. For the week ending Oct. 31, 10,350 Virginians filed initial claims for unemployment, a decrease of 2,002 from the previous […]

Tim Skeen
Nov 3, 2020

Sentara names senior VP, CIO

Norfolk-based Sentara Healthcare announced Monday it has named Tim Skeen as senior vice president and chief information officer, effective Nov. 9. Skeen most recently worked for Anthem Inc., where he was chief operating officer and had also served as enterprise chief information officer, He oversaw Anthem’s technology and government business divisions.  With experience in enterprise [&helli[...]

Oct 29, 2020

Va. Beach defense contractor wins $229.4M Navy contract

The U.S. Navy awarded Virginia Beach-based QED Systems Inc. a potential three-year, $229.4 million contract to help the branch develop specifications and implement an availability strategy for multiple naval ship classes, the U.S. Department of Defense announced Wednesday. QED Systems will perform support work referred to as “third party planning services” for the Navy’s guided-m[...]

The Pamunkey Indian Tribe plans to build a $500 million casino and resort on the Elizabeth River if Norfolk voters approve the project on the November ballot. Rendering courtesy Pamunkey Indian Tribe
Oct 15, 2020

Baskervill, HKS to lead Norfolk casino design, architecture

The Pamunkey Indian Tribe announced Thursday that Dallas, Texas-based HKS and Richmond-based Baskervill will serve as the architecture team for the tribe’s planned $500 million Norfolk Resort & Casino if city voters approve a Nov. 3 local referendum approving the casino development. Backed by Tennessee billionaire investor Jon Yarbrough, the casino and resort will include […]

Betting on success
Oct 12, 2020

Indigenous trust fund will receive annual Norfolk casino funds

On Virginia’s first state-recognized Indigenous Peoples’ Day, the Pamunkey Indian Tribe announced Monday that its proposed casino in Norfolk would provide between $3.5 million and $4 million each year to the Virginia Indigenous People’s Trust Fund. The proposed $500 million casino and resort is on the Nov. 3 general election ballot in the city of […]

Oct 1, 2020

ODU launches School of Cybersecurity

Old Dominion University on Thursday became the first research university in the country to launch a cybersecurity school offering interdisciplinary degree programs for both undergraduate and graduate students. The university is expanding its existing Center for Cybersecurity Education and Research (CCSER) into the ODU School of Cybersecurity. The school will operate under ODU’s Office of [&h[...]

Americas Best Value Inn Norfolk. Photo courtesy Marcus & Millichap
Sep 25, 2020

Norfolk inn sells for $1.65M

The Americas Best Value Inn Norfolk has sold for $1.65 million, commercial real estate brokerage firm Marcus & Millichap announced Friday.  Built in 1959, the 62-room property sits on a one-acre lot at 1850 E. Little Creek Rd. in Norfolk. Maharishi Dayanand Investment Inc. sold the property to Parmeshwari LLC through a 1031 exchange, which […]

Fenton Childers. Photo courtesy S.L. Nusbaum Realty Co.
Aug 20, 2020

S.L. Nusbaum names VP corporate brokerage, development

Norfolk-based real estate company S.L. Nusbaum Realty Co. announced Wednesday it has hired Fenton Childers as vice president of corporate brokerage and development.  With 35 years of experience, Childers was most recently real estate manager with The Kroger Co., where he managed its brokerage team. His experience has been focused on strategic planning, site selection, […]

Aug 12, 2020

Sentara Healthcare to merge with N.C. health system

Norfolk-based Sentara Healthcare announced Wednesday it has signed a letter of intent to combine organizations with Greensboro, North Carolina-based Cone Health. Transaction details were not disclosed. Sentara President and CEO Howard P. Kern will oversee the combined organization, which will have about $11.5 billion in combined revenue. The corporate headquarters of each organization will remain [...]

TowneBank moving closer to Norfolk Southern Tower purchase
Jun 24, 2020

TowneBank and CHKD buy Norfolk Southern Tower for $30M

UPDATED JULY 2 | Suffolk-based TowneBank and Children’s Hospital of the King’s Daughters (CHKD) have jointly purchased the 22-story Norfolk Southern Tower in downtown Norfolk from the Fortune 500 railroad corporation, which is in the process of migrating its corporate headquarters to Atlanta.  The building sold for $30 million, according to city of Norfolk documentation […]

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