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Virginia Realtors CEO retires
Virginia Realtors CEO Terrie L. Suit is retiring after 11 years heading the state’s largest trade association, according to a Sept. 14 announcement. Glen Allen-based Virginia Realtors, which represents 36,000 Realtors, has appointed Martin K. Johnson as interim CEO. He has held varying roles with the association, including senior vice president of advocacy, chief lobbyist […]
NoVa, Hampton Roads home sales decline in August
Home sales in Northern Virginia and Hampton Roads dropped year-over-year and month-over-month in August, although inventory and selling prices in both regions increased from the same time last year. Northern Virginia August home sales in Northern Virginia dropped 8.1% from August 2023, according to data released Sept. 12 by the Northern Virginia Association of Realtors. […]
ACI doubles its Chesterfield HQ
Commercial and industrial contractor Atlantic Constructors Inc. (ACI) is doubling its headquarters in Chesterfield County, a roughly $25 million project. The contractor, which provides mechanical, electrical, plumbing and fire protection products and services, plans to open a second 170,000-square-foot building on 18 acres beside its existing building, which sits on 25 acres, in early November. [&[...]
Peterson Cos. names president
Daniel McCahan, most recently chief operating officer of Madison Marquette, will become president of Fairfax-based real estate developer Peterson Cos. on Sept. 9. McCahan worked at Washington, D.C.-based real estate investment firm Madison Marquette for 13 years, first joining as a senior vice president. “We are pleased to welcome Daniel McCahan as president of Peterson […]
LL Flooring sells Henrico distribution center for $104M
Read more: LL Flooring to sell 219 stores; 211 other stores set to close LL Flooring has sold its eastern Henrico County distribution center to a limited liability company for $104.75 million, according to documents the Henrico-based flooring company filed with the Securities and Exchange Commission on Tuesday. Formerly known as Lumber Liquidators, LL Flooring […]
Virginia 500: The 2024-25 Power List
Who are Virginia’s most powerful and influential leaders in business, government, politics and education this year? Find out in the fifth annual edition of the Virginia 500: The 2024-25 Power List. Read more about how we assembled the Virginia 500 from our editor. Executives are listed in alphabetical order by industry. Below you will find links […]
Real Estate 2024: CHRIS CLEMENTE
Clemente is the son-in-law of NVR founder Dwight Schar, who is a co-owner of Comstock Holdings and Comstock Partners with Clemente. Founded in 1985, the privately held Comstock is among the mid-Atlantic’s largest developers of mixed-use and transit-oriented developments. Comstock’s 2023 revenue was $44.7 million, with a managed portfolio of 49 properties. It’s best known […]
Locked gears
When Gail Courville decided this year to move closer into the Richmond metro area from Serenity Farm, her 109-acre Goochland County estate, she faced a real estate market vastly changed from the last time she relocated, back in 2014. The interest rate on the nearly $900,000, 5,000-square-foot home she wanted to purchase in Henrico County […]
NoVa residents feel pressure to pay high rent, mortgages
A spring survey showed more than half of residents polled in the greater Washington, D.C., area are concerned with making rent or mortgage payments in 2023, highlighting the lack of affordable housing in the nation’s fourth largest metropolitan area. Fifty-two percent of D.C., Maryland and Virginia residents polled by Gallup and the nonprofit Greater Washington […]
Watch this space
To understand office vacancy rates in Northern Virginia, Art Greenberg, the Washington, D.C.-based vice chairman for tenant advisory firm Savills Inc., employs the turkey sandwich test. In short, he explains, today’s workers want an office building where they can walk a block or two and find a half-dozen places to get a turkey sandwich for […]
Real Estate 2024: GARY BOWMAN
Bowman Consulting Group, founded in 1995 as a five-person company, followed Bowman’s 15-year stint at Urban Engineering. The publicly traded engineering services firm has about 2,000 employees with 97 offices nationwide, nine of them in Virginia. In July, Bowman, who remains chairman and CEO, was succeeded as president by Michael Bruen, the firm’s former chief […]
Inventory grew in Va. housing market in July
Inventory grew for Virginia’s housing market in July, according to Virginia Realtors data released Aug. 21. At the end of July, there were 19,162 active listings in the state, which was 4,223 more listings than in July 2023 — a 28.3% increase. Of those listings, 12,439 came onto the market in July, a 13.6% increase […]
