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byline: Jason Roop

Sonabank and parent company rebrand as Primis

A new vision for the company prompted Sonabank to rebrand itself as Primis Bank, company president and CEO Dennis J. Zember Jr. said Wednesday in a statement about the change.

“The new vision centers around being innovative in the way we deliver more meaningful results to our customers and our shareholders,” he said, “and doing so in a culture that is exciting and infectious.”

The Henrico County-headquartered bank formerly known as Sonabank is a subsidiary of McLean-based Southern National Bancorp of Virginia Inc., which changed its name to Primis Financial Corp. The company’s NASDAQ trading symbol switches from “SONA” to “FRST.”

Primis Financial Corp. reported $3.09 billion in total assets as of Dec. 31, with $2.44 billion in total loans and $2.43 billion in total deposits. Primis Bank has 42 full-service branches in Virginia and Maryland.

 

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Prince William chamber taps new COO

The Prince William Chamber of Commerce has promoted Ross W. Snare IV to chief operating officer, effective April 1.

Snare started with the Manassas-based business chamber in April 2018 as director of communications and government relations. He became senior director of operations and government affairs two years later.

The chamber, which counts more than 1,200 members, cited Snare’s leadership and pro-business advocacy as factors in the promotion. A year ago, Snare created a daily COVID Alert email that “proved to be a lifeline and amazing resource to all businesses in our region,” Chamber President and CEO Debbie Jones said in a release.

Snare is a 2013 graduate of Christopher Newport University. Before working at the chamber, he served as a political aide to federal, state and local officials in Virginia. He also serves on the boards of SPARK the Education Foundation for Prince Willam County Public Schools, the Hylton Performing Arts Center Development Committee, the Manassas Regional Airport Commission and the Manassas Business Council, for which he serves as vice chair.

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Aging office parks embrace multifamily

A weekday lunch hour is relatively quiet on the grounds of the Boulders office park, south of Richmond, except for a few people chatting during a walk around a lake and the honking of two geese skimming the water.

Overlooking that lake are gray and white apartments recently built from scratch on vacant land — 250 units at 50% occupancy. A phase-two build of 215 units will start in the spring, says Michael Campbell, president of Dominion Realty Partners, developer of Boulders Lakeside Apartments.

Built in the 1980s, the Boulders is one of Chesterfield County’s more mature mixed-use office parks. Woodsy but close to plenty of retail and traffic, it’s a 15-minute drive from the Virginia State Capitol.

Residential development has been a part of the mixed-use suburban office park since its beginning. But even as the Boulders settles into its fourth decade, it’s getting new multifamily life. This residential boom is happening across the region near older office parks, with developers hoping for a better return on investments, following shifting trends of where people choose to live and work by building new apartment buildings on empty parcels.

Boyd Homes is preparing a 245-unit apartment complex in the county’s Gateway Centre office park. At neighboring Henrico County’s Innsbrook, which is more than 40 years old and had apartments for some time, new developments in the works include Highwoods Properties’ plan to construct a 34-acre mixed-use project with office and residential space.

With more people working remotely now, Anthony J. Romanello, executive director of the Henrico Economic Development Authority, says that people have greater freedom to live where they like.

“What that means is that place is more important than ever,” he says. “That’s what’s at the heart of these developments and redevelopments.”

In addition to the Boulders, Dominion Realty Partners also has plans for Innsbrook, where it bought a partly wooded 12.5-acre tract from Dominion Energy Inc. that previously held surface parking for the utility. Campbell anticipates breaking ground this year on 300 units for rent and 58 town homes around the corner from Markel Corp. and Hamilton Beach Brands Holding Co.

His company has pursued similar projects in other markets, he says, because older suburban parks are sites with employment, amenities and accessibility.
“I think the counties are a little more open to multifamily development than they have been in years past.”

Dark fiber optic network coming to NoVa

A new 680-mile, regional fiber optic network will begin to take shape in Northern Virginia during the second half of 2021. The project is a joint venture between Annandale-based Tenebris Fiber, Kansas-based Diode Ventures and New York-based JLC Infrastructure.

Construction on the new dark fiber network will begin later this year, the companies said, starting with a 75-mile, buried network running through Fairfax, Loudoun and Prince William counties — providing access from Ashburn to Manassas. (Dark fiber is a telecommunications term referring to fiber optic cables that were previously installed in the ground but have not yet been used to send data.) When complete, the network will run some 680 miles across Virginia, connecting Northern Virginia to the Virginia Beach cable landing station that connects to subsea, intercontinental high-speed internet cables running to Europe and South America.

“It’s going to be a game-changer for us,” because of the speed, scale and expansion possibilities, says Victor Hoskins, CEO of the Fairfax County Economic Development Authority. “The ability to grow is immense. … What’s so incredible about this one is that it’s connecting to the submerged cables that connect across the ocean, that come up in Virginia Beach.”

The pandemic has increased data demand from data centers, said Brad Hardin, president of Diode Ventures, a subsidiary of Black & Veatch. And that’s been especially true for Loudoun County’s Data Center Alley, where the world’s largest concentration of data centers can be found.

“Data centers in this region will continue to require high-quality, diverse networks to support their growing operations and customer demand,” Hardin said in the announcement.

Hoskins says standout features of the network include its ability to offer exclusivity to clients and direct access.

Down Under Construction, a contractor with headquarters in Sterling, will perform the engineering, procurement and construction, according to the announcement.

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CounterFlow AI names new CEO

Charlottesville-based CounterFlow AI has named its chief product officer, Bill Cantrell, as CEO effective April 2, the network security firm announced today.

Cantrell will succeed Randy Caldejon, who co-founded the company in 2017 and will continue as its executive chairman and vice president of engineering. Caldejon, whose Crozet Coffee Co. was acquired by Grit Coffee late last year, also owns vineyard and ag-tech incubator Fidelis Farm in Crozet.

“Bill’s seasoned understanding of today’s network security landscape — and how to best compete — make him the perfect fit for leading CounterFlow AI during this next growth phase,” Caldejon said in a statement. “He’s proven how to scale solution offerings for high-growth and disruptive companies in the security marketplace.”

Cantrell holds a degree in electrical engineering from Capitol Technology University and previously worked for another company co-founded by Caldejon, nPulse Technologies Inc., where he served as vice president of product management. That company became FireEye Inc.

Cantrell, who joined CounterFlow AI in 2019, says the company is tackling new kinds of network security that are better able to address concerns that come with a surge in encrypted traffic.

 

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Richmond supports restaurants with ‘Picnic in a Parklet’

Two Richmond restaurants will see their on-street parking lanes become outdoor dining areas this week to serve customers, spark business and encourage safer and socially distanced spaces.

The dining areas are part Richmond city government’s “Picnic in a Parklet” pilot program, a partnership between the city and downtown booster Venture Richmond, according to a March 30 announcement. Three other locations are in the works.

The program, which helps businesses with design and permitting, uses prefabricated parklets from Archatrak Inc. The company, which has offices in Chevy Chase, MD, describes its StreetDeck parklets as a self-contained, modular way to create street seating. The parklets include railings and planters and require minimal installation, the company says.

“Public space is a valuable community asset that we have the responsibility to use intentionally and equitably,” Mayor Levar Stoney said in the announcement. “These five new parklets outside small businesses certainly meet that mission.”

The first two parklets will be installed on North 29th Street, adjacent to the Nile Ethiopian Café, and North Shields Avenue, adjacent to Joe’s Inn.

The city says two other parklets are going through the permitting process in addition to the program’s five planned parklets, designed by HKS Architects and Walter Parks Architects.

 

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Va. finalizes $3.7B rail expansion agreement

Virginia will have more train service in the next decade, as Gov. Ralph Northam announced Tuesday the formalization of a $3.7 billion rail expansion package in Virginia, the tenets of which were announced in late 2019. The state signed agreements with Amtrak, CSX and Virginia Railway Express at a ceremony Tuesday.

According to the governor’s office, the number of Amtrak trains serving Virginia will double over the next 10 years, providing nearly hourly service, and increase VRE commuter service by 60%. An existing east-west freight corridor between Doswell and Clifton Forge will be preserved to provide passenger service, and the project creates the possibility of rail serving the entire state. Some of the funding comes from the $1.9 trillion American Rescue Plan legislation Congress passed in December toward pandemic relief.

Northam, who signed the agreements Tuesday while accompanied by U.S. Secretary of Transportation Pete Buttigieg at the Amtrak/Virginia Railway Express station in Alexandria, called the agreements a historic initiative “that will fundamentally transform our transportation infrastructure, delivering long-term economic benefits for our workers and communities as we rebound from the pandemic and into the future.”

The pandemic relief bill includes $1.7 billion to bring furloughed Amtrak workers back to work, restore service and help states cover lost revenue, Buttigieg said. One of the biggest hurdles to Virginia’s railway challenges has been the sole rail connection between Virginia and Washington, D.C., an East Coast bottleneck owned and operated by CSX. Constructing an adjacent $1.9 billion, two-track, Virginia-owned Long Bridge over the Potomac River will help solve that issue, officials say.

Tuesday’s set of agreements includes a 10-year, $944 million commitment from Amtrak. The company will become the exclusive provider of intercity passenger rail service along Interstate 95 for at least 30 years, according to the announcement.

“Virginia is a model for the nation in recognizing the role passenger rail plays in connecting people and economies,” Amtrak CEO Bill Flynn said in a statement. “Expanding our state-supported intercity corridors gives us greater opportunities to meaningfully address the carbon crisis and enhance mobility as our population continues to grow.”

The state says its Transforming Rail in Virginia Initiative is meant to address growing traffic congestion, with Virginia’s population expected to increase from 8.5 million to 10 million during the next decade — a fifth of which is expected in Northern Virginia. The governor also projects that the initiative will grow the state economy by $2 billion annually.

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Volkswagen Group of America pulls ‘shocking’ April Fools’ prank

Calling it a “public declaration” of its priority on electric vehicles, Herndon-based Volkswagen Group of America Inc. unveiled a new company name, Voltswagen of America, accompanied by new branding, in a news release Tuesday. There was just one problem — the U.S. sales arm of the German automaker confirmed to news outlets Tuesday evening that it had just been engaging in a shocking early April Fools’ gag to generate free publicity for its new electric SUV.

“The renaming was designed to be an announcement in the spirit of April Fools’ Day, highlighting the launch of the all-electric ID.4 SUV,” company spokesman Mike Tolbert said in a statement.

In the fake release put out earlier on Tuesday, Volkswagen Group of America had said that its increased focus on electric cars was driving the change. The company wants to “build [electric vehicles] for the millions, not just millionaires,” President and CEO Scott Keogh said in the announcement.

Some advertising influencers and journalists were immediately skeptical, pointing to another a fake name change announcement made to gather free publicity: IHOP, the International House of Pancakes, falsely claimed in 2018 that it was changing its name to IHOB in order to promote its burger menu.

However, media outlets including The Associated Press, The Washington Post and CNBC had reported the name change as fact, with some of the outlets saying that company officials had told them the name change was legitimate. The false news also raised Volkswagen’s stock prices for a few hours.

“The Associated Press was repeatedly assured by Volkswagen that its U.S. subsidiary planned a name change, and reported that information, which we now know to be false,” AP spokeswoman Lauren Easton said, speaking to the AP for an article about the hoax. “We have corrected our story and published a new one based on the company’s admission. This and any deliberate release of false information hurts accurate journalism and the public good.”

Volkswagen Group of America said its first long-range electric SUV, the ID.4, was arriving in dealerships this month. It also noted that it was the first major automaker to support the goals of the Paris Climate agreement, and had set a goal of net-carbon neutrality by 2050. Volkswagen plans to launch more than 70 electric models across its brands by 2029, according to the announcement.

Founded in 1955, the company has made Fairfax County its North American headquarters for more than 10 years. In October 2020, the company signed a 20-year lease agreement for 196,000 square feet in a building under construction at Reston Town Center.

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Pittsylvania truck sales company plans $5.2M expansion

Chatham-based J&J Truck Sales Inc. will build a 45,000-square-foot facility off U.S. Highway 29 in Pittsylvania County, Gov. Ralph Northam announced Monday.

The $5.2 million project, adjacent to the company’s existing operation, is expected to create 27 jobs and increase its ability to repair, refurbish and fabricate automotive-based equipment.

Virginia beat South Carolina for the project, the governor’s office noted. “Well-established companies choosing to reinvest and create new jobs is what helps communities like Chatham flourish,” Northam said in a statement.

With locations in Chatham and Danville, J&J Truck Sales rents and sells heavy-duty trucks and construction equipment. It also buys and refurbishes equipment.

The company has been located in Pittsylvania County for 25 years, owner Jackie Atkinson said in a statement. “This is an exciting time to be in the Danville-Pittsylvania County area, and we look forward to being an integral part for many years to come.”

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Super Radiator Coils announces $9M expansion in Chesterfield

Super Radiator Coils will hold a shovel ceremony April 12 to mark the third expansion of its manufacturing facility in northern Chesterfield County — a $9 million project that will add 56,000 square feet and up to 50 jobs, according to a company announcement Monday.

The company employs around 210 people at its plant on Southlake Boulevard in Chesterfield, where it makes specialty coils for such industries as power generation, food processing, data center cooling and the military.

“The components we make enable the mechanical equipment that powers our world,” Matt Holland, vice president of operations for the company’s Richmond division, said in a release. “This investment in Chesterfield County will enable us to continue in that mission.”

Super Radiator Coils, which is headquartered in Minnesota, established its Virginia presence in 1980.

“We are so pleased to have such a quality manufacturer here in Chesterfield that provides valuable careers to our residents, especially now in a time when it is really needed,” Chesterfield County Board of Supervisors Vice Chairman Chris Winslow said in a statement.

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