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ndp grows with new presence in Northern Virginia

 


A Richmond-based advertising and public relations agency, ndp, now serves Northern Virginia.

The agency says adding an associate in that market makes it the only Virginia-based agency with employees in the commonwealth’s four largest metro area.

Senior Vice President Thomas Becher said the new office will enable ndp to better serve clients in a growing region in industries such as health care, technology, financial services and aviation.

In addition to Northern Virginia and Richmond, ndp also has offices in Norfolk and Roanoke.

Becher says the agency employs 60 people.

Commonwealth Center sells for $3.5 million in Newport News

Karditsa Properties has purchased the Commonwealth Center in Newport News from Gerry & Donna Wilkins LLC for $3.5 million as an investment.

The 30,279-square-foot property is located on 3.8 acres at 12715 Warwick Blvd.

Drew Haynie of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the purchaser, who is based in Newport News.

Rolls-Royce to add 100 new jobs by end of the year

Rolls-Royce Crosspointe in Prince George County celebrated a production milestone Thursday, and said it would add 100 new jobs by the end of the year.

During a ceremony attended by company executives and elected representatives, Rolls-Royce commemorated the production of the 10,000th rotative disc at its facility where the company makes precision-engineered engine components for some of the most advanced aircraft in the world.

Crosspointe will begin making components for a new engine family announced this week for business aviation, the Pearl, which will power the new Bombardier Global 5500 and Global 6500 aircraft.

At the beginning of 2018, the company had a workforce of nearly 300 people, with a goal to add 100 new jobs by the end of 2018. The company said it is recruiting to fill these positions from candidates throughout the region.

“There is a significant demand for our products, and we are adding a lot more capacity. We are actively recruiting people to join the Crosspointe team,” Lorin Sodell, manufacturing executive, Rolls-Royce Crosspointe, said in a statement.  “Our employees enjoy competitive pay, an enhanced benefits package and a very strong team environment.” 

The company began manufacturing the rotative discs in Prince George County in 2011.  A second production factory, the Advanced Airfoil Machining Facility, began producing turbine blades in 2014. The facility is located on more than 1,000 acres, about 30 miles south of Richmond and is the first Rolls-Royce manufacturing facility built from the ground up in the U.S.

Wegmans will open new store in Chantilly on June 3

 

Wegmans will open a new 120,000-square-foot store in Chantilly at 7 a.m. on Sunday, June 3. The store is the New York-based regional supermarket’s 11th in Virginia and 97th store overall.

Located at The Field at Commonwealth near the intersection of Route 28 and Westfields Boulevard in Chantilly, the store will offer more than 60,000 products and 4,000 organic items.

Online grocery shopping is available with deliveries by Instacart to customers' doors.

Among the new store's highlights, and a first in Virginia, will be a Burger Bar, a casual restaurant with a menu of burgers, fresh salads, soup, and margaritas. In preparation for The Burger Bar's debut in Virginia, the store’s executive chef, Halit Ozdemir, trained at Wegmans' original location near its headquarters in Rochester, N.Y.

In Chantilly, Ozdemir will oversee a staff of 130 as employees prepare restaurant food ranging from barbecue to made-to-order salads and Italian pizza baked in a brick-hearth oven. Customers can choose to take out or dine in, with indoor and outdoor seating for nearly 300 people.

Wegmans said in a press release that Ozdemir and Wegmans Store Manager Brien MacKendrick spent months screening and interviewing to hire 500 employees, the majority of whom are new to the company and were hired locally. More than 5,000 people are part of Wegmans' workforce in Virginia, and that number will grow with future store locations slated for Virginia Beach, Tysons Corner, Alexandria (Carlyle), and Arcola.

Companywide, Wegman Food Markets Inc. employs about 48,000 people in six states, with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland, and Massachusetts. According to its website, the private family-owned company had $8.7 billion in annual sales in 2017.

Ground leased Wawa in Virginia Beach sells for $4.4 million


Cushman and Wakefield | Thalhimer’s Capital Markets Group represented the seller in the disposition of a ground leased Wawa in Virginia Beach.  The convenience store and fuel station, outparcel to a freestanding Harris Teeter location at the corner of Indian Lakes Parkway and Ferrell Parkway, was acquired on May 24 for $4.4 million.

Catharine Spangler in Thalhimer’s Richmond office handled the sale negotiations.

A managing editor’s farewell

After 17 years, this is my 204th and final issue as the managing editor of Virginia Business.  By the end of the month, I’m departing for “semi-retirement.” We all know that baby boomers never leave, right?

Well, I am leaving the day-to-day deadlines of journalism for a more leisurely pace. I want to visit my grandchild more, and there are several projects — personal and professional — long relegated to the back burner that will move to the front. 

But don’t be surprised to occasionally see my byline as I continue to contribute as a freelancer. It would be hard to go cold turkey after working in the news business for 42 years. Where else would I get the adrenaline rush that comes with breaking a big news story on deadline?

When I first got into business journalism — after leaving daily metropolitan newspaper reporting because I thought the hours would be more family friendly — I feared it would be boring.  A bunch of dull earning reports. I was wrong.

As an editor for a statewide business magazine, I’ve traveled Virginia touring all manner of properties for a firsthand look at business operations. Assignments have taken me to a sausage plant in Smithfield (lots of pig parts), Dominion Energy’s nuclear plant in Mineral (lots of security), the sprawling shipyard at Newport News Shipbuilding (who knew an aircraft carrier could be so big?) and Deep Mine #41, a coal mine in Southwest Virginia (the true meaning of pitch black).

From this on-the-ground reporting, I learned about the inner workings of some of the state’s major industries. Building a company is part of the American dream. There are ups and downs, challenges and, sometimes, danger in running a business. Over the years, hundreds of people have sat across from me sharing their stories — even when they may not have liked all the questions — and I want to say thank you for putting your trust in the press.

I also want to thank the readers of Virginia Business. You have kept me on my toes with comments, ideas and constructive criticism. The free and civil exchange of ideas and information is the foundation behind America’s greatness, and we should protect this freedom at all costs.

I’ve been blessed to work alongside a staff at Virginia Business that is hard-working and fully committed to quality journalism.  Publisher Bernie Niemeier has been known to add pages for substantive stories, and Editor Robert Powell is a pro at keeping our team on task and on time.  Production deadlines may be the bane of our business, but there is something tangible and beautiful, I think, at seeing how all the work comes together at the end of month in a glossy magazine. While I don’t have space to enumerate the talents of all the staff, suffice it to say your dedication inspires me. I will miss the team along with our stable of freelance writers, photographers and illustrators, many of whom have contributed to Virginia Business for decades.

One of my job perks — besides learning how sausage is made — has been access to interesting people. I have chatted with CEOs, governors and legislators, economic developers, entrepreneurs, environmentalists, publicists and the occasional helicopter pilot when an assignment required this mode of transportation. One memorable flight (on the way to that coal mine) was a breathtaking and bumpy ride over the mountains of Southwest Virginia when the fall foliage was at its peak.

As for memorable interviews, there are too many to count, but here’s a few: Steve Case, co-founder of AOL and now an investor and entrepreneur in Washington, D.C.; Michael Quillen, the former chairman and CEO of Alpha Natural Resources who served as my personal tour guide during that coalmine journey 1,000 feet beneath the earth; and Sheila  Johnson, co-founder of BET and the billionaire businesswoman and philanthropist who developed Salamander Resort and Spa in Middleburg. 

And who could forget Doris Buffett, the spunky sister of billionaire investor Warren Buffett? Until recently, she lived in Fredericksburg and helped give her brother’s money away by running the Sunshine Lady Foundation, a private family foundation that helps people in need.

While I can’t seem to find my keys or glasses these days, I do remember something Doris Buffett said, and it helps keep impulse spending in check: “How many coffee tables and cruises does a person really need?”

It wouldn’t be a farewell column without a few observations on how things have changed. In the old days, journalists relied on paper records. Today, we can pull up annual reports, proxies and other documents on our phones and laptops quicker than one can say, “Stop the presses.”

And while women have yet to reach parity with men in the corner suite or in the size of their paycheck, they have made dramatic inroads. When I started my career, it wasn’t unusual to be the only woman in the room at some business functions. Today it’s not unusual for a large public or private company to be headed by a woman, such as

Phebe Novakovic, the chairwoman and CEO of General Dynamics.
So, things are changing for the better in many ways, including my schedule. You will get no sad goodbyes from me. As they say in Italy: arrivederci, or until we meet again.

PenFed CEO James Schenck recognized for credit union’s philanthropy

PenFed President and CEO James Schenck was recognized Wednesday as the 2018 Large Business Philanthropist of the Year by Volunteer Alexandria.

The award came during the group’s 20th Business Philanthropy Summit, an annual event that recognizes businesses that support charitable organizations, outreach and events throughout the region.

Schenck shares the award with PenFed Credit Union and the PenFed Foundation in recognition of their combined support in the greater Washington D.C. area, with the credit union and its foundation on target to donate $3.5 million to area organizations this year.

“I am extremely humbled and honored to accept this award on behalf of the entire PenFed team: 2,500 employees who give more of themselves each and every day than they ever ask in return,” Schenck said in a statement.

The annual summit, held at the George Washington Masonic National Memorial, promotes businesses, nonprofits and government entities working together with Alexandria residents to increase community wellbeing.

PenFed’s recent charitable donations include $300,000 to Serve our Willing Warriors to provide respite for wounded warriors at a retreat in Haymarket; $125,000 to the Kennedy Center to support free concerts for military families; and $100,000 to D.C.  Habitat for Humanity to provide affordable first-time homeownership for local veterans.

With its headquarters in Alexandria, the PenFed Foundation is a national nonprofit organization committed to helping members of the military community. Since 2001, it has provided more than $30 million in financial support to veterans, active duty service members, families and caregivers. PenFed is the country’s second-largest federal credit union, serving more than 1.6 million members worldwide with $23 billion in assets.
 
Schenck, a graduate of the U.S. Military Academy at West Point and Harvard Business School, volunteers his time as CEO of the PenFed Foundation without compensation. He also recently chaired the Washington Business Hall of Fame campaign, which raised $1.3 million for Junior Achievement. 

Schenck serves on many regional community boards including the U.S.  Chamber of Commerce, National Symphony Orchestra, Northern Virginia Chamber of Commerce, Northern Virginia Technology Council and Greater Washington Hispanic Chamber of Commerce.

Jen Walker of the Jen Walker Team of McEnearney Associates Realtors was named the Small Business Philanthropist of the Year.

Sales open for luxury condos at Tysons

The Meridian Group and Kettler announced Wednesday that sales are open for Verse, a new luxury residential tower at The Boro development in Tysons.

The 25-story, 245,502-square-foot condominium building, with 140 residences, is expected to be complete by October 2019. The one-, two- and three-bedroom units are priced from $500,000 to $2 million.

As Tysons continues to transform from a corporate business park with shopping to a mixed-use, live/work/play urban center, residential projects such as Verse are considered key in the metamorphosis. The condominiums will be the first to open since Fairfax County approved a master plan calling for more residences.

“Verse will set a new high-water mark for luxury living in Tysons,” Bob Kettler, founder and CEO of Kettler, said in a statement. “It will be the iconic showpiece of the first fully walkable community in Tysons and the most exciting new downtown environment in Northern Virginia, with every neighborhood amenity right at your fingertips.”

Meridian, a Bethesda, Md.-based real estate investment and development company, and Kettler, a McLean-based development and property management firm, have formed a joint venture to develop the tower, designed by the international architecture firms Shalom Baranes and Cecconi Simone.

The D.C.-based Mayhood Co. is leading the marketing and sales effort for Verse.

According to the developers, residents of Verse will enjoy “breathtaking panoramic views of the Blue Ridge Mountains and downtown D.C.” Units will have floor-to-ceiling windows and select homes will be built with outdoor terraces and balconies.

The project’s list of amenities includes: open-plan concepts, walk-in closets, wine refrigerators, spa-inspired master baths with porcelain Calcutta marble floors, an outdoor pool, 24/7 concierge services, a pet spa, fitness studio and one-acre sky park with covered kitchen and bar. Other modern touches are a space for bicycle storage and car-charging stations.

Located within walking distance of the Greensboro Metro station, The Boro will offer a mix of offices, residences, retail stores, restaurants and entertainment. Its first phase of development is expected to be ready by the mid or later half of 2019. It will include the area’s largest Whole Foods Market, a 69,000-square-foot flagship store and a ShowPlace ICON Theatre, with 14 screens and upscale dining.

VCU to break ground on new engineering research building

The Virginia Commonwealth University College of Engineering will hold a groundbreaking ceremony for its new Engineering Research Building on Tuesday, June 5, at 9 a.m. on the northeast corner of Cary and Belvidere streets in Richmond.

City and university officials will attend and make remarks, including Richmond Mayor Levar M. Stoney, Michael Rao, president of VCU; and Barbara D. Boyan dean of the VCU College of Engineering.

The $93 million research building is scheduled to open in 2020. It will significantly expand the college’s laboratory capacity and serve as a collaboration hub for advanced research, economic development initiatives and hands-on approaches to engineering.

Richmond-based architecture firm Baskervill and Boston-based firm Goody Clancy have designed the 133,000-square-foot building, which is being financed by investments from the state, VCU and private support.

Altria donated an additional $1 million to support the Engineering Research Building’s makerspaces to enhance student creativity and experiential learning.

 

SunTrust Center in Innsbrook submarket sells for $62.4 million

Cushman & Wakefield | Thalhimer’s Capital Markets Group in Richmond joined forces with Cushman & Wakefield's Washington, D.C., office on the sale of the SunTrust Center in Henrico County.

The team represented Bridge Investment Group in the $62.4 million sale of SunTrust Center One and Two, a two-building, Class A office park located on West Broad Street in the Innsbrook submarket of Richmond.

According to Thalhimer, the buyer was FD Stonewater of Washington, D.C., which acquired the asset on May 24, marking its first investment in the Richmond market. 

The buildings total 419,653 square feet and are situated on 32.3 acres. SunTrust Center One, comprised of 214,273 square feet, is 100 percent leased to SunTrust for 10 years. The building recently underwent a major renovation with more than $30 million invested, transforming the asset into a modern, collaborative workspace that includes a new lobby, fitness center and cafeteria.

SunTrust Center Two, comprised of 205,380 square feet, also is 100 percent leased to five tenants: Magellan Health, SunTrust Bank, RetailData, Home Care Delivered, and EMC Corp.

FD Stonewater has retained Cushman & Wakefield | Thalhimer to lease and manage the property. Jeffrey Cooke and Amy Broderick are the exclusive leasing representatives while Dwayne Faria, also with Thalhimer, is the portfolio manager assigned to the property.

Completing the sale was Eric Robison, a senior vice president in Cushman & Wakefield | Thalhimer’s Capital Markets Group, along with Eric Berkman, executive managing director, and William Collins, executive vice chairman of Cushman & Wakefield in D.C.

“This opportunity garnered interest from a wide range of investors, including foreign capital. Our team’s collaborative approach produced offers from a number of institutional investors new to the Richmond market that resulted in a highly competitive bidding environment,” Berkman said in a statement.