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byline: Rich Griset

BAE Systems names senior VP for government relations

Arlington-based defense contractor BAE Systems Inc. announced Thursday that Shelly O’Neill Stoneman, the company’s vice president for executive branch and international government relations, will become its senior vice president for government relations, effective April 17.

Stoneman will succeed Frank Ruggiero, who will remain with the company as a legacy fellow, and will report directly to BAE President and CEO Tom Arseneault. Stoneman will also serve as a director on the company’s board of directors.

In her new role, Stoneman will be responsible for all government relations activities, which will include overseeing and maintaining the company’s relationships with the U.S. Department of Defense, Congress and state governments.

“Shelly has already proven that she’s a strong senior leader who can work effectively across the company, throughout the Pentagon and across the aisle to ensure we deliver for our customer,” said Arseneault in a statement.

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Reston-based Comscore closes investment transactions

Reston-based media measurement and analytics company Comscore Inc. announced Thursday that it has closed its previously announced investment transactions with Connecticut-based Charter Communications Inc., Colorado-based Qurate Retail Inc. and an affiliate of New York-based Cerberus Capital Management LP.

Each of the three companies made a cash investment in exchange for shares of convertible preferred stock, previously reported at $204 million ($68 million per investor) at $2.47 per share. Proceeds from the investment were used to repay and extinguish Comscore’s senior secured convertible notes held by affiliates of Starboard Value LP. Comscore also repaid and extinguished its foreign secured term note.

A competitor of analytics and media ratings firm Nielsen Holdings PLC, Comscore has struggled as media consumption habits have rapidly changed. It has also experienced financial challenges. In recent years, Comscore also has faced executive departures, an accounting scandal and a Securities and Exchange Commission investigation that resulted in Comscore paying a $5 million settlement in 2019.

 

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Serco Inc. wins $600M Navy contract

Herndon-based tech company Serco Inc. (a subsidiary of United Kingdom-based Serco Group plc) has been awarded a potential eight-year, $600 million contract by the U.S. Navy to support its Anti-Terrorism/Force Protection (AT/FP) Ashore Sustainment Program.

With an initial delivery order worth $153 million, Serco will support the program by providing software, hardware and firmware maintenance services. The contract terms require Serco to work on life cycle sustainment of physical security/access control and command, control, communications, computers and intelligence (C4ISR) systems in support of Commander, Naval Installation Command’s AT/FP program worldwide.

The company will also work to update government technologies through incorporation of new system capabilities and cybersecurity innovations. In addition, Serco will provide full life cycle sustainment of AT/FP assets at Navy installations worldwide. This latest IDIQ contract provides Serco to continue supporting the service branch drive to improve its capabilities.

“Serco has been providing unique AT/FP Ashore System service for the U.S. Navy since 2003. Since then, we have increased our worldwide deployment team significantly,” said Dave Dacquino, chairman and CEO of Serco, in a statement.

Serco has approximately 8,000 employees and annual revenue of $1 billion. Serco is a wholly-owned subsidiary of Serco Group plc.

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Virginia ABC announces Pappy Van Winkle lotteries

On Wednesday, the Virginia Alcoholic Beverage Control Authority announced that several highly prized Pappy Van Winkle whiskey products will be entered into an online lottery in March and April.

The 23-year-old bourbon whiskey costs $300 per bottle, but in the online marketplace, a bottle of 25-year-old Old Rip Van Winkle bourbon was on sale for $37,799 this week.

Entrants into the lottery will vie for the opportunity to purchase Pappy Van Winkle Family Reserve 23 Year, 20 Year and 15 Year whiskeys; Van Winkle Special Reserve 12 Year and Old Rip Van Winkle 10 Year bourbons; as well as Old Rip Van Winkle 13 Year Rye, a new offering for the Virginia ABC. Distilled and bottled in Kentucky’s Buffalo Trace Distillery, the highly desired 23-year Family Reserve bourbon is extremely difficult to buy and is owned by the Sazerac Co., which acquired the former family-owned business in 2002. Annual production ranges between 6,000 and 8,000 bottles.

Each online lottery entry form will be available for five days. Winners will be selected at random in a drawing. Lottery entrants must either be individuals who are 21 and older, or a licensed mixed-beverage establishment. At the time of purchase, winners must present a valid Virginia photo ID. The name and address on the photo ID must both match the name and address on the winner’s entry.

Since licensee sales typically make up 18% of the Virginia ABC’s business, a proportional number of bottles is set aside for licensees. Separate drawings will be held for retail customers and licensee customers.

The dates for each online lottery, number of bottles available and product prices are as follows:

• March 18-22:
o Pappy Van Winkle Family Reserve 23 Year ($299.99) – three bottles available (two retail, one licensee)
o Pappy Van Winkle Family Reserve 20 Year ($199.99) – 126 bottles available (101 retail, 25 licensee)
o Pappy Van Winkle Family Reserve 15 Year ($119.99) – 137 bottles available (113 retail, 24 licensee)

• April 7-11:
o Old Rip Van Winkle 13 Year Rye ($119.99) – 300 bottles available (240 retail, 60 licensee)
o Van Winkle Special Reserve Bourbon 12 Year ($79.99) – 1,449 bottles available (1,159 retail, 290 licensee)
o Old Rip Van Winkle 10 Year ($69.99) – 462 bottles available (370 retail, 92 licensee)

All lottery entries must include the store number and address where the bottle should be delivered for customer purchase and pick up. Lottery entrants are encouraged to determine this location before submitting their entry. Lottery information is available here.

 

 

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Hampton Inn & Suites in Newport News sells for $9M

Chester-based Shamin Hotels has purchased a 120-room Hampton Inn & Suites in Newport News for $9 million.

Shamin purchased the hotel, which it plans to renovate, from Yoder Inn Group LP as an investment. Located at 12251 Jefferson Ave. on approximately 2.65 acres, the hotel consists of 90 rooms and 30 two-room suites.

Shamin, one of the largest independent hoteliers in the United States, recently saw its Hilton Richmond Hotel and Spa in Short Pump enter receivership after falling behind on loan payments. Shamin CEO Neil Amin has said that his other hotels are performing better than the Short Pump Hilton because those properties are less dependent on revenue from conferences.

Shamin has new properties scheduled to open in 2021, including a Home2 Suites and a Hampton Inn and Suites in Short Pump. It will also soon complete renovations on The Landing at Hampton Marina, a Tapestry Hotel by Hilton, in Hampton.

G. David Butchello of Cushman & Wakefield | Thalhimer’s Newport News office handled the sale negotiations for the Newport News hotel on behalf of the seller.

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Capital Square buys apartments in Gainesville

Henrico County-based real estate investment company Capital Square has acquired SomerHill Farms apartments in the Gainesville area of Prince William County for an undisclosed amount.

Located at 7351 Yountville Drive, the 140-unit multifamily community is situated on 18.76 acres. Constructed in 2006, SomerHill Farms features six three- and four-story residential buildings and a community clubhouse. The community includes one-, two- and three-bedroom units ranging in size from an average of 786 square feet to 1,446 square feet.

The property was acquired for Capital Square’s CS1031 SomerHill Farms Apartments DST investment entity, which seeks to raise $23.2 million in equity from accredited investors, with a minimum $50,000 investment.

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Senior living community announced for Virginia Beach

Pembroke Realty Group and Beth Sholom Village have announced a new senior living community in the works for Virginia Beach.

Located at the corner of Jeanne Street and Constitution Drive, the 7-story community will have 124 independent living apartments, 20 assisted living apartments and 12 memory support units.

Designed by Kahler Slater Architects with programming by CJWW Architecture, the community is scheduled to open fall 2023. Pembroke Realty declined to disclose the project’s cost.

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Arlington intends to extend ground leases for Courthouse Plaza

Arlington County and developer JBG Smith have entered into a letter of intent to restructure three ground leases that JBG Smith holds on government-owned land for a multiplex movie theater at 2100/2200 Clarendon Boulevard and office space at 2300 Clarendon Boulevard.

While the county owns the land, JBG Smith owns the buildings. The letter of intent provides JBG Smith the option to extend the land leases from their current expiration date in 2062 until 2119. The county leases the majority of one of the two office buildings occupying the ground lease, with the remaining office space and AMC Courthouse Plaza 8 being leased to other entities through JBG Smith.

Under the current leases, annual rent paid by JBG Smith to the county has fluctuated from $100,000 to $3.9 million. The new agreement would modify the annual lease payments to fixed rates and will include a one-time lump sum of $18 million paid by JBG upon execution of the leases. Rent would be $3.5 million per year, plus 2% annual escalations and 20-year inflation adjustments not to exceed 10%. The rent will be reduced to $2.5 million for the first three years.

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Richmond property sells for $1.9M, leased to Starbucks

A Richmond property located at 2305-2309 West Broad Street sold for $1.9 million and was subsequently leased by Starbucks Corp.

Lee Hall Plaza Inc. purchased the property, which includes 3,256 square feet sitting on 0.55 acres of land, from J.W. Willis. The parcel is located across the street from the Virginia Department of Motor Vehicles’ Central Customer Service Center and the Science Museum of Virginia.

Jeffrey A. Cooke and Connie Jordan Nielsen of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller. Nielsen represented the landlord and Nicki Jassy and Pete Waldbauer represented Starbucks Corp. in the lease transaction.

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Chesapeake office building sells for $7.5M

Virginia Beach-based property management company The Runnymede Corp. purchased Chesapeake office building Crossways Commerce Center IV for $7.5 million on Feb. 8.

Located at 1408 Stephanie Way, the 51,209-square-foot building was purchased from Washington, D.C.-based real estate investment company DSC Partners. The flex building is 91% occupied by Leidos Holdings Inc. and 9% occupied by corporate offices for 7-Eleven Inc.

Scott Adams and Michael Ettel of Colliers International were the selling brokers. TowneBank provided financing.

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