Please ensure Javascript is enabled for purposes of website accessibility
Upcoming Event

Best Places to Work in Virginia

Hamburger Menu Hamburger Menu

byline: Robyn Sidersky

Vanguard Landing apartments under construction in Va. Beach

Vanguard Landing, an “intentional community” specifically designed for people with intellectual and developmental disabilities, is under construction in Virginia Beach. Developers broke ground on the first phase in April and started construction in earnest in May.

The mixed-use community, which claims to be the first of its kind in Virginia, will eventually have housing for about 185 people and an additional 50 people who will be day participants who live elsewhere but come to the community for programs. The housing will be one-story cottages with multiple bedrooms and one-bedroom townhomes. The community, located at 2016 Princess Anne Road in Virginia Beach, is designed for people with intellectual and developmental disabilities, but its housing will be open to anyone.

The first phase, which will cost about $36 million, will take about two years to build, with completion expected in spring 2026. It will have housing for 128 people. Along with the residences, the development’s first phase will include a small gift shop selling repurposed or upcycled household furniture and other household items. Residents will begin moving in once the first phase is complete, according to Debra Bond Dear, founder and executive director of Vanguard Landing.

“Planning and financing, including fundraising, for future phases will begin soon. Although there is no set timeline for the future phases, the plan is to complete the development in a timely manner,” Dear said in a statement.

Once built out, Vanguard Landing will have a special events center, a guest house, a cafe, a bakery, a larger gift shop and a farm stand to sell what is grown in an on-site garden. An education center and a thrift shop are also in the plans, which will be run by or in partnership with Vanguard Landing, giving the community’s residents employment opportunities.

The community will also have its own vans to provide transportation to residents. Vanguard Landing will accept both private pay and a combination of private pay and Medicaid waivers.

“This groundbreaking represents years of hard work and an unwavering commitment to support families who have loved ones with developmental disabilities,” Dear said in a statement. “It’s so exciting to see the vision of Vanguard Landing becoming a reality. We are so grateful to everyone who has supported this project. It’s truly taken a community of people who care deeply for those with developmental disabilities.”

John Reed of Berkadia Richmond and John Richards with Berkadia Norfolk secured $31.85 million in construction/permanent financing through the Virginia Housing Development Authority on behalf of the nonprofit developer. The deal closed on April 29.

StoneSprings Hospital Center hires new CEO

Tammy L. Razmic is the new CEO of StoneSprings Hospital Center in Dulles, the first woman to hold the top title, HCA Virginia announced May 13.

Razmic will start her new job at the Loudoun County hospital on May 20.

Razmic was most recently chief operating officer at HCA Florida Memorial Hospital in Jacksonville, Florida. There, she expanded the operating room, catheterization laboratory, post-anesthesia care unit and sterile processing unit. She also grew the electrophysiology, imaging and stroke service lines and developed a dedicated freestanding women’s center in 2021 with imaging and OB/GYN services.

At Palm Beach Gardens Medical Center in Palm Beach Gardens, Florida, a 199-bed medical center, Razmic served as chief operating officer. Additionally, she was chief operating officer and chief financial officer of Inova Fair Oaks Hospital in Fairfax.

“Tammy brings a wealth of experience to StoneSprings and her success innovating within a complex healthcare environment will move our team and our hospital forward,” Mike Rhodes, chairman of the hospital’s board of trustees, said in a statement.

Razmic earned her undergraduate degree in accounting and financial administration from the University of Nevada Las Vegas and her master’s in health administration from Ohio University’s School of Public Health.

StoneSprings Hospital is part of the HCA Virginia Health System, which operates 14 hospitals, 27 outpatient centers, five freestanding emergency rooms and is affiliated with 3,000 physicians.

GDIT wins $185M Air Force task order

Falls Church-based federal contractor General Dynamics Information Technology won a $185 million recompete task order to provide cybersecurity services for the Air Force Civil Engineer Center, the company announced Friday.

The 772nd Enterprise Sourcing Squadron at Tyndall Air Force Base in Florida awarded the task order for a one-year base period with four option years.

Under the task order, GDIT will research and develop new strategies to mitigate cybersecurity risks to the Air Force’s industrial control systems, according to a news release from GDIT. The systems include building automation, life safety, utility monitoring and airfield control. 

“Protecting our operational technologies from our adversaries is vital to our national security,” Brian Sheridan, GDIT’s senior vice president for defense, said in a statement. “As a long-standing partner of the Air Force, we look forward to reimagining new ways to secure its critical infrastructure.”

The AFCEC is responsible for facility investment planning, design and construction, property management and environmental compliance and restoration. 

GDIT is a subsidiary of Reston-based Fortune 500 aerospace and defense contractor General Dynamics, which employs more than 100,000 people worldwide and reported $42.3 billion in 2023 revenue. GDIT has 30,000 employees, 8,000 of whom work in Virginia.

Arlington apartment tower sells for $48.5M

A 162-unit high-rise apartment property in Arlington County has changed hands.

Fortis Cos., a Washington, D.C.-based real estate development and investment company, acquired Marlowe Apartments from Equity Residential for $48.5 million, according to Berkadia, a commercial real estate services and mortgage firm, and Arlington County property records.

The 162-unit property located at 400 15th St. S. is located across from Metropolitan Park, the first phase of Amazon.com’s East Coast headquarters, HQ2.

Marlowe Apartments, built in 1986, is connected to the Crystal City Metro station.

Patrick McGlohn, Brian Gould, Miles Drinkwalter and Pat Cunningham of Berkadia DC Metro secured $40.6 million in financing on behalf of the buyer. The financing closed on May 6 in conjunction with the sale of the property. Berkadia DC Metro Institutional Sales, led by Brian Crivella, Yalda Ghamarian and Bill Gribbin, facilitated the sale on behalf of the seller.

Shenandoah University receives $20M gift from alumnus

A Shenandoah University alumnus and his wife have pledged $20 million to the university, the largest individual donation in the history of the Winchester school.
Wilbur and Clare Dove’s gift, announced last month, will go toward the building of a performing and visual arts center on campus, according to the university.

Wilbur Dove earned his junior college degree in 1959 from what was then known as Shenandoah College and Conservatory. That institution, which was previously located in Dayton, moved to Winchester in 1960 and was renamed Shenandoah University in 1991. Dove was a member of the final class to attend Shenandoah at its former Dayton location.

“This performing and visual arts building will transform the university and will allow Shenandoah and its conservatory to continue to provide the very best educational experience and opportunities to its students,” Wilbur Dove said in a statement.

The Doves have been longtime supporters of Shenandoah University, most recently giving toward the construction of Dove’s Nest and Dove’s Nest II, two of five apartment-style residence halls that make up The Village Apartments on the university’s campus. The couple also created an endowed scholarship in the name of Wilbur’s former roommate and lifelong friend, the Rev. Bruce Gearhart.

 

VDOT buys Owens & Minor’s Hanover HQ for $33.5M

The Virginia Department of Transportation has purchased the Mechanicsville headquarters of Owens & Minor for $33.5 million, with plans to move the state agency’s central office there in summer 2025.

Much of VDOT’s staff will move from the Annex building at 1401 E. Broad St. into the new building at 9120 Lockwood Blvd. in Hanover County, according to Jessica Cowardin, assistant director of communications for the state agency. The 160,000-square-foot campus in Atlee Station Business Park was built by Timmons Group in 2006. VDOT also purchased an additional 50 acres, according to Newmark Group, which brokered the deal.

Meanwhile, Owens & Minor expects to vacate the building by the end of this year. The Fortune 500 global health care logistics and supplies company plans to relocate its corporate headquarters somewhere in the Richmond region. While declining to specify where the company would move, a company spokesperson said the move “better reflects the current needs of our organization and our teammates.” Owens & Minor has 1,400 employees in Virginia and more than 20,000 worldwide, including hundreds of workers in the Richmond area.

The move will not impact the company’s operations and is a reflection of workplace trends and worker preference, according to the company.

Owens & Minor headquarters
Photo courtesy Newmark

In November 2020, Owens & Minor announced it was pulling the plug on its 90,000-square-foot downtown Richmond call center and would be seeking tenants to sublet the space after so many workers started working remotely.

“We’re proud that Owens & Minor has called Richmond, Virginia, home for more than 100 years, and look forward to our continued presence in the local community,” a statement from the company said.

Brandon Turner, director of Hanover County Economic Development, said Monday that he doesn’t expect Owens & Minor’s next headquarters to be located in the county. “It would be very difficult because we don’t have a lot of Class A office space,”  he said. “What we have is very small, and I think what they’re looking for is larger than what we have available on the market in Hanover.”

Owens & Minor moving to a new headquarters is a double-edged sword, Turner said. The company will be off the county’s tax roll and VDOT, as a Virginia state agency, will not pay taxes.

“That in and of itself is a bit of a hit,” Turner said. “On the flip side, the building is heavily underutilized right now by Owens & Minor due to their [work-from-home] policies. When VDOT comes up, they will bring significantly more individuals up here, and those people will be going out into the neighboring businesses [and] eating, buying groceries, whatever. So if you own a business in this corridor, it’s going to be a boon.”

Andrew Sandquist and Adam Faulk, JC Asensio and Adam Petrillo,  Briggs Goldberg, Will Bradley and Mark Williford, all of Newmark, represented the seller on the transaction.

Owens & Minor reported $10.3 billion in 2023 revenues, up from $9.9 billion in 2022.

Chesterfield fintech Paymerang to be acquired for $475M

Chesterfield County-based payment and invoice automation company Paymerang has signed a definitive agreement to be acquired by Atlanta-based corporate payments processor Corpay for $475 million, according to an SEC filing by Corpay and a news release.

The transaction is expected to close in the second quarter of the year, subject to regulatory approval and standard closing conditions. McLean-based Aldrich Capital Partners, a growth equity firm, is parting with Paymerang, after acquiring the company in 2018 following a $26 million investment.

Corpay’s acquisition of Paymerang expands the Atlanta’s company presence in education, health care, hospitality and manufacturing, according to the news release. Paymerang has 300 employees and the company will stay where it is, with no leadership changes expected, a company spokesperson told Virginia Business.

“This acquisition is right in our wheelhouse and exactly the kind of transaction we find most attractive. It’s a business growing over 20%, within corporate payments, where we can accelerate growth and profitability,” Corpay Chairman and CEO Ron Clarke said in a statement. “It will help us sell more in several large verticals where Paymerang has a strong position with satisfied customers, ERPs and partners.”

Paymerang has more than 250,000 merchants and Corpaly’s network is more than 1 million vendors and together the businesses will process $120 billion in annual spending.

“Partnering with Aldrich was a game-changer for us during this journey. They provided more than just capital; they were actively involved in refining our go-to-market strategies and scaling our sales model. Their operational expertise helped us expand our product line and steered us through a period of rapid expansion, leading to an astonishing 1200% growth since 2017,” Paymerang CEO Nasser Chanda said in a statement. “Now, by joining Corpay, we are set to broaden our offerings to include cross-border payments and commercial card solutions, marking an exciting new chapter for our team. This transition is a major win for our customers, partners and the Richmond business community.”

In April 2023, Paymerang acquired Australian-based AI data extraction and analysis platform Sypht and the assets of KwikTag, an invoice automation company. Paymerang expanded to Southwest Virginia in August 2022, creating 50 jobs in Wise County.

 

VTG awarded $130M defense contract

VTG, a Chantilly-based engineering firm, has been awarded a five-year, $130 million contract by the Naval Sea Systems Command (NAVSEA) Integrated Warfare Systems Engineering Group, the company announced Tuesday.

The contract is to provide end-to-end engineering services, spectrum management and test and evaluation support for Navy warfare, control and C5I (command, control, communications, cyber and intelligence) systems.

“This marquee program goes a long way toward ensuring the U.S. Navy deploys the most capable, lethal warships to overmatch near-peer adversaries and reinforces VTG’s position as the Navy’s go-to partner for warfare and C5I systems engineering,” John Hassoun, VTG president and CEO, said in a statement.

VTG has provided SEA05H, the group that awarded the contract, with advanced warfare systems engineering, human systems integration, interoperability and test and evaluation engineering for the Navy’s manned and unmanned surface fleet since 2000, according to a news release from VTG.

 

Sterling drone-jamming firm to be acquired by Taser maker Axon

Dedrone, a Sterling-based maker of drone-jamming and detection devices, has reached an agreement to be acquired by Scottsdale, Arizona-based Taser manufacturer Axon Enterprise.

The transaction is expected to close in the second half of 2024, the companies announced Monday, and terms of the deal were not disclosed.

Dedrone’s portable gunlike jammers can thwart aerial drones by disrupting communications links with targeted radio pulses. The company has worked with police departments, the U.S. Army and other military and commercial clients. Dedrone has partnered with the Ukrainian government to provide nearly 300 sensors capable of identifying and detecting radio signatures of nearly 250 different models of drones, according to Dedrone’s website. It has also sent riflelike devices to Ukraine that have been used to jam Russian drones, according to The New York Times.

Dedrone uses AI and machine learning to “provide continuous autonomous interrogation and verification of drones.” Its devices can be used to detect and deter unwanted drones over places such as military bases, airports and public events.

Axon, formerly known as Taser International, is best known for its Taser devices, as well as body cameras, in-car cameras and cloud-based digital evidence management platforms. Its customers include first responders, such as local, state and federal law enforcement officers.

“Dedrone will strengthen Axon’s ability to help customers safeguard their communities, improve response to critical incidents and protect even more lives in more places,” the companies wrote in a news release announcing the acquisition. 

“By combining Axon’s 30-year legacy of innovation with Dedrone’s cutting-edge airspace security solutions, we aim to revolutionize public safety once again,” Axon founder and CEO Rick Smith said in a statement. “Together, we will accelerate our efforts in creating a more advanced end-to-end drone solution that enables the good drones to fly and helps ensure the bad ones don’t.”

Axon rebranded from being called Taser International in 2017. Axon reported revenue growth of 34% for the first quarter of 2024 and reported recurring revenue growth of $825 million.

Dedrone was founded in February 2014. The company has raised more than $100 million since 2015.

“Dedrone’s growing impact across industries such as federal governments, utilities and critical infrastructure, event venues, airports, correctional facilities and other enterprises, coupled with Axon’s powerful ecosystem of connected devices and software, will put us at the forefront of ensuring not only the safety of our communities but also the security of nations around the world,” Dedrone CEO Aaditya Devarakonda said in a statement.

Chartway Credit Union names new CFO

Virginia Beach-based Chartway Credit Union has hired Sander Casino as its chief financial officer, the credit union announced Wednesday.

Casino was most recently senior vice president of finance for Raleigh, North Carolina-based Local Government Federal Credit Union and its affiliate Civic Credit Union. Before joining LGFCU in 2012 and Civic in 2018, Casino was with RBC Bank for about a decade, where he was director of treasury. He has 26 years of experience in the financial sector.

“Sander’s résumé speaks for itself, but the distinction between who he is and what he does is evident,” Chartway President and CEO Brian Schools said in a statement. “He’s a great person and will be a great leader at Chartway.”

Casino has a bachelor’s degree in business administration in finance from the University of Massachusetts’ Isenberg School of Management, a graduate certificate in financial markets from Boston University, and an advanced certificate in management, innovation and technology from the MIT Sloan School of Management.

With branches in Utah, Texas and Virginia, Chartway has more than 230,000 members and about $2.7 billion in total assets.