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Va. median home sales price breaches $400k for first time
The statewide median sales price for a home in May rose above $400,000 for the first time, according to the Virginia Realtors’ May 2022 Virginia Home Sales Report. The median price was $401,082, up 8.7% and more than $32,000 from a year ago. In total, 13,048 homes sold in Virginia in May, an 8.5% decrease […]
Hanley Energy to add 343 jobs in Ashburn
Irish energy management company Hanley Energy will invest $8 million to expand its Hanley Energy Electrical division in Loudoun County, a project expected to create 343 jobs, Gov. Glenn Youngkin announced Thursday. Hanley Energy will open a facility at 44381 Russell Branch Parkway to serve the data center market in Ashburn with [...]
Va. Tech receives $1M gift for learning accelerator
Virginia Tech on Tuesday announced that it will establish a new learning accelerator at the university’s Pamplin College of Business through a $1 million gift from an alumnus and his wife. Omar Asali, a 1992 Virginia Tech graduate and chairman and CEO of Ohio-based Ranpak Holdings Corp., made the gift with his wife, Rula, [...]
Amtrak to boost service in Norfolk, Roanoke, Newport News
Amtrak will add a third daily departure from Norfolk and a second daily departure from Roanoke on its Northeast Regional route, while also bolstering train service in Newport News, all beginning July 11. The train already departs from Norfolk early in the morning and mid-morning, so the third departure will be in the early after[...]
Barkin: Inflation high, but Fed has tools to contain it
Tom Barkin agrees — inflation is too high. But he also says the Fed has the authority to get it back on the right track. That’s what the president and CEO of the Federal Reserve Bank of Richmond told the Richmond chapter of the Risk Management Association on Tuesday at Triple Crossing Beer, a brewery […]
Northrop Grumman division lands $458M Navy contract
A division of Falls Church-based Northrop Grumman Corp. won a $458 million contract to support the Navy’s Columbia and Dreadnought Fleet Ballistic Missile Program, the U.S. Department of Defense announced Friday. Under the cost-plus-incentive-fee and cost-plus-fixed-fee contract, Northrop Grumman’s Marine Systems in Sunnyvale, California, will provide fiscal 2022 through 2026 shipyard field operations, program management, […][...]
McLean-based ID.me lays off 54 workers
McLean-based tech company ID.me Inc. has laid off 54 employees, months after the Internal Revenue Service — among other government agencies — said it would drop its plan to require taxpayers to submit to facial recognition via ID.me’s software. Fifty-four employees lost their jobs, according to the Worker Adjustment an[...]
Peraton nets $916M intelligence contract
Herndon-based Peraton Inc. has been selected for a seven-year contract valued at $916 million to provide integrated, enterprise-wide management services to the Office of the Director of National Intelligence, the company announced Tuesday. The task order includes communications, human capital, data analysis, knowledge management[...]
Alexandria apartments sell for $50.1M
Baltimore-based Continental Realty Corp. has sold 101 North Ripley Apartments in Alexandria for $50.1 million, the company announced last week. Washington, D.C.-based real estate investment and management firm Willow Creek Partners acquired the apartment community, formerly known as Parkwood Court. The community has 189 units, w[...]
Lingerfelt sells Va. Beach hotel for $82M
Richmond-based commercial real estate investment firm Lingerfelt Commonwealth Partners LLC has sold the Delta Hotel by Marriott Virginia Beach Bayfront Suites for $82 million to New York-based Black Pearl Capital, Lingerfelt announced June 17. Lingerfelt Commonwealth Partners acquired the hotel in 2018 for $19 million and comple[...]
Leonardo DRS, Israeli company to merge
Arlington-based Leonardo DRS Inc., a subsidiary of Italian defense contractor Leonardo SpA, and Israel-based Rada Electronic Industries Ltd. have entered into a definitive agreement to merge and become a combined public company later this year, the contractors announced Tuesday. Rada will become a wholly-owned subsidiary of Leon[...]
Two govcons to merge, move HQ to NoVa
Colorado-based government contractor Vectrus Inc. and Mississippi-based The Vertex Co. will merge to form a company that will be based in Northern Virginia. Vectrus shareholders approved the all-stock merger, expected to close in the third quarter of 2022, on Wednesday. The combined company will be named V2X Inc. and will trade [...]
