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Office building in Henrico County sells for $5.85M
An office building in Henrico County has sold for $5.85 million, Cushman & Wakefield | Thalhimer announced Wednesday. Located at 4461 Cox Rd. in the Innsbrook Corporate Center, the 70,000-square-foot office building was approximately 50% occupied at the time of the sale, with printing software company TriMech as the main t[...]
Air Force awards McLean company $40M contract
The U.S. Air Force awarded McLean-based defense contractor Alion Science and Technology Corp. a $40 million contract to provide information technology and cybersecurity services, the Department of Defense announced Wednesday. Under the contract, Alion will provide services including enterprise protection risk management to mitigate the compromise, loss, unauthorized access/disclosure, destruction, distortion or nonaccessibility of missi[...]
Tysons tech company lands $65M Ginnie Mae task order
The Government National Mortgage Association (Ginnie Mae) awarded Tysons-based tech company MicroTech a $65 million task order to provide information technology and software consolidation services and support, the company announced Thursday. Under the task order, MicroTech will perform services to support Ginnie Mae’s mortgage-backed securities platform, including reviewing requirements for new functionality, interfaces and data [&h[...]
NoVa home sales increase during August
Northern Virginia home sales increased during the month of August, according to a report released Wednesday from Chantilly-based Long & Foster, the largest privately owned real estate company in the nation. Alexandria saw the largest increase, at 32%, followed by Arlington and Loudoun counties, which both increased by 15%. Although inventory fell throughout most of […]
Norfolk inn sells for $1.65M
The Americas Best Value Inn Norfolk has sold for $1.65 million, commercial real estate brokerage firm Marcus & Millichap announced Friday. Built in 1959, the 62-room property sits on a one-acre lot at 1850 E. Little Creek Rd. in Norfolk. Maharishi Dayanand Investment Inc. sold the property to Parmeshwari LLC through a 1031[...]
Gov. Northam, first lady test positive for COVID-19
Virginia Gov. Ralph Northam and first lady of Virginia Pamela Northam have tested positive for COVID-19, according to an announcement Friday from the Governor’s Office. On Wednesday evening, the Northams were notified that a member of the governor’s official residence staff, who works closely within the couple’s living qua[...]
State rent, mortgage relief program expands to aid landlords
Gov. Ralph Northam announced Thursday the expansion of the state’s Rent and Mortgage Relief Program (RMRP) to include financial assistance for landlords. The RMRP was launched in late June with $50 million in federal CARES Act funding to assist households facing eviction or foreclosure due to COVID-19. Landlords can now apply to receive financial assistance […]
Va. hotel revenues continue to slip
Virginia hotel revenues continued to worsen last week after a small improvement during the Labor Day weekend, according to data from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. For the week of Sept. 13 through Sept. 19, hotel revenues in Virginia decreased by 52% and rooms […]
University of Richmond president to step down
University of Richmond President Ronald A. Crutcher announced Wednesday he has asked the board of trustees to begin a search for his successor, with plans to have a new president take office no later than July 1, 2022. Following his term as president, Crutcher and his wife, Betty, will travel to Berlin for a sabbatical […[...]
Arlington’s Rosslyn City Center getting $35M renovation
A $35 million renovation project at Rosslyn City Center in Arlington will transform an 84,000-square foot space into a place for all-day dining, working and socializing, real estate lender American Real Estate Partners (AREP) announced Wednesday. AREP will complete the renovation at 1700 N. Moore St., where DMK Restaurants co-fo[...]
Mitre launches data-driven policy center
McLean-based The Mitre Corp., a not-for-profit organization that manages federally funded research and development centers, announced Tuesday it has established the Center for Data-Driven Policy, which will provide evidence-based, objective and nonpartisan insights for government policymaking. “Our team of experts will take what Mitre has learned through research and experimentation and apply those insights to […][...]
Arlington space tech startup receives additional CIT funding
The Herndon-based Center for Innovative Technology (CIT) announced Tuesday that Arlington-based space technology startup NOVI LLC has received a follow-on investment from the state government-backed venture fund CIT GAP Funds. An investment amount was not disclosed. CIT seed- and early-stage investments are made to Virginia-based technology, life sciences and clean tech companies that the center […][...]
