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Americas Best Value Inn Norfolk. Photo courtesy Marcus & Millichap
Sep 25, 2020

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[...]

Sep 25, 2020

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’[...]

Sep 24, 2020

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 […]

Sep 23, 2020

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 […]

Ronald A. Crutcher. Photo courtesy University of Richmond
Sep 23, 2020

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 […[...]

Rosslyn City Center. Photo courtesy American Real Estate Partners
Sep 23, 2020

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[...]

Sep 23, 2020

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 […][...]

Sep 22, 2020

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 […][...]

Sep 22, 2020

CIA launches CIA Labs for R&D

The Central Intelligence Agency, based in McLean, announced Monday it has launched CIA Labs, which will see its officers collaborate with private sector professionals, academic professionals and others to develop mission technology. CIA Labs will be part of the Federal Laboratory Consortium and will conduct research, development, testing and engineering for scientific and technological issues.  […][...]

Sep 22, 2020

Northam announces higher ed refinancing plan

While higher education institutions have needed to make budget cuts due to the pandemic, Gov. Ralph Northam announced Tuesday a higher education refinancing plan that would save Virginia’s public colleges and universities a total of more than $300 million (among 16 schools) during the next two years.  Taking advantage of low interest rates, the state […]

Sep 22, 2020

Mitre lands $463M Air Force contract

The U.S. Air Force awarded McLean-based The Mitre Corp., a nonprofit that conducts research for government agencies, a $463 million contract to continue to serve as administrator of the National Security Engineering Center (NCES), the U.S. Department of Defense announced Monday. NCES is a federally funded research and development center that provides systems engineering support […]

Sep 22, 2020

The Hilb Group acquires Ct.-based insurance company

Henrico County-based insurance company The Hilb Group LLC (THG) announced Tuesday it has acquired Shelton, Connecticut-based Ganim Group Inc. (Ganim Benefits) from investment advisory company Ganim Financial Inc. Transaction details were not disclosed. This marks THG’s 11th acquisition within the past year. Ganim Benefits [...]

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