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Va. hotel revenues in February up 14.9% from 2019
Hotel revenues in Virginia were 14.9% higher in February compared with pre-pandemic levels, largely because of increased room rates, according to data released Tuesday by STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold increased by 4.3% last month compared wi[...]
Chesterfield County kicks off $210M mixed-use project
Chesterfield County officials began demolition Tuesday of the former Best Products Co. Inc. building in the Spring Rock Green shopping center to clear the way for the $210 million first phase of the Springline at District 60 mixed-use development. The 42-acre first phase of the project, located on Midlothian Turnpike off Chippen[...]
Virginia ABC to hold Secretariat bourbon lottery
Bourbon fans should gallop to enter the Virginia Alcoholic Beverage Control Authority’s online lottery later this month for 187 autographed bottles of Secretariat Reserve Straight Bourbon, celebrating the 50th anniversary of the thoroughbred’s 1973 Triple Crown sweep. The bourbon comes from Charlottesville-based Ragg[...]
Boeing to build 184 helicopters under $1.9B contract
Arlington-based Boeing Co. will build 184 AH-64E Apache attack helicopters for the U.S. Army and international customers under a $1.9 billion contract modification announced by the Pentagon Friday. The award brings the contract’s total funded value up to $2.1 billion and has the potential to surpass more than $3.8 billion [...]
Hampton Roads housing market appears to stabilize
The Hampton Roads housing market appears to be stabilizing, according to a new report from the Real Estate Information Network Inc. (REIN). “We expect 2023 to be similar to pre-pandemic years where inventory increases in the spring and summer, and as long as buyers have inventory to choose from, they’re going to shop for[...]
Four Richmond-area distribution centers sell for $105.6M
A joint venture between Glen Allen-based Lingerfelt and Swiss private investment firm Partners Group bought three Chesterfield County distribution centers and one Hanover County facility for $105.6 million, Lingerfelt announced Friday. The four multi-tenant facilities are 100% leased to 18 tenants and total 1.16 million square f[...]
Naval operations building in Suffolk sells for $33M
The U.S. Fleet Cyber Command Center of Operations, a 114,045-square-foot building in Suffolk, has changed ownership. The building, part of a secure naval operations campus, sold for $33.25 million, according to Colliers Government Solutions. It is located at 115 Lake View Parkway in Suffolk. The seller of the building is Salus G[...]
Two Roanoke apartment properties sell for $3.35M
A 26-unit multifamily community and a 16-unit apartment complex in Roanoke sold together for $3.35 million on Feb. 10. Located at 2002 Langdon Road SW, the 26-unit community, Langdon Square at Raleigh Court, has 22 garden-style apartments built in 1985 and four townhomes built in 1990. The structure is 59,407 square feet total, [...]
UR alumni couple donates $25M for student learning center
Carole and Marcus Weinstein, alumni of the University of Richmond, have donated $25 million — the second-largest single gift in the Richmond university’s history — to support a center focused on student learning, UR announced Wednesday. The Carole and Marcus Weinstein Learning Center will be located in the Boatwright M[...]
German electronics manufacturer to add 100 Va. jobs
Germany-based Zollner Elektronik AG will invest $18 million to expand in Virginia, including boosts to its electronics manufacturing operations in Danville as well at the company’s U.S. headquarters in Leesburg, adding 100 jobs, Gov. Glenn Youngkin announced Wednesday. The expansions include $14 million to expand manufacturing operations in the Danville-Pittsylvania County Regional Industrial Facility Authority-owned […][...]
DXC penalized by SEC over misleading financial info
Ashburn-based Fortune 500 IT company DXC Technology Co. has been penalized by the federal government for making “misleading” financial reports from 2018 to early 2020, according to the U.S. Securities and Exchange Commission. DXC did not admit or deny the charges, but consented to a cease-and-desist order and agreed [...]
Parsons to acquire N.J. software company
Centreville-based Fortune 1000 defense contractor Parsons Corp. has entered into an agreement to acquire IPKeys Power Partners Inc., a New Jersey provider of enterprise software platform solutions, the company announced Tuesday. The $43 million acquisition is expected to close in the second quarter. IPKeys Power Partners deliver[...]
