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State General Fund revenues increased 7.6% in December
Total state General Fund revenues rose 7.6% in December with help from growth in payroll withholding, sales and use taxes and recordation tax collections, Gov. Ralph Northam announced Monday. “This continued strong revenue performance gives us confidence that we can achieve the forward-looking agenda I have laid out, while also putting money into our cash […]
Samsung Electronics acquires Chantilly tech firm
Samsung Electronics has acquired Chantilly-based network services provider TeleWorld Solutions (TWS), Samsung announced Monday. Financial terms of the deal were not disclosed. TWS, a privately-owned company, will operate as a wholly-owned subsidiary of Samsung Electronics America Inc. Samsung will continue to offer TWS services such as network design, installation, testing and optimization. TWS leadership will […][...]
CoStar plans doubling Richmond workforce as part of Navy Hill development
CoStar Group, the Washington, D.C.-based commercial real estate analysis company, announced Monday it plans to build a 400,000-square-foot building in downtown Richmond, doubling its local workforce, as part of the proposed $1.5 billion Navy Hill development. CoStar would double its number of employees to 2,000 in Richmond, wher[...]
Truist’s new branding reflects BB&T and SunTrust merger
Truist Financial Corp. has unveiled a new logo and other branding following the completion of the December 2019 merger of Branch Banking and Trust Co. (BB&T) and SunTrust Banks Inc. “Our visual brand identity speaks to the importance of human touch and dynamic technology in delivering trusted solutions to our clients,&[...]
Pamunkey tribe, city sign Norfolk casino agreements
The city of Norfolk and the Pamunkey Indian Tribe announced Monday that the tribe’s proposed $700 million casino along the Elizabeth River is moving closer to reality. According to a tribe press release Monday, the Pamunkey and the city have signed two agreements: an option to purchase 13.4 acres of undeveloped city property a[...]
Henrico office building sells for $6.3M
A Henrico County office building, the Campbell Building, sold for $6.3 million to Atlanta-based B&C CCPB LLC, Canada-based real estate company Colliers International announced Monday. The 55,920-square-foot class B office building is located at 8002 Discovery Drive in the Forest Avenue office corridor. HCA Healthcare’s[...]
SAIC nets $727M Air Force contract
Reston-based information technology company Science Applications International Corp. (SAIC) received a $727 million contract from the U.S. Air Force that will move mission applications for the Air Force and Army to the cloud, SAIC announced Friday. SAIC was founded in 2013 and provides systems engineering, cloud migration, analytics, simulation, training and other IT services to […]
Reston-based Ellucian names chief product officer
Reston-based higher education software company Ellucian has named Stephen Laster as its chief product officer, the company announced Friday. Ellucian provides products for higher education such as student information systems, data analytics tools and graduation-tracking platforms for more than 2,700 customers. Laster will lead p[...]
Advantia Health receives $45M investment
Arlington-based Advantia Health, which facilitates women’s health care services via its online platform, announced Friday that it received a $45 million investment from New York City-based investment management company BlueMountain Capital Management. Advantia connects customers to OB-GYN, primary care, mental wellness and specialist care providers. The company will use the investment to hire more providers, […][...]
Roanoke shopping center sells for $2.8M
Roanoke’s Springwood Park Retail Center has sold for $2.8 million, Roanoke-based Poe & Cronk Real Estate Group announced Friday. The shopping center at 3214 Electric Rd. is a 19,200-square-foot mixed use building used for retail and office space. Springwood Park was 98% leased at the time of the sale and its tenants includ[...]
Segall Group names principal and COO
Rich Sutphin was named as principal and chief operating officer for Segall Group Commercial Real Estate, the company announced Friday. Segall is based in Baltimore, Maryland, but has an office in Arlington’s Rosslyn neighborhood where Sutphin is based. As principal and COO, he will oversee the firm’s sales, leasing, business[...]
Olive oil manufacturer pays $5M for Suffolk plant
International olive oil manufacturer Acesur USA LLC purchased an 87,870-square-foot, two-story manufacturing facility in Suffolk for $5.025 million, Cushman & Wakefield | Thalhimer announced Thursday. Acesur has been producing, packaging and marketing olive oil since 1840 and is headquartered in Dos Hermanas, Seville, Spain. It bottles olive oil brands such as Coosur and La Española […][...]
