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3950 Chain Bridge Road. Photo courtesy S.L. Nusbaum
Nov 7, 2020

Commercial building in Fairfax sells for $1.8M

A three-story mixed-use commercial building in Fairfax sold for $1.8 million, Norfolk-based S.L. Nusbaum Realty Co. announced this week.  Located at 3950 Chain Bridge Road, The Moore-McCandlish House is a 6,550-square-foot historical building constructed in 1840. The property, which sits on 0.48 acres, was 96% leased at the tim[...]

Nov 6, 2020

Construction industry recovered 84K jobs in October

While the pandemic surges on, the construction industry added 84,000 net new jobs in October, the Associated Builders and Contractors (ABC) announced Friday. During the past six months, the industry has added 789,000 jobs, recovering 73% of jobs lost during the pandemic. “It’s hard not to stand up and applaud the U.S. economy’s ability to […]

Eric D. Reicin, BBB National president and CEO and David Kelley with Fairfax County Economic Development Authority at the ceremonial ribbon cutting of the new office space. Photo courtesy BBB National Programs.
Nov 6, 2020

BBB National Programs opens new HQ office in Tysons

Nonprofit BBB National Programs announced Friday the opening of its new 15,300-square-foot headquarters in Tysons. Located at 1676 International Drive, the  location will allow for an operations expansion and allow BBB National Programs to grow its portfolio of self-regulation and dispute resolution programs, according to an or[...]

An artist depiction of the Columbia-class submarine for the U.S. Navy. Photo courtesy General Dynamics
Nov 6, 2020

General Dynamics lands $9B+ contract modification

The U.S. Navy on Thursday awarded the Electric Boat subsidiary of Reston-based Fortune 100 defense contractor General Dynamics Corp. a $9.474 billion contract modification to build and test the first two Columbia-class intercontinental ballistic missile submarines — the largest ever built by the United States — and provide r[...]

Rendering of new Iowa facility. Courtesy BAE Systems
Nov 6, 2020

BAE Systems announces $100M investment in Iowa facility

Arlington-based defense contractor BAE Systems Inc. announced Thursday it is investing more than $100 million to construct a facility in Cedar Rapids, Iowa, for its newly acquired navigation and sensor systems business, which makes mission-critical military GPS products. “Our world-class military GPS business is built on the r[...]

Nov 6, 2020

Cincinnati consulting firm buys McLean tech contractor

Cincinnati-based engineering, consulting and technical services company Belcan LLC announced late last week it has acquired McLean-based tech contractor Telesis Corp. Financial terms of the acquisition were not disclosed.  This marks Belcan’s 15th acquisition under its ownership by AE Industrial Partners LP, a private equity firm that specializes in aerospace, defense and government services, power […][...]

Nov 5, 2020

Ill.-based company to acquire Madison County-based life sciences consulting firm

Western Springs, Illinois-based consulting company The Planet Group, a MidOcean Partners portfolio company, announced Thursday it has entered into an agreement to acquire Rochelle-based life sciences management consulting firm NDA Partners.  Financial terms of the acquisition were not disclosed. This marks The Planet Group’s fourth acquisition. Founded in 2003, NDA Partners provides consulting services for […][...]

Nov 5, 2020

Roanoke tech company buys Md.-based fiber optic manufacturer

Roanoke-based optical technology company Luna Innovations Inc. announced late last week it has acquired Owings Mills, Maryland-based fiber optic equipment manufacturer New Ridge Technologies LLC. Financial terms of the deal were not disclosed.  New Ridge Technologies develops and manufactures fiber optic test and measurement equipment and advanced fiber optic subsystems for telecommunication applications. The acquisition […][...]

Nov 5, 2020

General Dynamics business unit wins $42.6M contract modification

The U.S. Navy awarded Fairfax-based General Dynamics Mission Systems a $42.6 million contract modification to continue work on sustaining integrated combat management systems and associated platforms used by the branch’s littoral combat ships, the Department of Defense announced Wednesday. General Dynamics Mission Systems is a business unit of Reston-based defense contractor General Dynamics Corp. Under […][...]

Nov 5, 2020

Herndon data center development company acquired by Stockholm firm

Herndon-based data center development company EdgeConneX announced Thursday the closing of its acquisition by Stockholm-based EQT Infrastructure from an investor group led by Providence Equity Partners.  Financial terms of the deal were not disclosed. The companies received regulatory approval for the definitive agreement that was first announced Aug. 19. The acquisition by EQT Infrastructure will […][...]

Virginia Business Political Roundtable 2020
Nov 5, 2020

2020 Virginia Business Political Roundtable

On Nov. 4, Virginia Business magazine held our 14th annual Political Roundtable event, sponsored by Cox Communications. Virginia Business Editor Richard Foster moderated a virtual discussion with a panel of five statewide political experts, who debated the latest developments in the November presidential election and what it mea[...]

Nov 5, 2020

Trustar Bank announces first acquisition

Great Falls-based Trustar Bank announced its first-ever acquisition Wednesday, taking control of Fairfax-based Granite Mortgage LLC.  The acquisition will add Granite Mortgage’s full-service mortgage business line to Trustar’s (founded in 2019) banking services. Granite Mortgage will become a wholly owned subsidiary of Trustar, the first bank to be chartered and opened in Virginia in more […][...]

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