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Downtown Norfolk Council adds 2 execs
The Downtown Norfolk Council announced two leadership changes Monday. Rachel McCall has been promoted to vice president, from director of strategic initiatives. She has been with DNC since 2014 in a variety of roles, advancing the NEON District — Norfolk’s arts district — and other initiatives. In her new role, she wil[...]
SES completes $450M purchase of Leonardo DRS satellite biz
Reston-based satellite telecommunications company SES Government Solutions has completed its $450 million acquisition of Arlington-based Leonardo DRS Inc.’s Global Enterprise Solutions satellite communications subsidiary following receiving regulatory approval. SES Government Solutions, a subsidiary of the Luxembourg-based satellite telecommunications network company, announced the deal’s completion Aug. 1. Leonardo DRS, a s[...]
Restoration Bioproducts to build $5.8M biochar plant
Lynchburg-based Restoration Bioproducts LLC will invest $5.8 million and build Virginia’s first biochar production facility in Sussex County, creating five jobs and purchasing 34,560 tons of Virginia-grown wood products, Gov. Glenn Youngkin announced Monday. Wood pellet manufacturer Wood Fuel Developers is already in Waverly. Restoration Bioproducts will use pyrolysis technology to turn wood waste from […][...]
Axios to be sold to Cox Enterprises for $525M
Axios Media Inc., the Arlington-based digital media company and news outlet, announced Monday it will be sold to investor Cox Enterprises Inc. for $525 million in a deal reached Sunday. The company is expected to reach $100 million in revenue this year, it says. According to Axios, its three co-founders — CEO Jim VandeHei, Pre[...]
Chesapeake industrial building sells for $10.2M
A 152,180-square-foot industrial property in Chesapeake has sold for $10.275 million, S.L. Nusbaum Realty Co. announced in July. Chesapeake Dexter St West LLC purchased the property, located at 101 Dexter St. West in Chesapeake, from On Trading Corp. The building is on 13.89 acres and was fully leased at the time of the sale. It[...]
Newport News apartments sell for $9.75M
A Newport News apartment complex has sold for $9.75 million, S.L. Nusbaum Realty announced Aug. 2. 53 Colony Square Court LLC has purchased Colony Square Apartments, which has 92 units, from Lyn Van Turette Trust LLC. The buyer is planning extensive renovations to the property, which is on 4.82 acres. Bill Overman and John Wessl[...]
General Dynamics subsidiaries land new defense contracts
Subsidiaries of Reston-based Fortune 500 contractor General Dynamics Corp. have received multiple defense contracts in recent weeks totaling more than $1.6 billion with the potential for more. On Thursday, the Pentagon announced that the company’s San Diego-based National Steel and Shipbuilding Co. received an $890 million modification to a contract for construction of the seventh […]
More Diamond District details released; city narrows pool to 2 developers
Richmond has narrowed its pool of Diamond District development team finalists from three to two, city officials announced Friday, while releasing some more details about the competing proposals, which include thousands of residential units and a new Richmond Flying Squirrels stadium expected to be paid for with bonds. Still in t[...]
SCC approves Dominion’s $9.8B offshore wind farm
The State Corporation Commission has approved Dominion Energy Inc.’s application for the proposed $9.8 billion Coastal Virginia Offshore Wind Project (CVOW), which calls for the construction of 176 wind turbines 27 miles off the coast of Virginia Beach. The Richmond-based Fortune 500 utility has already erected two pilot t[...]
Amazon opens new Chesapeake facility
Last week Amazon.com Inc. opened its new, 640,000-square-foot processing facility in Chesapeake, the global e-tailer’s first cross-dock fulfillment center in Virginia. About 900 of the 1,000 workers that Amazon announced it would be hiring for the facility are already on the job, an Amazon spokeswoman told Virginia Busines[...]
Six Va. companies land spots on Fortune Global 500
Six Virginia-based companies have landed spots on Fortune Magazine’s Global 500 list, which was released Thursday and ranks the world’s 500 largest corporations by total revenue. Walmart Inc. took the top spot on the list, reporting $572 billion in revenue, retaining its top spot from last year. Amazon.com Inc. follo[...]
BWXT appoints new president of nuclear operations
The new president of BWX Technology’s Nuclear Operations Group Inc. spent three decades working for the Navy as a civilian. Sharon H. Smoot started her new position Aug. 1. She is responsible for the BWXT subsidiary’s mission to provide a range of nuclear components and services, including manufacturing reactor components for Navy submarines and aircraft […]
