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Williamsburg’s Midtown Row to be acquired for $122M
Broad Street Realty Inc. will acquire Midtown Row in Williamsburg for $122 million, the Bethesda, Maryland-based company announced on Feb. 22. It previously has served as the mixed-use development’s manager and leasing broker. Broad Street is acquiring the 221 Monticello Ave. property from a joint venture whose controlling[...]
Walgreens to establish $34.2M fulfillment center in Hanover
Walgreens will invest $34.2 million to establish a micro-fulfillment center in Hanover County, a project expected to create 249 jobs, Gov. Glenn Youngkin announced Friday. The 65,686-square-foot facility will be located at the 185,000-square-foot Atlee Station Logistics Center and will have automated machinery to allow for a fle[...]
Amentum seals deal on $1.9B PAE acquisition
The $1.9 billion, all-cash acquisition of Falls Church-based government contractor PAE Inc. (Pacific Architects and Engineers) by an affiliate of Germantown, Maryland-based aerospace defense contractor Amentum Services Inc. has closed, the two companies have announced. The deal, which closed Feb. 15, was first announced in Oct[...]
Fed still likely to raise rates, despite Russia-Ukraine conflict
Federal Reserve Bank of Richmond President and CEO Thomas Barkin said Thursday that he hopes to bring interest rates up to pre-pandemic levels “relatively quickly,” while noting that it’s hard to predict the future effect of the geopolitical conflict between Russia and Ukraine on the nation’s economy. Spe[...]
Youngkin signs bill to conform tax code
This year’s tax season may be a little less complicated for businesses that were granted Paycheck Protection Program loans and Rebuild Virginia grants during the pandemic. A bill that Gov. Glenn Youngkin signed into law Wednesday will ensure that the aid granted through those programs won’t be treated as taxable inco[...]
Noblis announces new CEO
Noblis Inc. President and CEO Amr ElSawy will step away in October after 15 years leading the company, the Reston-based not-for-profit federal contractor announced this week. Mile Corrigan, senior vice president of Noblis’ Federal Civilian Solutions (FCS) division, has been named executive vice president and will become pr[...]
Northrop Grumman wins $341M contract to develop deep space radar
Falls Church-based Fortune 500 defense contractor Northrop Grumman Corp. has won a $341 million contract from the U.S. Space Force to develop and test a ground-based surveillance radar in support of its Space Domain Awareness mission, the contractor announced Wednesday. The Deep-Space Advanced Radar Capability is expected to enh[...]
Fairfax-based Guidehouse names chief technology officer
Fairfax-based Guidehouse has named Dan Hushon to lead its technology efforts. As chief technology officer, Hushon will lead transformational activities as Guidehouse speeds delivery of digital solutions for its commercial and public sector clients. He will also lead the company’s next generation cloud computing solutions a[...]
HII announces corporate, human resources promotions
Newport News-based Huntington Ingalls Industries, the nation’s largest military shipbuilder, has promoted Edmond Hughes to executive vice president and chief human resources officer, the company announced Thursday. Hughes has served as vice president of human resources and administration contracts at HII’s Ingalls Sh[...]
Arlington cybersecurity firm promotes CEO
Jennifer Tisdale has been promoted to CEO of GRIMM, the Arlington-based cybersecurity firm announced Tuesday. She was previously the firm’s senior principal of cyber-physical systems security. “Having spent the last decade dedicated to the advocacy of cybersecurity research and testing, it is an honor to lead the strateg[...]
Allianz promotes North American CEO to global position
Henrico County-based travel insurance company Allianz Partners USA has promoted CEO Elena Edwards to chief markets officer at the company’s French parent company, Allianz Partners Group. Jeff Wright, the company’s chief financial officer, is succeeding Edwards as CEO of the U.S. business unit. Edwards will retain her[...]
U.Va. creates new center for real estate
The University of Virginia has established a new Center for Real Estate and the Built Environment at the McIntire School of Commerce with a $10 million alumni gift, the university announced Tuesday. The center, which will serve as a hub to bring together U.Va.’s commercial real estate curriculum with university research, i[...]
