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Jan. Va. home inventory was at all-time-low
Virginia’s housing market set another record in January, hitting an all-time-low of inventory, according to a new report released by Virginia Realtors this week. At the end of last month, there were 12,203 total active listings, which is 4,478 fewer than this time in 2021, a drop of nearly 27%, according to the industry gr[...]
Marina Point Apartments in Chesapeake sell for $14.15M
The Marina Point Apartments complex in Chesapeake has sold for $14.15 million, brokerage firm Marcus & Millichap announced Feb. 23. MRKT Realty LLC acquired the property from a joint venture headed by Phil Capron, according to Marcus & Millichap. The 104-unit multifamily property located at 1301 Canal Drive includes 13 b[...]
Chesapeake office buildings sell for $18.9M
Two office buildings in the Greenbrier area of Chesapeake have been sold for $18.9 million, Cushman & Wakefield | Thalhimer announced Feb. 22. Miami-based KAS Partners acquired Greenbrier Office Towers I and II from FP Greenbrier Towers LLC, according to Chesapeake property records. The 171,762-square-foot Class A office por[...]
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[...]
