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Norfolk shopping center sells for $25M
A shopping center on Tidewater Drive in Norfolk with 20 acres of land sold for $25 million, Cushman & Wakefield | Thalhimer announced Monday. River City Capital LLC purchased the 246,000-square-foot Southern Shopping Center from Southern Shopping Center LLC. Situated on 20 acres, Southern Shopping Center is anchored by a Foo[...]
Ashburn Walgreens store sells for $9M
A Walgreens drugstore retail location in Ashburn sold for $9 million on Dec. 1, according to Loudoun County online property records. Tater Ashburn LLC purchased the 88,862-square-foot building at 20321 Susan Leslie Drive from Wirrulla Livermore LLC. The building sits on about two acres of land and is leased to Walgreens. Marcus [...]
Northrop Grumman subsidiary lands $1.4B Army contract
The U.S. Army awarded a subsidiary of Falls Church-based Northrop Grumman Corp. a $1.38 billion contract to work on the Integrated Battle Command System, the Department of Defense announced Dec. 23. The hybrid contract was awarded to Northrop Grumman Systems Corp. by the U.S. Army Contracting Command out of Restone Arsenal, Alabama. The contract is […]
Chantilly’s CTSI acquires Fla. security firm
Chantilly-based technology firm Corbett Technology Solutions Inc. (CTSI) announced Tuesday it had acquired Orlando, Florida-based risk, resilience and security services provider Star Asset Security. Financial terms of the transaction were not disclosed. CTSI is a portfolio company of Chicago-based private equity firm Wind Point Partners. The transaction is CTSI’s sixth acquisition since it was acquired […][...]
30 Va. projects awarded $24.5M in flood prep grants
The Virginia Community Flood Preparedness Fund has awarded $24.5 million in grants for 30 projects statewide, Gov. Ralph Northam announced Thursday. “The Community Flood Preparedness Fund will provide an estimated $75 million a year to improve the resilience of our commonwealth, including targeted funding for Virginia’s most vulnerable and underserved communities,” Northam said in a […][...]
$40.8M apartment building in Alexandria sells
A 227-unit apartment building in Alexandria assessed at $40.8 million sold for an undisclosed sum, JLL Capital Markets announced Tuesday. JLL Capital Markets arranged a three-year $34.34 million loan for commercial real estate company Washington Property Co., which brought the property from 100 South Reynolds LLC. The loan was s[...]
Construction starts on $100M industrial center in Hanover
Construction started Dec. 9 on the $100 million, 1.1-million-square-foot East Coast Commerce Center in Hanover County. The speculative industrial project is slated for completion in mid-summer 2022. The 129-acre center will have 120 truck docks, 540 trailer parks, 8-foot floor slabs, a 2:1 parking ratio and more than 35 surplus [...]
Va. had fewer job openings in October
Virginia had 308,000 job openings in October, the largest drop in openings among U.S. states, as well as 108,000 quits, according to U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) data released Dec. 17. In September, Virginia had a record-setting 336,000 job openings, but in October, openings declined by 28,000, […]
ODU earns R1 classification in national ranking
Old Dominion University has earned the highest research activity classification in the Carnegie Classification of Institutions of Higher Education, the university announced Tuesday. ODU is now one of 137 four-year research institutions with the Research 1 classification, which indicates “very high research activity.” To rece[...]
$55M affordable housing community to be built in Richmond
Construction is set to start in January 2022 on a new $55 million affordable housing community in Richmond, developer Dakota Partners announced this week, after having purchased a 14.4-acre parcel at 2200 Brady St. on Richmond’s South Side. To be known as Brady Square, the community will include 264 residential units in tw[...]
Va. hotel revenues down 19% from Nov. 2019 levels
Virginia hotel revenues in November were 19% below November 2019 levels, according to data released Wednesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 12% compared with 2019 levels. The average daily rate (ADR) paid for [...]
U.Va. alumni make $5M gift to fund professorship
University of Virginia alumni Donna and Richard Tadler made a gift of $5 million that will be used to create a professorship of entrepreneurship at their alma mater, U.Va. President Jim Ryan announced earlier this month. The gift will be matched with $5 million more from the university’s Bicentennial Professorship Fund, for a total investment […]
