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Virginia hotel revenues still down, compared to 2019
Virginia hotel revenues for July 2021 decreased by 3% compared with pre-pandemic levels in July 2019, according to newly released data from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold decreased by 6%. The average daily rate (ADR) paid for hotel [...]
Virginia ABC reports $1.4B in FY 2021 revenue
The Virginia Alcoholic Beverage Control Authority (ABC) reported $1.4 billion in gross revenue for fiscal year 2021, up $163 million over the previous fiscal year. It’s the third year in a row the state authority has surpassed $1 billion. As a division of state government, ABC sends its profits — $616.4 million — to th[...]
Dominion Business Center in Chesapeake sells for $5M
The two-building Dominion Business Center in Chesapeake sold for $5 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Aug. 16. Located at 1001, 1005 and 1009 Scenic Parkway, Dominion Business Center sits on about 21 acres within the 325-acre Dominion Commerce Park. The center is 90% leased to a[...]
Arlington tech contractor acquires Herndon software company
Arlington-based national security technology contractor Two Six Technologies announced Tuesday its first acquisition, of Herndon-based software and analytics company Trusted Concepts Inc. Financial details of the transaction were not disclosed. “I’m absolutely thrilled to welcome Trusted Concepts into the Two Six team,” Two Six Technologies CEO Joe Logue said in a statement. “Trusted Concepts’ co-founders […][...]
DXC Technology shifts CIO to COO
Tysons-based Fortune 500 IT company DXC Technology promoted Chris Drumgoole to executive vice president and chief operating officer, it announced Thursday, when Drumgoole assumed the role. “Going forward as COO, my focus will be to further enhance the productivity of our workforce, simplify and streamline operations and proces[...]
Arlington tech contractor names VP architect
Arlington-based national security technology contractor Two Six Technologies named Daniel J. “Rags” Ragsdale its vice president – architect on Aug. 4. “I’m beyond excited to have the opportunity to work closely with the deeply passionate and well-respected experts who comprise the Two Six Technologies team,” Rags[...]
Gannett names first chief data officer
McLean-based Gannett Co. Inc. named Nate Rackiewicz its first chief data officer, it announced Monday. Rackiewicz will lead a team to implement the company’s customer identity, data and growth analytics, as well as data science and modeling capabilities. He will report to Gannett’s chief marketing and strategy office[...]
Dragas Cos. plans 150-home development in Chesapeake
Virginia Beach-based Dragas Cos. will break ground on a single-family residential development project in Chesapeake in 2022. The project, named Crestfield, will lie on 65 acres off Elbow Road near Centerville Turnpike North. It will have 150 single-family homes of roughly 2,450 to 2,800 square feet each. The houses are expected [...]
Hanover Harley Davidson building sells for $2.9M
A Hanover property that will become the new Peebles Golf Cars headquarters sold for $2.9 million, Colliers | Virginia announced Monday. Located at 10441 Washington Highway, the facility sits on 5.3 acres. Peebles Golf Cars will move its headquarters from Glen Allen to the 31,815-square-foot property. Old Washington Highway LLC b[...]
Lockheed Martin Manassas office wins modification to $190.27M Navy contract
The Manassas office of Lockheed Martin Corp.’s Rotary and Mission Systems sector will add work on a contract the company previously won. The modification is to a $190.27 million Naval Sea Systems Command, Washington, D.C., cost-plus-incentive-fee contract. It is to exercise an option for engineering design development and supporting material procurement, the Department of Defense […]
Two Va. companies among group that won $950M Navy contract
Two Virginia federal contracting companies were part of a group of companies that won a maximum $950 million construction contract from Naval Facilities Engineering Systems Command (NAVFAC) Mid-Atlantic, Norfolk. Along with six other contractors, they can compete for task orders under the terms of the contract, the Department of Defense announced Friday. Virginia Beach-based S.B. […]
Capital Square buys Chesterfield apartment complex for $86M
Henrico County-based Capital Square 1031 purchased the Livingston Apartment Flats in Chesterfield County from Cosby Village Residences LLC for $86 million earlier this month. Whitson Huffman, Capital Square’s chief strategy and investment officer, noted that Chesterfield’s population grew 11% between 2010 and 2019 an[...]
