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New ABC laws go into effect July 1
Starting July 1, the Virginia Alcoholic Beverage Control Authority (ABC) will begin enforcing new laws passed by the Virginia General Assembly during its 2021 session, including allowing localities to create special large outdoor entertainment districts where consumption of alcohol would be allowed. Other measures passed by the [...]
Three Blacksburg housing complexes sold for $146M
Three off-campus housing complexes in Blacksburg geared toward Virginia Tech students have been sold for $146 million in a deal closed May 5, Berkadia announced Friday. The buyer, California-based Reliant Group, added the portfolio to its earlier purchase of a student housing property near Virginia Tech. According to Montgomery [...]
Hampton apartments purchased for $2.89M
A 42-unit residential property in Hampton was sold for $2,890,000, Cushman & Wakefield | Thalhimer announced last week. Pembroke Pines, at 1625 W. Pembroke Ave., was sold to Pembroke HR 757 LLC from 1625 Pembroke Property LLC as an investment. Clark Simpson of Cushman & Wakefield | Thalhimer’s Capital Markets Group han[...]
Southern Fairfax retail property sells for $14.2M
A private buyer has purchased a 7.1-acre retail property in southern Fairfax County for $14.2 million, Avison Young Capital Markets Group announced last week. The property at 6001 Kingstowne Village Parkway in the Alexandria area, off Telegraph Road, was sold by The Halle Cos. and is fully leased to an Aldi supermarket, a La-Z-B[...]
Va. Beach retail building sold for $2.2M
A Virginia Beach retail building has been sold for $2.2 million, and the buyer plans to develop a Freddy’s Frozen Custard & Steakburgers restaurant in the 6,000-square-foot building, Cushman & Wakefield | Thalhimer announced last week. Mosley Real Estate Advisors Inc. purchased the 796 Lynnhaven Parkway building from United Restaurant Group LP and also plans […]
F-22 fighter jet training unit will relocate to Joint Base Langley-Eustis
The U.S. Air Force is relocating the branch’s only advanced training unit for F-22 Raptor fighter jets from Florida to Joint Base Langley-Eustis in Hampton, bringing some 2,300 people to the region, the Air Force confirmed to the Air Force Times newspaper on Wednesday, June 23. “We are thrilled to welcome the F-22 Raptor[...]
Va. new jobless claims dropped below 7,000 last week
Virginia’s new unemployment claims fell last week, as did continued claims, the Virginia Employment Commission reported Thursday. For the filing week ending June 19, 6,905 people filed initial jobless claims, a decrease of 944 from the previous week. Continued unemployment claims totaled 42,878 last week, down 1,915 claims[...]
Virginia Business wins national journalism awards
Virginia Business won two national journalism awards Wednesday during The Alliance of Area Business Publishers’ (AABP) 2021 Editorial Excellence Awards ceremony. Virginia Business Publisher Bernie Niemeier placed gold in the Commentary category for his monthly OurView column. His winning columns included a July 2020 column, &#[...]
GO Virginia awards $11.1 million in economic recovery grants
The state’s GO Virginia economic development initiative announced Wednesday that it has allocated $11.1 million in grants to advance economic recovery efforts across Virginia, including a $1.45 million award to create a statewide system to support cybersecurity jobs training for Virginia’s defense contracting industry. “The targeted support that GO Virginia provides is critical to ensuring […][...]
Reston’s Trucker Tools acquired by Calif. tech firm
Reston-based Trucker Tools, a software company that provides a digital freight management platform for the transportation industry, has been acquired by Walnut Creek, California-based software company ASG. Financial details of the transaction were not disclosed. Founded in 2013, Trucker Tools offers a software suite with capacity management, predictive freight matching, automated booking, real-time GPS-based visibility […][...]
State unemployment rate slid to 4.5% in May
Virginia’s seasonally adjusted unemployment rate was at 4.5% in May, dropping 0.2 percentage points below April’s jobless rate. May’s statewide unemployment rate was 4 percentage points below May 2020’s rate of 8.5% in the first months of the pandemic shutdowns. Virginia continued to trend lower than the nation; the U.S. unemployment rate for May was […]
Va. General Assembly to convene special session on Aug. 2
The Virginia General Assembly will convene in Richmond on Aug. 2 for a special session to allocate more than $4.3 billion in federal relief funding, Gov. Ralph Northam announced Wednesday in a proclamation. In May, Northam and Democratic leaders from the Virginia State Senate and the House of Delegates outlined their priorities [...]
