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Norfolk apartment complex sells for $38.5M
Enterprise Community Development, a nonprofit affordable housing provider, has purchased Woodmere Trace, a 300-unit Norfolk community, from Raleigh, North Carolina-based Fulton Peak Capital. Enterprise closed the $38.5 million sale on Dec. 20, 2023. Woodmere Trace is located at 6741 Tanners Creek Drive. The 300 garden-style apartments, comprised of one- and two-bedroom units, were built in […][...]
ManTech launches AI government contracting group
Herndon-based ManTech International has launched a data analytics and artificial intelligence solutions practice aimed at government clients. It will be led by Brandy Durham, a ManTech vice president and former executive with Amazon Web Services and Microsoft. The new division offers comprehensive AI consulting, AI engineering s[...]
Babel Street acquires Ohio data insights firm
Reston-based data analytics and threat intelligence tech company Babel Street has acquired Vertical Knowledge, a data products, insights and intelligence company based in Chagrin Falls, Ohio. The acquisition — which has already closed — expands Babel Street’s data sourcing, enrichment and analysis capabilities, accordi[...]
Electra aircraft backlog hits $8B
Manassas-based aviation startup Electra.aero has surpassed 2,000 orders for the electric short takeoff and landing (eSTOL) aircraft it’s developing, totaling an $8 billion backlog, the company announced Tuesday. Electra signed a letter of intent in December 2023 to deliver its blown-lift, fixed-wing eSTOL aircraft to Finni[...]
After long delay, Va. lawmakers appoint two SCC judges
The Virginia General Assembly unanimously elected two attorneys to fill two vacancies on the Virginia State Corporation Commission on Wednesday, after more than a year of understaffing and partisan battles. State senators and delegates voted 40-0 and 98-0, respectively, to approve the nominations of Kelsey Bagot, a former legal [...]
Fairfax, Petersburg could hold casino referendums
Two pending Virginia State Senate bills would change the list of locations eligible to host a casino, adding Petersburg and Fairfax County to the mix and removing Richmond. On Tuesday, the Senate Committee on General Laws and Technology’s gaming subcommittee met to discuss these and other measures regarding skill games, sp[...]
Three Va. biz schools make top 50 in Poets&Quants rankings
Three Virginia business schools placed in the top 50 of 91 schools in Poets&Quants’ 2024 rankings of undergraduate business schools, released Monday. Poets&Quants for Undergrads, an online publication and forum dedicated to business schools, ranks schools by three categories: admissions standards, academic experience a[...]
Cushman & Wakefield | Thalhimer promotes two SVPs
Two Cushman & Wakefield | Thalhimer commercial brokerage first vice presidents have been promoted, the Glen Allen-based real estate firm announced Friday. Wick Smith and Jenny Stoner are now senior vice presidents. Smith joined Thalhimer’s Virginia Beach office in July 2015 and specializes in retail sales and tenant repre[...]
Amentum lands $946M Army contract
Chantilly-based federal contractor Amentum Services won a $946 million contract for maintenance of a U.S. Army aircraft fleet, the company announced Monday. Under the hybrid firm-fixed price contract, Amentum will complete system maintenance and modernization for the Army’s fixed-wing transport aircraft fleet, providing life-c[...]
Breeden Construction finishes $9.3M Crozet condos
Breeden Construction has completed a $9.3 million mixed-use condominium project in Crozet, the Richmond-based general contractor announced Tuesday. In December 2021, Breeden Construction started work on the Old Trail Village by clearing the 1-acre property in Albemarle County. The four-story, approximately 55,000-square-foot bui[...]
Virginia Beach Holiday Inn sells for $16.25M
A 307-room Holiday Inn in Virginia Beach sold for $16.25 million in mid-December 2023, according to city property records. The six-story Holiday Inn Virginia Beach – Norfolk, located at 5655 Greenwich Road, was built in 1981, property records show. It opened in 1982, according to a news release from commercial real estate firm[...]
Fed’s Fifth District economy sees mild expansion
Economic activity in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) expanded mildly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Bo[...]
