Sign In
Free Newsletter
Breeden finishes projects in Albemarle, Chester, Petersburg
The Breeden Co. has completed construction on an 10-building apartment community in Albemarle County and has broken ground on a Virginia Beach apartment complex, and its subsidiary, Breeden Construction, has finished apartment communities in Chester and Petersburg. Completed in June, Berkmar Landing apartments in Albemarle has 2[...]
Warehouse portfolio in Chesapeake sells for $24M
The Port of Virginia Distribution Center, a two-building, 334,881-square-foot industrial portfolio in Chesapeake, has changed hands. Chesapeake Industrial Park LLC acquired the property at 2620-2626 Indian River Road for $24 million, according to Cushman & Wakefield | Thalhimer, which represented the seller. Phoenix Chesapea[...]
EY taps seven Va. biz leaders as mid-Atlantic entrepreneurs of year
Seven Virginia business leaders have been named winners of Ernst & Young LLP’s Mid-Atlantic Entrepreneur of the Year Award for 2023. The winners, named Friday by the Big Four multinational professional services company, include: Aptive Resources | Rachele Cooper, founder and CEO, Alexandria Cuisine Solutions Inc. | Felip[...]
Intelsat-SES merger talks called off
Merger talks between McLean-based satellite operator Intelsat and Luxembourg-based competitor SES S.A. have been called off, SES said in a post on its website Thursday. The merger was anticipated to have created a $10 billion global business. SES confirmed March 29 that the companies had “engaged in discussions” about combining, but said at the time, […]
SAIC receives $1.3B Treasury contract
Reston-based Fortune 500 contractor Science Applications International Corp. (SAIC) will provide the U.S. Department of the Treasury with a range of cloud and professional services under a seven-year, $1.3 billion contract, the company announced Thursday. Dubbed “T-Cloud,” SAIC will deliver a shared-service cloud infrastructure model providing enterprise-wise efficiencies in access, contracting and security, SAIC said in [&[...]
RTX’s Raytheon lands $1.15B missiles contract
Arlington County-based Raytheon, a business unit of newly rebranded aerospace and defense contractor RTX, will produce Advanced Medium Range Air-to-Air Missiles for the U.S. Air Force and Navy as well as foreign militaries under a $1.15 billion contract announced by the Pentagon Tuesday. The contract includes missiles, the AMRAA[...]
2023 Va. hotel revenues up 12.9% over pre-pandemic
Hotel revenues in the commonwealth this year were 12.9% higher from January through May, compared with pre-pandemic business during the same period in 2019, according to data released Tuesday by STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold were about the s[...]
Zim announces $30M expansion
Zim American Integrated Shipping Services Co. LLC will invest $30 million to expand its U.S. headquarters in Virginia Beach, creating several hundred jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. The expansion includes a move from Norfolk, where the company has had its U.S. headquarters since 2001. Zim is[...]
HeadWaters developers scrap temporary casino plans
The developers of the $500 million HeadWaters Resort & Casino in Norfolk have scrapped plans to open a 45,000-square-foot temporary casino, instead focusing all their efforts on building the permanent casino, which will open before construction begins on an associated hotel and other planned amenities. “We have changed ou[...]
Raytheon rebrands to RTX as part of business reorg
A year after moving its headquarters to Arlington County, Fortune 500 aerospace and defense contractor Raytheon Technologies Corp. has rebranded as RTX. The new name, launched to coincide with the Paris Air Show and the company’s 2023 investor meeting, comes as RTX consolidates its business units from four to three: aerosp[...]
GDIT receives $383M Navy contract
Falls Church-based General Dynamics Information Technology Inc. will help train more than 100,000 U.S. Navy and allied sailors on surface combat systems under a $383 million contract announced June 15. The contract, awarded by the Naval Surface Warfare Center Dahlgren on behalf of the service’s Surface Combat Systems Training Command, has a one-year base and […]
Buc-ee’s to open in New Kent by 2025
It’s official. Buc-ee’s, the Texas-size travel center chain, completed its purchase of property in New Kent County and will open its first Virginia location in the next two years, with three more slated across the state, S.L. Nusbaum Realty Co. said in a news release. A groundbreaking date for the New Kent site has n[...]
