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Capital Square launches subsidiary to oversee multifamily portfolio
Glen Allen-based real estate company Capital Square has launched a wholly-owned subsidiary to oversee management of the company’s multifamily portfolio, the company announced March 20. Capital Square Living will oversee off management of the company’s 55 residential communities, including 14,000 units across the Sout[...]
Graham to be chair emeritus of Graham Holdings
Donald E. Graham, majority owner of Arlington County-based Graham Holdings Co. and former publisher of The Washington Post, announced Thursday he would step down as chairman of Graham Holdings, although he plans to remain on the board as chair emeritus starting in May. Longtime board member Anne Mulcahy, former chair and CEO of [...]
GDIT lands EPA contracts valued at $380M
Falls Church-based General Dynamics Information Technology Inc. has received two contracts from the U.S. Environmental Protection Agency valued up to $380 million, the company announced Wednesday. GDIT will provide program support and infrastructure to the EPA’s Office of Superfund Remediation and Technology Innovation by applying technical, scientific, analytical chemistry and IT services under a contract […][...]
Va. hotel revenues in February up 14.9% from 2019
Hotel revenues in Virginia were 14.9% higher in February compared with pre-pandemic levels, largely because of increased room rates, 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 increased by 4.3% last month compared wi[...]
Martin Agency is Ad Age’s 2023 Agency of Year
Richmond advertising firm The Martin Agency has been named Ad Age’s 2023 Agency of the Year, a year after being named as a standout on the trade publication’s A-List. Ad Age, a global media outlet covering the marketing and advertising industries, cited Martin’s record; the ad agency posted its second-best year[...]
Chesterfield County kicks off $210M mixed-use project
Chesterfield County officials began demolition Tuesday of the former Best Products Co. Inc. building in the Spring Rock Green shopping center to clear the way for the $210 million first phase of the Springline at District 60 mixed-use development. The 42-acre first phase of the project, located on Midlothian Turnpike off Chippen[...]
Virginia ABC to hold Secretariat bourbon lottery
Bourbon fans should gallop to enter the Virginia Alcoholic Beverage Control Authority’s online lottery later this month for 187 autographed bottles of Secretariat Reserve Straight Bourbon, celebrating the 50th anniversary of the thoroughbred’s 1973 Triple Crown sweep. The bourbon comes from Charlottesville-based Ragged Branc[...]
Boeing to build 184 helicopters under $1.9B contract
Arlington-based Boeing Co. will build 184 AH-64E Apache attack helicopters for the U.S. Army and international customers under a $1.9 billion contract modification announced by the Pentagon Friday. The award brings the contract’s total funded value up to $2.1 billion and has the potential to surpass more than $3.8 billion [...]
Hampton Roads housing market appears to stabilize
The Hampton Roads housing market appears to be stabilizing, according to a new report from the Real Estate Information Network Inc. (REIN). “We expect 2023 to be similar to pre-pandemic years where inventory increases in the spring and summer, and as long as buyers have inventory to choose from, they’re going to shop for hom[...]
Four Richmond-area distribution centers sell for $105.6M
A joint venture between Glen Allen-based Lingerfelt and Swiss private investment firm Partners Group bought three Chesterfield County distribution centers and one Hanover County facility for $105.6 million, Lingerfelt announced Friday. The four multi-tenant facilities are 100% leased to 18 tenants and total 1.16 million square f[...]
Naval operations building in Suffolk sells for $33M
The U.S. Fleet Cyber Command Center of Operations, a 114,045-square-foot building in Suffolk, has changed ownership. The building, part of a secure naval operations campus, sold for $33.25 million, according to Colliers Government Solutions. It is located at 115 Lake View Parkway in Suffolk. The seller of the building is Salus G[...]
Two Roanoke apartment properties sell for $3.35M
A 26-unit multifamily community and a 16-unit apartment complex in Roanoke sold together for $3.35 million on Feb. 10. Located at 2002 Langdon Road SW, the 26-unit community, Langdon Square at Raleigh Court, has 22 garden-style apartments built in 1985 and four townhomes built in 1990. The structure is 59,407 square feet total, [...]
