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James City County farmland sells for $12M
A Houston-based industrial real estate company has purchased a 328-acre former farm in James City County for $12 million with plans to develop facilities for manufacturers, importers and warehousing and distribution companies. Cushman & Wakefield | Thalhimer and sales partners Berkshire Hathaway HomeServices RW Towne Realty [...]
NNS announces senior leadership changes
Newport News Shipbuilding is promoting three employees to its senior leadership team, as well as restructuring programs as the company plans for upcoming retirements. Rob Check will become vice president of in-service aircraft carrier programs; Thomasina Wright will assume the role of vice president of fleet support programs, an[...]
Something in the Water brings crowds back to beach
Pharrell Williams’ Something in the Water made a splashy comeback to Virginia Beach from April 28-30, although wind and rain delayed the music festival’s start, and lightning and a tornado watch canceled the entire last day. Organizers promised attendees a one-third refund for tickets, which sold for $125 to $600. Williams, [...]
Va. Beach economic development director to depart
Taylor V. Adams, Virginia Beach’s deputy city manager and director of economic development, confirmed Tuesday night he will be leaving Virginia Beach after eight years. He will become the next president and CEO of the Economic Development Authority of Western Nevada (EDAWN), he said Wednesday. His last day is June 30. Last[...]
Navy awards $1.1B more for sub construction
General Dynamics Corp.’s Groton, Connecticut-based Electric Boat Corp. has received nearly $1.1 billion more from the Navy to continue building Virginia-class submarines, and its teammate, Newport News Shipbuilding, has received a $305 million chunk of that award to procure long-lead time material and components for the [...]
Forvis names new Va. managing partner
Forvis has named Jennifer Wold as managing partner of its Virginia practice unit, the accounting firm announced Monday. Wold’s role becomes effective June 1. She succeeds Tom Hazelwood, who has served as managing partner for the past year. Wold will oversee offices in Richmond, where she will be based, and in Norfolk. She [...]
Two retail, office buildings in Chesapeake sell for $3.1M
Two buildings with retail and coworking spaces on South Military Highway in Chesapeake have sold for $3.1 million, Cushman & Wakefield | Thalhimer announced Monday. The 38,800-square-foot and 10,000-square-foot buildings sit on 4.7 acres at 2211 S. Military Highway. The property’s 31 tenants include Amazon.com Inc., FedEx [...]
Gray promoted from Navy Region Mid-Atlantic commander
After less than a year as the Norfolk-based commander of the Navy Region Mid-Atlantic, U.S. Navy Rear Adm. Christopher “Scotty” Gray is being promoted to lead the Navy Installations Command in Washington, D.C., pending U.S. Senate confirmation. Gray, who will be promoted to vice admiral after approval by the Senate, [...]
Va. casinos report $35.4M in April revenue
Gaming revenues from Virginia’s two casinos open in April totaled $35.4 million last month, according to data released Monday from the Virginia Lottery. Rivers Casino Portsmouth, which received its casino license in November 2022 and opened Jan. 23, reported $21.3 million in adjusted gross revenue (wagers minus winnings) in Ap[...]
Hampton Roads housing inventory rises, listings still low
Residential inventory in Hampton Roads has risen slightly from last year, although active listings remain below pre-pandemic levels, according to April data from the Real Estate Information Network Inc. (REIN). Active listings in April were down 0.97% year-over-year from the 3,187 listings that REIN recorded in April 2022. Pending sales stood at 2,363, down 21% […]
Two execs take on new roles at Harvey Lindsay
Harvey Lindsay Commercial Real Estate President Robert M. King will add chairman of the board to his responsibilities, and Robert M. Beasley Jr. is now executive vice president for brokerage services, the Norfolk real estate firm announced Monday. King is taking over the role from Harvey Lindsay Jr., who died on April 19. He has[...]
Air compressor maker plans $7.4M Norfolk expansion
Norfolk-based Bauer Compressors Inc., a subsidiary of Munich-based Bauer Kompressoren Group, will invest $7.4 million to expand its production capacity in Norfolk, creating an estimated 47 jobs, Gov. Glenn Youngkin announced Wednesday. The company will increase its capacity to produce hydrogen and natural gas compressors. “Bauer’s long-term success in the city of Norfolk reinforces the […][...]
