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Hampton Roads organizations merge to form new roundtable
Two Hampton Roads regional economic development organizations are merging to establish the Hampton Roads Executive Roundtable, with the goal of unifying their efforts. The new organization will combine Hampton Roads Business Roundtable, established in 2012, and Reinvent Hampton Roads, established in 2016, with the primary missio[...]
HII announces more than $1.8B in contracts
Newport News-based Huntington Ingalls Industries Inc. on Tuesday announced more than $1.8 billion in contracts awarded to its mission technologies and shipbuilding divisions. The company’s McLean-based Mission Technologies was awarded a $1.3 billion U.S. African Command Personnel Recovery Enterprise Services and Solutions [...]
Former auto dealership property in Va. Beach sells
A former auto dealership property in Virginia Beach has a new owner. Best Buy Wheels purchased a 3,904-square-foot former auto dealership from BT Associates LLC for $1.5 million to operate as a second location for its auto dealership. The property, located at 1305 Oceana Blvd., was formerly Bay Shore Used Auto Sales. Clay Wi[...]
Frito-Lay building in Chesapeake sells for $5.4M
A 29,494-square-foot industrial building in Chesapeake has changed ownership, S.L. Nusbaum Realty Co. announced. B&D Acquisitions LLC purchased the building for $5.425 million from Rolling Frito-Lay Sales LP. The building is located on about 6.5 acres at 909 and 913 Professional Place in Chesapeake. Rolling Frito Lay will [...]
$35.8M Newport News affordable housing redevelopment begins
The BLVD Group has acquired and started renovations on the Aqua Vista Apartments in Newport News, the Los Angeles- and Dallas-based company announced Tuesday. BLVD expects development costs, including the property purchase and “soft costs” like engineering and design, to total more than $35.8 million. A BLVD-affiliat[...]
Hampton Roads consortium opens research HQ
The Hampton Roads Biomedical Research Consortium opened its headquarters at Old Dominion University’s Tri-Cities Center in Suffolk Friday. The consortium is a partnership between ODU, Norfolk State University, Eastern Virginia Medical School and Sentara Healthcare Inc., and was founded in June 2020. Its goal is to address [...]
Lighthouse Labs exec jumps to 757 Angels, 757 Collab
Paul Nolde, executive managing director of Lighthouse Labs in Richmond, will be the new managing director of Norfolk-based 757 Angels and 757 Collab. He replaces Monique Adams, the current executive director of 757 Angels and managing director of 757 Collab, who will leave the organizations this summer. Nolde starts his new role[...]
Colliers exec jumps to Harbor Group International
Scott Adams has left his role as executive managing director of Colliers International and joined Harbor Group International LLC as senior vice president in investor relations. Harbor Group announced Adams’ hire Tuesday. In his new role, which he started Monday, Adams will initially focus on capital raising efforts in the [...]
Chesapeake Walmart to reopen after deadly shootings
Walmart Inc. announced Monday that the Chesapeake store where a night manager killed six workers in November 2022 will reopen April 19, following a 9 a.m. ceremony. The store has been remodeled over the past five months, and it will include an outdoor memorial space, according to Walmart. On Nov. 22, 2022, 31-year-old Andre Bing[...]
Coffee biz buys Newport News building for $1.1M
A coffee company purchased a 2,400-square-foot retail building in Newport News for $1.1 million with plans to turn it into a coffee shop. Seven Cities Coffee LLC, doing business as 7 Brew, purchased the building located at 398 Denbigh Blvd. from JMP Properties LLC, Cushman & Wakefield | Thalhimer announced. The coffee compan[...]
Norfolk airport hotel is ‘desperately needed’
An influx of 200-seat airplanes is bringing record numbers of passengers into Norfolk International Airport, leading officials to fast-track infrastructure upgrades and pursue construction of an airport hotel. There is high demand for on-site lodging, especially among airline crews and travelers taking early morning flights, who[...]
April 2023 For The Record
CENTRAL VIRGINIA Henrico County-based Altria Group Inc. has entered into a definitive agreement to acquire e-vapor maker NJOY Holdings Inc. for approximately $2.75 billion in cash, with a potential additional $500 million in payments, Altria announced March 6. Part of the deal’s funding will come from an expected $1.7 billion payment plus interest from Philip […]
