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Prism Maritime receives $250M Navy contract
Chesapeake-based Prism Maritime LLC has received a contract valued up to $250.8 million to install, modify and upgrade various combat systems for the Navy, Coast Guard and for foreign militaries, according to the Pentagon. The cost-plus-fixed-fee, cost-type contract, announced Friday, will continue through October 2027 if all options are exercised. Work will be performed on […]
VersAbility Resources lands $140M Air Force contract
Hampton-based VersAbility Resources Inc. has received a $140.7 million contract to support mail and postal service center support at Air Force installations across the U.S., the Pentagon announced Friday. The firm-fixed-price, indefinitely delivery contract was a sole source acquisition and work is expected to be complete by Jan. 17, 20s3. Founded in 1953, VersAbility Resources […]
Colliers to manage, lease City Center at Oyster Point
Colliers will be the leasing and management company for City Center at Oyster Point in Newport News, Florida-based real estate investment firm Murphy Property Group announced last week. Colliers will manage nearly 600,000 square feet across nine buildings. City Center, which is 52 acres, serves as sort of a central downtown area[...]
TowneBank completes Farmers Bank acquisition
Suffolk-based TowneBank has completed its acquisition of Windsor-headquartered Farmers Bankshares Inc., the parent company of Farmers Bank, TowneBank announced Tuesday. The $56 million deal created a combined company worth $17.5 billion in total assets, loans of $10.9 billion and $14.5 billion. It adds Isle of Wight and Southamp[...]
ODU hires associate VP for innovation, commercialization
Kevin Leslie will be Old Dominion University’s first associate vice president for innovation and commercialization, the Norfolk-based university announced Friday. Leslie will improve ODU’s technology transfer operation to better identify, develop and market faculty, staff and student intellectual property and startup[...]
Sentara Healthcare acquires Fla. insurance company
Norfolk-based Sentara Healthcare has acquired AvMed Inc., a not-for-profit health plan company based in Miami, from SantaFe HealthCare Inc., Sentara announced Thursday. Financial terms of the deal, which closed Dec. 31, 2022, were not disclosed. AvMed is a health insurance company with more than 200,000 members and 35,000 providers and nearly 500 employees. It offers […]
10 Va. companies graduate VEDP export program
Ten Virginia companies are the latest to graduate from the Virginia Economic Development Partnership’s Virginia Leaders in Export Trade (VALET) program, which helps companies work on international export growth strategies, Gov. Glenn Youngkin announced this week. The two-year VALET program helps Virginia companies that have established domestic operations use international exporting as a growth strategy. […][...]
Va. Beach office building sells for $15.5M
Charlottesville-based Seminole Trail Management LLC is the new owner of Pinehurst Centre, a 99,337-square-foot office building in Virginia Beach, Colliers announced Jan. 9. Virginia Beach-based real estate developer Robinson Development Group sold the four-story, Class A office building to Seminole Trail for $15.5 million. The o[...]
Franklin Johnston Group sees father-son succession
The Franklin Johnston Group, has promoted W. Taylor Franklin to CEO, succeeding his father, Wendell Franklin, who has become chairman, the Virginia Beach-based real estate development, investment and management firm announced last week. Taylor Franklin previously served as the firms’ chief operating officer and Wendell Fra[...]
Rivers Casino Portsmouth opening delayed
Rivers Casino Portsmouth‘s grand opening has been delayed until Jan. 23, eight days after its initially scheduled opening planned for Jan. 15, the casino announced Tuesday. The casino wanted to allow for additional time to test and verify new gaming equipment, a spokesperson for the casino said in an email. “Providing [...]
Exclusive: Colliers names new Va. exec. managing director
Colliers has named Jamie Thomas executive managing director and brokerage market leader for Virginia, effective Monday, the company told Virginia Business. Thomas, a Richmond native and Virginia Commonwealth University graduate, replaces J. Scott Adams, whose role shifted to prioritize client services and investment sales across[...]
REIN elects new board
The Real Estate Information Network Inc., the multiple listing service for the Hampton Roads region, has a new board of directors and executive committee. The new board includes: Jon McAchran, president Gary Lundholm, vice president Barry Nachman, secretary Dorcas Helfant-Browning, treasurer Tina Holt, director Cavelle Mollineaux, director Kimberly Plourde, director Brenda Reid, director Barbara Wolcott, […][...]
