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Huntington Ingalls Industries names president of cyber warfare group
Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries (HII) named Grant Hagen president of its technical solutions division’s Cyber and Electronic Warfare business group, it announced Monday. “I’m confident in Grant’s vision to successfully lead our Cyber and EW team. With his exceptional expe[...]
Norfolk’s World Trade Center trades hands
The World Trade Center in Norfolk has sold for an undisclosed sum, Colliers announced Monday. On July 1, the property’s assessed value was nearly $51.27 million. Norfolk-based real estate investment and management firm Harbor Group International LLC, which acquired the property in 2008 for $54 million, has sold it to a private[...]
Commercial real estate leasing roundup
The following lease transactions took place in Virginia through Nov. 8: Central Virginia Virginia Insurance Services Inc. leased 1,900 square feet at 1 Park West Circle in Chesterfield County. Tucker Dowdy and Jamie Galanti of Commonwealth Commercial Realty represented the landlord. Kala Brand Music Co. leased 29,342 square feet at 11223 Leadbetter Road in Hanover […]
Va. Beach flex buildings sell for $7.3M
Two multitenant flex buildings in Virginia Beach sold for $7.3 million, Colliers announced Friday. Parkway 3 and 4, at 2679 International Parkway in Lynnhaven, were built in 1984 on a 4.39-acre site and have a total of 64,109 square feet of space. Pat Mugler, Ricky Anderson and Michael Ettel with Colliers Virginia represented th[...]
Recent commercial real estate transactions around Virginia
S.L. Nusbaum Realty announced that HM Management LLC has purchased a 35,355-square-foot former assisted living facility on 0.45 acres located at 501 N. Allen Ave. in Richmond from Care GSL Richmond PropCo LP for $3.5 million. Nathan Shor handled the transaction. Cushman & Wakefield | Thalhimer announced the sale of 3750 Progress Road in Norfolk. […]
Dominion offshore wind farm cost climbs to $9.8B
Dominion Energy Inc.’s offshore wind farm will cost about $2 billion more than expected, the Richmond-based Fortune 500 utility’s chair, president and CEO, Bob Blue, said during a third quarter earnings call Friday. Instead of the previously estimated $7.8 billion, the 2.6-gigawatt Coastal Virginia Offshore Wind (CVO[...]
Hampton Roads launches maritime workforce, economic initiatives
The Hampton Roads Maritime Collaborative for Growth and Innovation (HRMC) and Old Dominion University announced two maritime initiatives Thursday with the goal of strengthening economic development in the region. ODU President Brian Hemphill announced the establishment of the ODU Maritime Consortium, which will grow the universi[...]
Virginia Beach-based Groundworks acquires Philadelphia co.
Virginia Beach-based Groundworks, a foundation and water management solutions company, announced Wednesday its 21st acquisition since its founding five years ago. Financial terms were not disclosed. Groundworks has acquired Philadelphia-based BQ Basements and Concrete, which expands the company’s Northeast presence into greater Philadelphia, New Jersey and northern Delaware. It’s the third acquisition in Pennsylvania for [&h[...]
CMA CGM Group to acquire 90% stake in Los Angeles terminal
French shipping company CMA CGM Group, whose U.S. headquarters are in Norfolk, announced Wednesday that it has signed an agreement to acquire a 90% stake in the Fenix Marine Services (FMS) terminal in Los Angeles, based on an enterprise value of $2.3 billion. CMA CGM is funding the $1.8 billion acquisition from its own funds. [&[...]
Hampton nonprofit wins potential $126M Navy contract
Hampton-based nonprofit VersAbility Resources Inc. won a U.S. Navy contract potentially worth $126.14 million, the U.S. Department of Defense announced Friday. The $10.5 million indefinite delivery, indefinite quantity contract has a five-month base period with four one-year options and six-month extension option. VersAbility Resources will assist Naval Supply Systems Command with shipboard maintenance parts, providing […][...]
Recent real estate deals around Virginia
Cushman & Wakefield | Thalhimer represented the seller, LNR Property, in the $2 million sale of part of 260 Boush Street, a multiuse commercial and residential building in downtown Norfolk. Tidewater Community College is the purchaser of the 37,065-square-foot commercial space on the first floor, plus 99 parking spaces on the second floor of the […]
Breeze Airways takes off in Norfolk
Breeze Airways has been flying out of Norfolk International Airport less than six months, but the startup is steadily attracting passengers eager to satisfy their pent-up wanderlust. Founded by aviation entrepreneur David Neeleman, the Salt Lake City-based airline began offering nonstop, low-cost flights out of 16 cities last sp[...]
