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Dominion Business Center in Chesapeake sells for $5M
The two-building Dominion Business Center in Chesapeake sold for $5 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Aug. 16. Located at 1001, 1005 and 1009 Scenic Parkway, Dominion Business Center sits on about 21 acres within the 325-acre Dominion Commerce Park. The center is 90% leased to a gro[...]
Dragas Cos. plans 150-home development in Chesapeake
Virginia Beach-based Dragas Cos. will break ground on a single-family residential development project in Chesapeake in 2022. The project, named Crestfield, will lie on 65 acres off Elbow Road near Centerville Turnpike North. It will have 150 single-family homes of roughly 2,450 to 2,800 square feet each. The houses are expected [...]
Two Va. companies among group that won $950M Navy contract
Two Virginia federal contracting companies were part of a group of companies that won a maximum $950 million construction contract from Naval Facilities Engineering Systems Command (NAVFAC) Mid-Atlantic, Norfolk. Along with six other contractors, they can compete for task orders under the terms of the contract, the Department of Defense announced Friday. Virginia Beach-based S.B. […]
Developer plans 800K-square-foot industrial building in Suffolk
A Kansas-based industrial developer has purchased 72 acres in Suffolk for $4.1 million, with plans to construct an 813,721-square-foot logistics center by September 2022. Cushman & Wakefield | Thalhimer announced the sale Friday, in which Geoff Poston and Ellis Colthorpe handled negotiations on behalf of the seller, Equus Ca[...]
Jean Yokum, longtime president and CEO of Langley Federal Credit Union, dies at 90
Jean Yokum, the longtime president and CEO of Langley Federal Credit Union, died Thursday, the credit union announced. She was 90. She served as the president and CEO for 33 years, first joining the credit union as a teller in 1953 and working her way up. She served in the top spot from 1979 until 2012, […]
Huntington Ingalls Industries completes $1.65B Alion deal
Newport News-based Fortune 500 military shipbuilder Huntington Ingalls Industries has completed its $1.65 billion, all-cash acquisition of McLean-based defense contractor Alion Science and Technology Corp. from Veritas Capital, HII announced Thursday. The acquisition was first announced in July. Alion, with more than 3,200 emplo[...]
Virginia Beach office building sells for $2.5M
A commercial building at Virginia Beach’s Oceanfront sold for $2.5 million, S.L. Nusbaum Realty Co. announced Aug. 9. Located at 1705 Baltic Ave., the 4,038-square-foot former Davis Ad Agency building sits on nearly an acre. Safety & Security International Inc. purchased the property from Davis Seaside Properties LLC. [...]
Software firm to take over former Va. Beach Sears space
Decisions LLC, a provider of no-code, business process automation software, is moving its headquarters from Chesapeake to the former Sears building at Pembroke Mall in Virginia Beach, Cushman & Wakefield | Thalhimer announced this week. The company has leased 52,638-square-feet of office space at the shuttered department sto[...]
Hampton Roads reports continued seller’s market for homes
The Hampton Roads area was still seeing a tight market for homebuyers in July, according to the Real Estate Information Network Inc.’s latest report on the region. Compared to July 2020, there was a 17.13% decrease in active listings last month, along with higher prices. REIN, using the region’s Multiple Listing Serv[...]
Huntington Ingalls Industries wins $273M Navy contract
Newport News-based Huntington Ingalls Industries’ Technical Solutions division won a $273 million contract with the U.S. Navy to support its carrier engineering maintenance assist team, surface engineering maintenance assist team for West Coast surface ships and other maintenance programs, it announced Tuesday. “Continuous m[...]
W.M. Jordan Co. hires business development manager
W.M. Jordan Co. has hired Erica Viola as the firm’s business development manager, the Newport News-based construction firm announced on Aug. 3. Viola will focus on seeking new business and building relationships across the Hampton Roads region, according to a news release from W.M. Jordan. The Maryland native previously wo[...]
Proposals for Norfolk’s Military Circle Mall redevelopment narrowed to 3
Three groups have submitted full proposals to the city of Norfolk to redevelop Military Circle Mall. In late 2020, Norfolk put out a call for developers to turn the struggling mall into a thriving mixed-use community. The city narrowed the list to four, but on Friday, just three proposals were released by the city, including [&h[...]
