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Eastern Virginia

Chesapeake Family Dollar. Photo courtesy Cushman & Wakefield | Thalhimer
Nov 16, 2020

Chesapeake Family Dollar property sells for $1.78M

A Family Dollar store property in Chesapeake sold for $1.78 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. Located at 3736 Ahoy Drive, the 8,320-square-foot retail property was net leased to Family Dollar. TRC Chesapeake sold the property, which it bought in July 2019, according to Chesa[...]

Nov 16, 2020

Commercial real estate lease roundup

Northern Virginia L3Harris Technologies Inc. renewed its lease of 6,357 square feet of office space at 17021 Combs Drive in King George County. Chris Russotti and Jamie A. Scully of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord. Floors by Design leased 9,900 square feet of industrial space at […]

Austin Newman. Photo courtesy S.L. Nusbaum
Nov 11, 2020

S.L. Nusbaum exec named president of SIOR Va. Chapter

Norfolk-based S.L. Nusbaum Realty Co. announced Wednesday that Austin Newman, vice president and director of office brokerage, has been named president of the Virginia chapter of the Society of Industrial and Office Realtors (SIOR). With more than 3,400 members in 686 cities and 38 countries, SIOR is a global professional office[...]

Nov 11, 2020

Active Hampton Roads home listings dropped nearly 40% in October

Compared to last year, active Hampton Roads home listings were down nearly 40% in October, Real Estate Information Network Inc. (REIN) reported Tuesday. Only 4,887 homes were on the market, compared to 8,089 last year marking the sixth consecutive month that inventory has fallen more than 32% year-over-year, according to REIN. “Extremely low inventory has […]

Nov 11, 2020

Newport News company lands $146M Navy contract

The Naval Air Systems Command awarded Newport News-based government contractor Aery Aviation LLC a five-year, $146 million contract to design, engineer and test aircraft, the company announced Wednesday. Under the U.S. Navy contract, Aery Aviation will acquire and modify 13 aircraft, including three models of Learjet and Gulfstream IV aircraft, through design, engineering, modification and […][...]

Kevin Hughes. Photo courtesy city of Suffolk
Nov 10, 2020

City of Suffolk announces leadership overhaul

Following the late September resignation of former Suffolk City Manager Patrick Roberts, interim City Manager Albert Moor on Monday made several appointments to the administrative staff, including an acting deputy city manager.  Suffolk City Council accepted Roberts’ resignation during a special meeting after a closed session[...]

Nov 10, 2020

ODU Strome College of Business to host corporate governance conference

Old Dominion University’s Strome College of Business will host its sixth annual Conference of the International Corporate Governance Society from Nov. 13 to Nov. 15, its Department of Management and Entrepreneurship announced Tuesday. The conference will include a forum for international academics, practitioners and doctoral students to showcase and discuss corporate governance research findings. Conference […][...]

The $42 million North Gate Complex added 26 new truck lanes to NIT.
Nov 9, 2020

Hampton Roads operator of Downtown and Midtown tunnels sold in $2B+ deal

Elizabeth River Crossings HoldCo LLC, the operator of the Downtown and Midtown tunnels that run between Norfolk and Portsmouth, has been sold to Abertis Infraestructuras S.A. and Manulife Investment Management Ltd., on behalf of John Hancock Life Insurance Co., for more than $2 billion. Elizabeth River Crossings operates four tu[...]

3950 Chain Bridge Road. Photo courtesy S.L. Nusbaum
Nov 7, 2020

Commercial building in Fairfax sells for $1.8M

A three-story mixed-use commercial building in Fairfax sold for $1.8 million, Norfolk-based S.L. Nusbaum Realty Co. announced this week.  Located at 3950 Chain Bridge Road, The Moore-McCandlish House is a 6,550-square-foot historical building constructed in 1840. The property, which sits on 0.48 acres, was 96% leased at the tim[...]

Nov 5, 2020

Newport News company lands $441.58M Navy contract

The U.S. Navy awarded Newport News-based Airborne Tactical Advantage Co. (ATAC) a potential five-year, $441.58 million contract to provide subsonic and supersonic aircraft for the branch’s fleet training operations, the U.S. Department of Defense announced Wednesday. Under the contract, ATAC will supply Type IV supersonic (which exceed the speed of sound) and Type III high […]

Nov 3, 2020

GO Virginia funds $9M in workforce development, economic recovery grants

The Growth and Opportunity for Virginia (GO Virginia) state economic development initiative has allocated grants totaling more than $9 million for workforce development and assisting communities with economic recovery, Virginia Gov. Ralph Northam announced Tuesday. A $7.8 million allocation will support 11 regional projects and two statewide projects aimed at workforce development initiatives. Another allocation […][...]

The aircraft carrier John F. Kennedy (CVN 79) sits at Pier 3 at Newport News Shipbuilding division. Photo by Matt Hildreth, courtesy HII.
Nov 3, 2020

HII lands $284.2M in contract modifications on USS JFK

The U.S. Navy awarded Newport News-based Huntington Ingalls Industries (HII) $284.2 million in contract modifications to deliver the Ford-class aircraft carrier USS John F. Kennedy (CVN 79) to the branch, the U.S. Department of Defense announced Monday. The delivery will be done in one phase. The Navy decided to change the two-p[...]

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