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CoStar-WeWork dispute opens door for coworking competitors
One of the most disrupted sectors in Northern Virginia since the pandemic has been office space, as many white-collar workers work remote or hybrid schedules, leading to less demand. On top of that, in Arlington County’s Rosslyn corridor, WeWork clients have had to deal with the coworking company’s uncertain future. Although[...]
Mitre names new president and CEO
Mark Peters, an executive vice president at Battelle Memorial Institute in Charlottesville, has been named the next president and CEO of Mitre, succeeding Jason Providakes effective Sept. 3. Founded in 1958 with a focus on national security and operating from dual headquarters in McLean as well as Bedford, Massachusetts, Mitre i[...]
State delays choosing Shenandoah medical marijuana provider
At its June 26 meeting, the Virginia Cannabis Control Authority was expected to announce which company, among 40 applicants, had been selected from a highly competitive process to become the sole licensed pharmaceutical processor of medical cannabis for a region including the entire Shenandoah Valley, as well as the cities of Ch[...]
MicroStrategy buys $786M more bitcoin since late April
Tysons-based tech company MicroStrategy keeps growing its bitcoin holdings, most recently spending about $786 million to acquire almost 12,000 more of the cryptocurrency. From April 27 to June 19, the company, which is widely reported to be the world’s largest corporate bitcoin holder, acquired approximately 11,931 bitcoin[...]
Arlington County office building to get $40M makeover
JBG Smith has started construction on a $40 million renovation project for an 11-floor commercial building in Arlington County, the Bethesda, Maryland-based developer announced Tuesday. The company plans to make the 444,916-square-foot building, built in 1985, at 2011 Crystal Drive into an office building and “amenity hub.” [...]
Honeywell to purchase Arlington-based CAES for $1.9B
Honeywell, a multinational conglomerate based in Charlotte, North Carolina, announced Thursday it plans to buy Arlington-based aerospace and defense technology company CAES for $1.9 billion in cash from private equity firm Advent International. Formerly known as Cobham Advanced Electronic Solutions, CAES was founded in 1934 and was acquired by Advent in 2020. According to Honeywell’s […][...]
Fredericksburg econ dev director leaving after 10 years
Bill Freehling, Fredericksburg’s director of economic development and tourism, will leave his position Friday, he wrote in a farewell blog post on the economic development department’s website this week. A former Free Lance-Star reporter and editor, Freehling served eight years as the city’s economic developmen[...]
Tegna announces new president and CEO
Michael Steib will succeed Tegna President and CEO David Lougee, who is retiring Aug. 12, Tysons-based broadcasting giant Tegna announced Monday. The 48-year-old Steib will also succeed Lougee as a member of the company’s board of directors. Lougee, age 65, will become a senior adviser. Lougee has been president and CEO and a [...]
KPMG names D.C. area managing partner
Patrick Ryan has been named managing partner of Big Four accounting firm KPMG’s Washington, D.C.-area office, the company announced Thursday. In the role, Ryan will oversee more than 3,000 employees and also will be the firm’s U.S. federal business leader and sector leader. He succeeds Tim Gillis, who is retiring Sep[...]
Inova raises $83M to match Schars’ $75M gift
Inova Health System has raised $83 million over the past year, surpassing the “Schar Challenge” issued by donors Dwight and Martha Schar when they made a $75 million matching gift to Inova in May 2023. The Schars’ most recent gift to support Inova’s heart and vascular services and the gifts to match it made by […]
Bitcoin billionaire Saylor settles D.C. tax fraud suit for $40M
After close to two years of litigation, bitcoin billonaire Michael Saylor and MicroStrategy, the Tysons-based business software company he co-founded and remains executive chairman of, have agreed to pay $40 million to resolve a tax fraud lawsuit filed by the city of Washington, D.C., according to an announcement Monday morning [...]
Accenture names managing director for D.C. market
Accenture has named Ed Engles office managing director of its Metro D.C. office, overseeing a region stretching from Baltimore to Richmond, the global professional services company announced Thursday. Engles steps into the shoes of Marty Rodgers, who has been filling that role for almost a decade while also serving as Accenture&[...]
