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Jan. housing inventory, prices increase in NoVa, Hampton Roads
Housing sales last month increased year-over-year in Northern Virginia but dropped in Hampton Roads, although inventory and sales prices rose in both regions. Northern Virginia Home sales, prices and inventory in Northern Virginia rose year-over-year in January, according to Northern Virginia Association of Realtors data release[...]
Kaine, Warner want answers from FAA about possible Musk intervention
In the wake of the fatal Washington, D.C., collision between a U.S. Army helicopter and an airplane, U.S. Sens. Mark Warner and Tim Kaine, along with other Democratic lawmakers from Maryland and Virginia, want assurance that leaders at the Federal Aviation Administration will notify Congress if billionaire Elon Musk directs the [...]
Booz Allen fires subcontractor who wrote document about DOGE access to Treasury
McLean-based Fortune 500 management consulting contractor Booz Allen Hamilton has fired a subcontractor who warned the U.S. Treasury Department about the Department of Government Efficiency having access to the Treasury’s payment system. Booz Allen said that sources quoted in recent media reports “mischaracterize a document [...]
Playa Hotels & Resorts to be acquired in $2.6B deal with Hyatt
Resorts owner, operator and developer Playa Hotels & Resorts has entered into an agreement to be acquired by an indirect subsidiary of Hyatt Hotels for approximately $2.6 billion, including approximately $900 million in debt, the hospitality companies announced Monday. Playa Hotels & Resorts is a Dutch public limited lia[...]
Reed Smith appoints new Richmond office managing partner
Global law firm Reed Smith’s S. Brian Farmer is the new office managing partner in Richmond, the firm announced Thursday. Farmer succeeds Edward Mullen, who is part of the firm’s Richmond-based government relations team that spun off from Reed Smith to create Seven Hills Strategy Group, according to a January news releas[...]
NoVa could feel pain if Trump cuts federal office space
Northern Virginia is sure to weather aftershocks if the Trump administration moves forward with plans to shutter half of the properties owned and leased by the federal government. “We’ll see some strong reverberations,” said David Tarter, executive director for the Center for Real Estate Entrepreneurship and the master[...]
ASGN to acquire Chicago employment tech firm for $340M
Fortune 1000 IT and professional staffing services firm ASGN has signed a definitive agreement to acquire Chicago-based employment tech consultancy TopBloc for $340 million, the Henrico County-based company announced Tuesday. The transaction in cash and equity is expected to close in the first quarter of the year, subject to clo[...]
$1.6B Atlantic Union purchase of Sandy Spring Bank clears main hurdles
The parent companies of Atlantic Union Bank and Sandy Spring Bank have cleared the last major hurdles to the Richmond bank’s $1.6 billion all-stock purchase of Sandy Spring, headquartered in Maryland. The shareholders of Atlantic Union Bankshares and stockholders of Sandy Spring Bancorp approved the merger, first announced in [...]
Bassett returns to profitability in Q4, beats expectations
Bassett Furniture reported revenue of $84.3 million in the fourth quarter, an 11% decrease from last year, on Wednesday. However, a positive operating income of $900,000 means the company has returned to profitability after five consecutive quarters in the red. The Henry County home furniture manufacturer and retailer beat expec[...]
Henrico launches office buildings incentive program
During the pandemic, the office industry was “hit hard and quick,” says Jane DuFrane, senior vice president and Richmond market leader of Highwoods Properties, the Richmond area’s biggest landlord. But because office lease contracts last several years, “we didn’t feel the pain of COVID until those office leases started[...]
Done and Dome — Oceanfront venue to open in May
When Three Dog Night takes the stage May 4 at The Dome, the 1970s rock band will help open a new chapter in live performances at the Virginia Beach Oceanfront that it closed more than three decades ago. Known for hits such as “Joy to the World,” the band was the last group to play […]
Mary Baldwin plans $2.5M building renovation
Faculty, staff and students at Mary Baldwin University should see a major transformation in their oldest academic building thanks to a $1 million commitment from the E. Rhodes and Leona B. Carpenter Foundation as part of the $2.5 million renovation of Carpenter Academic Hall. “What we need to do is align the actual architectur[...]
