The contractor, which provides mechanical, electrical, plumbing and fire protection products and services, plans to open a second 170,000-square-foot building on 18 acres beside its existing building, which sits on 25 acres, in early November. The facility will be primarily used for warehouse and manufacturing space, with some office space.
“Since so much of our work is non-office-based, that’s how we set up our facilities. They’re a large manufacturing center, along with some office that supports it,” said ACI CEO Evan Shriver.
The company will create modular construction components in the new facility, expanding its production.
“We’re dedicating that space to building some structural steel components that we can then put the main piping systems, electrical systems, plumbing systems and fire protection systems together on, and then ship them all across the country to then build the buildings in sections like that,” Shriver said.
“But it’s mainly achieved by building it here in our factory in Richmond,” he added, “as opposed to having to find skilled tradesmen across the country and move those people around. It’s much easier to just build it in a controlled environment and then ship it out there.”
ACI currently has 1,200 employees and plans to hire up to 100 people to work in the second headquarters building, likely within the first two years of its opening, Shriver said. The company expects to have about 50 people working in the facility when it opens.
As of Aug. 30, the exterior of the new building was complete. Over September, the company is working on final landscaping and the paving of parking lots and roads. Interior drywall and paint finishes are ongoing.
ACI began planning the expansion in 2019, Shriver said, and physical construction started in early 2023.
“This is part of the strategic vision of the company … to maximize offsite construction through modular building, and that increases safety, quality and productivity and helps remove geographic barriers so we can then pursue projects all across the country,” he said.
While a construction site has factors outside of a contractor’s control, a controlled environment like a manufacturing facility reduces safety risks and has the advantage of automated machinery, Shriver added.
ACI works on large commercial buildings for health care, advanced manufacturing, data centers, higher education, chemicals manufacturers and other industries. In addition to its Chesterfield County facilities, the contractor has offices in Roanoke, Sterling and Suffolk, as well as in Wilmington, North Carolina. In 2022, the company expanded its presence in Roanoke and Hampton Roads.
McCahan worked at Washington, D.C.-based real estate investment firm Madison Marquette for 13 years, first joining as a senior vice president.
“We are pleased to welcome Daniel McCahan as president of Peterson Cos.” Jon Peterson, Peterson Cos.’ CEO and chairman of the executive committee, said in a statement. “Dan brings a wealth of experience and a proven track record of success in the both the commercial and residential real estate sectors, making him a valuable addition to our leadership team.”
As a senior vice president at Madison Marquette, McCahan managed the development of a 3 million-square-foot-plus portfolio and managed the company’s day-to-day activity as co-developer of The Wharf.
Before joining Madison Marquette, McCahan held executive roles at Archstone, where he contributed to the $700 million CityCenterDC project, and Urban Atlantic, where, as a project manager, he was responsible for Henson Ridge, a residential redevelopment of a former public housing site in Washington, D.C.
A Washington, D.C., resident, McCahan holds a bachelor’s degree in economics from the University of Virginia and a master’s degree in planning from the University of North Carolina at Chapel Hill.
Founded in 1965 by the late Milton V. Peterson, the privately held Peterson Cos. developed multiple major mixed-use projects in Northern Virginia and Maryland, including National Harbor in Maryland, home to the MGM National Harbor casino resort; the Gaylord National Resort & Convention Center; The Capital Wheel; Fairfax Corner; Fair Lakes; Burke Centre; and Tysons McLean Office Park.
KSB USA/North America, a Henrico County-based pump and industrial valve supplier, will invest $25 million to more than double the square footage of its facility there, a project expected to create 32 jobs, Gov. Glenn Youngkin announced Thursday.
As part of the expansion, KSB will add another loading dock office space and update its shipping and receiving area, as well as employee common areas.
“KSB’s expansion of its Henrico County facility is just the latest example of the resurgence of manufacturing in Virginia,” Youngkin said in a statement. “The Greater Richmond region offers the skilled workforce to support KSB’s continued growth, and we thank them for their investment in Virginia.”
A subsidiary of Germany-based KSB Group, KSB USA/North America has operated in Henrico since 1988. The company manufactures pumps, valves and mixers and provides spare parts and services, which include testing, automation and distribution services at the Henrico facility. Through a network of representatives and distributors, KSB serves varying industries, including energy, chemicals and petrochemicals, amusement parks, food and beverage processing and others.
“With initiatives like service efficiency consulting, regional sales and distribution, and expanded operations, today’s groundbreaking of our Henrico County facility will lead to positioning KSB as a market leader in several strategic target segments in the USA,” Luis Maturana, regional executive officer for KSB North America, said in a statement. “This state-of-the-art site, featuring an expanded warehouse, workshop and sustainable infrastructure, is an investment in our future as a market leader.”
The Virginia Economic Development Partnership worked with Henrico County to secure the project for Virginia. VEDP will support the company’s employee training through the Virginia Jobs Investment Program, a three-year incentive program that provides cash grant reimbursements for associated human resources costs after a company has had new employees on the payroll for at least 90 days.
Lt. Gov. Winsome Earle-Sears filed paperwork Wednesday with the Virginia Department of Elections to run for governor in 2025, in which she will seek the Republican nomination.
Although she has not yet announced her decision to run, Earle-Sears posted on X that she is holding a “special event” Thursday evening at Chick’s Oyster Bar in Virginia Beach at which she’ll presumably declare her candidacy. In August, she said in Albemarle County at a Republican event that she was “exploring” a gubernatorial run and that she would not be running a second time for lieutenant governor.
Earle-Sears is the first Republican candidate to enter the 2025 Virginia gubernatorial race, joining U.S. Rep. Abigail Spanberger, who declared her candidacy for the Democratic nomination last November. If either woman is elected, she will make history as the commonwealth’s first female governor. Born in Jamaica, Earle-Sears would also be the first immigrant to hold the top statewide office. She is currently Virginia’s first female lieutenant governor, as well as the first Black woman and immigrant to hold statewide office in Virginia.
The lieutenant governor, whose most public duty is serving as president of the Virginia State Senate when it is in session and casting tiebreaker votes, emerged from a crowded field of GOP candidates for lieutenant governor in 2021 — drawing notice and criticism for a group of ads that showed her holding a military-style rifle. She also has distinguished herself from other Republicans by criticizing former President Donald Trump, after previously campaigning for him. In a memoir she released in 2023, Earle-Sears wrote that she didn’t believe he should seek a second term.
A Marine Corps veteran, Earle-Sears served a single term in the House of Delegates two decades ago, representing part of Norfolk, and ran unsuccessfully against U.S. Rep. Bobby Scott for Congress in 2004. She moved to Winchester and opened a plumbing and electrical business, and was named to the state Board of Education by then-Gov. Bob McDonnell in 2011. Earle-Sears ran as a write-in candidate for U.S. Senate in 2018 after the GOP nominated Corey Stewart, whom she called “not a true Republican,” and cited his past alliances with white supremacists, including the organizer of the deadly “Unite the Right” rally in Charlottesville, Jason Kessler.
According to Earle-Sears’ statement of organization for her “Winsome for Governor” candidate committee, John Selph of Henrico County-based Forest Consulting Services, an attorney and former controller for the Republican Party of Virginia, is treasurer.
Attorney General Jason Miyares has also been frequently mentioned as a possible contender for the Republican nomination for governor; in July, he told the National Review, “I will be happy to comment about and discuss my political future at the appropriate time.” Gov. Glenn Youngkin is prohibited by state law to run for a second consecutive term as governor.
On Thursday morning, the Virginia Cannabis Control Authority selected AYR Virginia, a wholly owned subsidiary of AYR Wellness, a cannabis operator in eight states, as the winner of a conditional approval that puts it on the path to become the sole licensed pharmaceutical processor of medical cannabis for a region of Virginia that includes the entire Shenandoah Valley, as well as the cities of Charlottesville and Fredericksburg and the counties of Spotsylvania and Stafford.
If AYR Virginia goes on to successfully meet requirements necessary to obtain a pharmaceutical processor permit, the company will be free to engage in “vertically integrated operations,” which includes cultivating cannabis plants, producing marijuana products and selling to qualified medical marijuana patients.
Virginia has issued four pharmaceutical processor permits to serve other areas of the state. Ownership of the companies holding those permits are tied to three out-of-state companies.
A request asking AYR Wellness for comment was not immediately returned Thursday. According to a CCA news release, AYR Virginia plans to open a medical cannabis facility in Clear Brook, north of Winchester.
Thirty-three applicants tied in scoring determined by a CCA committee. The CCA then conducted a lottery with a random-number generating website to select the winner, which was AYR Virginia. The lottery is posted on YouTube.
Tanner Johnson, CEO of Pure Virginia, which applied for the conditional approval, issued this statement Thursday: “It has been clear for some time that there were problems with the CCA process and evaluation and we are even more concerned by what we heard today.”
Pure Virginia, which is connected to Pure Shenandoah, an Elkton-based, family-run CBD and hemp products business, invested more than $500,000 in preparations to win the conditional permit, according to Johnson.
The CCA received 41 complete applications from companies eager to be granted the sole permit to serve medical marijuana customers in the state’s health service area 1 (HSA 1). Each company paid an $18,000 fee to be considered.
The HSA 1 region has not had a licensed medical marijuana dispensary available since the state began issuing pharmaceutical processor licenses in 2018.
In response to a Freedom of Information Act request made by Virginia Business, the CCA named Brianna Bonat, Bette Brand, Wendy Hupp, Jeremy Preiss and Anthony D. Williams as members of the committee that scored the applications. Brand and Williams sit on the CCA board and Preiss is the authority’s acting head and chief officer, while Bonat is its health policy and data manager and Hupp is its finance director.
In April, Preiss said the state authority planned to announce which company had been selected by the end of June. However, at a June CCA board meeting, Shawn Casey, deputy chief of CCA’s regulatory, policy and external affairs office, said CCA staff and legal counsel needed more time to study the scoring of the applications and to ensure the authority’s choice complies with all regulatory requirements.
At a virtual meeting of the CCA board held Thursday, Preiss recommended that the winner of the lottery, AYR Virginia, receive the conditional approval. The board members approved this recommendation.
Eric Postow, a Fairfax County-based managing partner for Holon Law Partners, said he wasn’t surprised that several applications received high rankings, noting that Virginia has a number of professionals able to put together quality applications for companies who want to operate as a pharmaceutical processor of medical marijuana.
“Like five years ago, there was only a handful of folks that could do sophisticated application work and really think through all those issues,” he says. “Now [there are] just dozens of folks that can.”
AYR Virginia will have a year to meet all requirements necessary to obtain the permit, including completing required background checks.
The competition for the conditional permit reflects the lucrative nature of the license. Virginia patients paid an average $14 per gram for medical cannabis flower at dispensaries, compared with $10 in Florida and Pennsylvania, according to a November 2023 market study conducted for the CCA. While the authority doesn’t currently track sales revenues, the state’s dispensaries made 3.4 million medical cannabis dispensations in 2023, according to a spokesperson for the Virginia Department of Health Professions. The Virginia Board of Pharmacy oversaw the state’s medical marijuana program until January of this year, when the CCA took over that responsibility.
Medical marijuana patients in HSA 1 have had to travel to access the product since Virginia granted five regional permits to produce medical marijuana in 2018. Preiss has been vocal about wanting to fill that gap.
The processor initially given a conditional permit for HSA 1 in 2018 was PharmaCann Virginia, originally a subsidiary of Illinois-based PharmaCann. However, that permit was revoked in 2020 after the company failed to build a facility by the December 2019 deadline.
PharmaCann Virginia filed suit against the Virginia Board of Pharmacy in Henrico County Circuit Court in September 2020. In April 2023, Virginia’s Court of Appeals agreed with the circuit court, which rejected PharmaCann Virginia’s argument that the Board of Pharmacy treated it differently than the four other pharmaceutical processors in the state. In February, the CCA issued a notice of applications to solicit applications for a permit to operate a pharmaceutical processor.
“Establishing a medical cannabis operator in HSA 1 is overdue,” John Keohane, chairman of the CCA Board, said in a statement. “Patients in this area have waited far too long to have access to the medical cannabis products they need. AYR Virginia’s entry into the market will make a significant difference in their lives.”
AYR Wellness reported revenue of $463.6 million for fiscal 2023.
Mike Tabor, CEO of Integra Vertical, an Albemarle County company that applied to be considered as the HSA 1 provider, said he was disappointed his company wasn’t selected but added, “We are happy to see the process finally moving forward for the benefit of the patients.”
The 33 applicants that tied with the highest scores were:
With confetti flying and a DJ playing walk-up music for Richmond‘s mayor and other luminaries, the Richmond Flying Squirrels announced Wednesday that Fortune 500 company CarMax will be naming sponsor for the Squirrels’ new ballpark starting with the 2026 season. The replacement for the Richmond Diamond will be known as CarMax Park, officials with the Double-A Minor League Baseball team revealed.
Although Squirrels President and Managing Partner Lou DiBella said that the deal with CarMax had been signed several months ago, few other details were revealed about the transaction, including the amount CarMax agreed to pay and how long the sponsorship will last.
“We haven’t disclosed the financial conditions for the contract, but what I will tell you is, we’re super thrilled to be able to ensure that the Squirrels are going to be here for a very long time,” CarMax President and CEO Bill Nash said following Wednesday’s news conference held at the Bon Secours Training Center, the former training location for the Washington Commanders. Nash also declined to say how long the naming rights will continue, but added, “We’re involved with them for a very long time in the future.”
In August, the Richmond Economic Development Authority’s board approved a 30-year lease and stadium development agreement between the EDA and the Flying Squirrels, in which the Squirrels will pay $3.2 million in annual rent for the next 10 years, with the rates decreasing after that point.
The mood Wednesday was celebratory, with former Squirrels CEO and current senior adviser Todd “Parney” Parnell serving as emcee and a crowd of fans, officials and others receiving hand towels printed with “CarMax Park.” Richmond Mayor Levar Stoney, who shepherded the $2.4 billion Diamond District redevelopment project centered around the new baseball stadium, called the corporate sponsorship a “big freakin’ deal.”
The multiuse Diamond District project is planned to include 2,800 residential units, 935,000 square feet of office space and 195,000 square feet of retail and community space. A team known as Diamond District Partners is developing the project; it includes Richmond-based Thalhimer Realty Partners, Chicago-based Loop Capital, Pennrose, Capstone Development and multiple Virginia-based partners.
During the event, Parnell revealed new renderings of CarMax Park, which is expected to be finished by spring 2026; a ceremonial groundbreaking will take place Friday.
DiBella said that there will be several outdoor areas around the field in CarMax Park, with capacity for about 2,000 people standing, and 8,000 fixed seats. The venue also will host concerts and comedians when baseball games aren’t scheduled, and it will have indoor areas that can be used for community events, DiBella said, calling the park “a great social center for the community” that will have programming year-round, instead of just during baseball season.
But the park’s prospects weren’t always so sunny, as DiBella had sounded a warning bell in 2023 that he wasn’t sure that the new stadium — built to meet Major League Baseball’s requirements for all Minor League facilities — would be finished in time for the spring 2025 deadline, and could mean the departure of the team from Richmond.
Ultimately, the city received a one-year extension from MLB to finish the new stadium by 2026, which is expected to cost approximately $110 million and will be funded with $170 million in general obligation bonds issued by the city.
Speaking at the news conference, DiBella acknowledged the long wait for a new stadium, which dates back to 2010, the Squirrels’ debut season in Richmond, when city officials first promised to build a ballpark to replace the nearly 40-year-old Diamond that previously was home to the Richmond Braves Triple-A team.
Although CarMax’s involvement will not influence the funding structure for the stadium, its investment will be considered part of the team’s revenue stream, which is important, as the Squirrels’ rent has risen every year since the team has played in Richmond and is among the highest rents for any Minor League team, DiBella said.
Richmond Flying Squirrels senior adviser Todd “Parney” Parnell embraces team president and managing partner Lou DiBella as Richmond Mayor Levar Stoney looks on at a Sept. 4, 2024, news conference announcing the team’s new stadium naming sponsor, CarMax. Photo by Kate Andrews
On stage Wednesday, DiBella called the groundbreaking and pending start of construction “a miracle. … Fifteen years and something like $3 million in legal fees and multimillion dollars in consultancy fees, and I can’t tell you how many hours of work that got thrown away … during different [city] administrations. Frankly, an awful lot of meetings where you didn’t feel like there was honestly a commitment. I gotta say this, you gotta give credit to the people that got it done, and the people that got it done were this city council, this administration and the community leaders that are now our friends.”
In particular, DiBella cited Stoney and Richmond Chief Administrative Officer Lincoln Saunders for their roles in moving the stadium process forward, noting that “you guys got ‘MFed’ enough by me. Lincoln and I, it was so tense with us for so long,” DiBella said, “but I never doubted [Saunders’] commitment to this day. The biggest winners today are the citizens of Richmond.”
Stoney, a two-term mayor who is running for the Democratic nomination for Virginia lieutenant governor, noted that “15 years ago, the city made a promise to the Flying Squirrels, and fast-forward to 2024, we are keeping our promise, and with the 30-year lease, with the CarMax partnership, I am proud to say that the Squirrels are here to stay.”
The event was a bright spot for Stoney and Saunders, a friend of the mayor appointed as the city’s CAO in 2020, who have come under fire lately after reports in the Richmond Times-Dispatch revealed alleged misuse of procurement credit cards by some city officials, including former spokesperson Petula Burks, and a lack of transparency and timeliness in answering Freedom of Information Act requests for city documents.
There are still a few bumps in the road on the way to seeing the Diamond District become reality, including a $40 million lawsuit among current and former partners in the joint development team building the Diamond District, but DiBella said that he doesn’t expect the lawsuit to cause a delay in building the stadium, the construction of which the Squirrels team is overseeing. “It better not,” he said, laughing. “But no, I don’t believe it [will].”
Peter Woodfork, Major League Baseball’s senior vice president of minor league operations and development, said that beyond providing a new stadium with amenities for fans, the replacement of the Diamond is also an upgrade for players and others who work for the team. “This is an extremely important step for all of us … to have a facility that young men and women who work in baseball operations that allows them to do their job, anything from clubhouses to female facilities to batting cages,” he said.
Although Woodfork emphasized that “every expectation” is that the new ballpark will be open for 2026’s baseball season, “if something negative happened, we’d have to regroup on our side.”
BWX Technologies has tapped Gary D. Camper to be president of BWXTNuclear Operations Group, according to a Tuesday announcement.
Based in Lynchburg, Camper will lead more than 5,000 employees at five sites across four states, all of whom are manufacturing nuclear reactor components and fuel for U.S. Navy submarines and aircraft carriers.
Camper has worked for four decades at BWXT, according to a company spokesperson. Previously, he served as vice president of contracts and procurement and as chief operating officer of the Nuclear Operations Group.
“Gary’s unparalleled knowledge of our business and customers positions him well to lead us into the future,” Kevin McCoy, president of BWXT Government Operations, stated in a news release.
Ranking No. 999 on the 2024 Fortune 1000 list, BWXT has roughly 7,800 employees and 14 major operating sites across the United States, Canada and the United Kingdom.
Stu Shea, Peraton‘s chairman, president and CEO, has stepped down, and Steve Schorer has been named to succeed him at the Reston-based federal contractor owned by Veritas Capital. According to Tuesday’s announcement, Schorer will start Sept. 9.
“On behalf of Peraton and Veritas, I’d like to thank Stu for his many years of service and leadership at the company and wish him well in his future endeavors,” said Ramzi Musallam, CEO and managing partner of Veritas Capital, Peraton’s parent company. Schorer was previously CEO of Alion Science and Technology, which Huntington Ingalls Industries purchased for $1.65 billion from Veritas in 2021, and he was president of DynCorp International previously.
Schorer also worked in high-level positions at L-3 Communications and DRS Technologies. Shea has been Peraton’s only chief executive since it was formed by Veritas Capital in 2017. In 2021, Peraton purchased Chantilly-based IT contractor Perspecta Inc. and Northrop Grumman’s federal IT and mission support services businesses in 2021 for a total of $10.5 billion. In 2023, Peraton moved its headquarters, which serves as a hub for 5,000 of the company’s 19,000 employees, from Herndon to Reston.
“We are excited to welcome Steve as CEO of Peraton,” Musallam said in a statement. “His extensive industry expertise and experience leading some of the world’s premier government technology services organizations make him the ideal person to drive Peraton’s next important phase of growth. We look forward to working closely alongside him as Peraton continues to deliver on its mission to solve the U.S. government’s most complex technology and information challenges.”
At the start of his career, Shea created some of the earliest computer mapping systems for the CIA, the Air Force and the National Security Agency, and he is a founder of the U.S. Geospatial Intelligence Foundation.
Virginia credit unions will decide this fall whether to merge VACUL’s associations, foundations and service corporations with those of the LSCU, with results set to be announced in November, according to VACUL’s announcement Tuesday. If successful, the merger will create an organization representing 386 credit unions and 31.5 million members that would be led by LSCU President Samantha A.M. Beeler, and the combined service corporation would be led by Steve Willis, president of Leverage, which encompasses 12 companies and more than 30 partnerships in the credit union industry. Beeler and Willis were named in April as dual executive leaders of LSCU, which represents nearly 300 credit union members with almost $200 billion in assets and 12.4 million members.
VACUL, a state trade association, represents 98 credit unions in Virginia. The league offers training and operation resources for members and also lobbies the state legislature and other governmental bodies on behalf of the industry.
“With advocacy being at the core of our focus as an association and board, we believe this move to be in the best interest of credit unions as it will undoubtedly increase our advocacy impact and influence,” Jeff Bentley, VACUL board chair and president and CEO of Northwest Federal Credit Union, said in a statement. “We look forward to continuing our due diligence to identify a path forward that will be beneficial to all Virginia credit unions.”
According to Credit Union Times, this is the first proposed merger of state leagues since 2022.
In February, Carrie Hunt left VACUL as its president and CEO, and Chief Operating Officer Karima Freeman stepped in on an interim basis.
NextMark Credit Union President and CEO Joe Thomas, who chairs the VACUL Transition Committee, added, “While we seek member feedback during this discovery phase, we remain committed to advancing our collective industry and serving our members with greater impact. We believe the Virginia Credit Union League and the League of Southeastern Credit Unions share the same vision for success for credit unions.”
This announcement comes after the Virginia Bankers Association and the Maryland Bankers Association merged in July, creating the Mid-Atlantic Bankers Association holding company headquartered in Glen Allen.
LL Flooring has sold its eastern Henrico Countydistribution center to a limited liability company for $104.75 million, according to documents the Henrico-based flooring company filed with the Securities and Exchange Commission on Tuesday.
Formerly known as Lumber Liquidators, LL Flooring filed for bankruptcy in August and announced it was pursuing a sale of its business, according to SEC documents. Before entering Chapter 11 bankruptcy proceedings, however, the company worked with JLL to find a buyer for its 995,792-square-foot distribution center on 97.55 acres in Sandston.
SNA NE LLC, a Delaware limited liability company, is the buyer of that property, and according to federal bankruptcy court documents, is “the largest landowner in the White Oak Technology Park,” where the LL Flooring property is located. In a document filed with the U.S. Bankruptcy Court in Delaware on Aug. 30, Chad Williams signed an agreement as CEO of the purchaser, SNA NE LLC. Williams is chairman and CEO of Kansas-based QTS Data Centers, which has built a data center campus in Henrico County’s White Oak Technology Park and announced in 2022 plans to expand it by 1.5 million square feet. As of July, QTS has purchased all 622 acres of White Oak Technology Park II but did not share project details.
Under the LL Flooring contract’s terms, the buyer will lease back the building to LL Flooring for six months at no cost, and the flooring company can terminate the lease on 60 days’ notice. The deal must be approved by U.S. Bankruptcy Court Judge Brendan L. Shannon, and the parties are set to hold a hearing Wednesday. The transaction is expected to close Sept. 30.
According to Henrico County property records, an LLC connected with LL Flooring owns the 97.55-acre property at 6115 Technology Creek Drive, which is adjacent to two plots of land owned by QTS Data Centers.
In its August bankruptcy filing, LL Flooring said it planned to close 94 stores out of its more than 300 stores across the country. In 2019, LL Flooring was forced to pay $33 million to settle allegations of securities fraud, and sales fell in fiscal 2023 to $904.7 million, down from $1.11 billion in fiscal 2022. In June 2023, LL Flooring’s board rejected an unsolicited acquisition proposal from Cabinets to Go, a subsidiary of F9 Brands, which then began a proxy fight.
Representatives for LL Flooring and Henrico County declined to comment on the transaction, and QTS did not respond immediately to a request for comment.
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