College Parkway Crossing Shopping has selected Cushman & Wakefield | Thalhimer for the exclusive commercial property management assignment at the 93,728-square-foot retail center in northern Suffolk. Located at College Drive and 6500-6550 Hampton Roads Parkway, tenants at the center include Food Lion, CrossFit, Subway, Farmers and Nationwide insurance agents and Goodwill.
Dean Martin of Cushman & Wakefield’s Virginia Beach office will be the exclusive leasing representative while Mary Yelinek, also with Thalhimer, will serve as the property manager.
In other leasing assignments for Thalhimers in Hampton Roads:
The Virginia Beach office has been assigned the leasing and commercial management of Central Center in Norfolk. The 53,338-square-foot office building is located at 7447 Central Business Park Drive.
CYS Ventures LLC also has selected the company as the property management firm for Edinburgh Commons, a 13,329-square-foot retail center located at 200 Carmichael Way in Chesapeake.
Carilion Clinic’s Institute for Orthopaedics and Neurosciences is open, following the $32 million renovation of a former grocery store.
Doctors began seeing patients last week. The building on Franklin Road, originally a 55,000-square-foot Ukrop’s grocery store, was completely renovated over the last two years. The facility how has 116,000 square feet with 125 patient exam rooms, nine procedure rooms and capacity for eight diagnostic imaging rooms, seven of which are operational now.
Carilion created the Institute for Orthopaedics and Neurosciences to unite two complementary disciplines to benefit education, research and patient care.
“It’s been thrilling to see the Institute for Orthopaedics and Neurosciences take shape over the past two years,” Nancy Howell Agee, Carilion Clinic President and CEO, said in a statement. “As our nation’s population ages, the need for orthopaedic and neurologic care is ever increasing. These services complement each other, and co-locating them in a single facility provides opportunities for collaboration among caregivers and convenience for our patients.”
The Institute for Orthopaedics and Neurosciences is the first institute Carilion Clinic has launched. The not-for-profit healthcare organization serves nearly 1 million people in Virginia through hospitals, outpatient specialty centers and advanced primary care practices.
Texas Roadhouse Holdings LLC has purchased 1.2 acres of land situated along South Peek Boulevard in Roanoke from McNeil Properties LLC for $1.1 million and plans to develop a new Texas Roadhouse restaurant at the location.
John K. Nielsen of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the buyer.
Dominion Resources Inc. and Questar Corp. announced an agreement Monday for the companies to combine in an all-cash transaction in which Dominion has agreed to pay Questar shareholders $25 per share – about $4.4 billion – and assume Questar's outstanding debt.
Dominion, based in Richmond, said acquisition of the Salt Lake City-based natural gas company is expected to close by year-end.
Dominion said the deal would give its natural gas operations enhanced geographic diversity. Dominion's existing operations lie in the mid-Atlantic, whereas Questar's system is the “hub of the Rockies” and a principal source of gas supply to Western states, Dominion said.
Questar is a natural gas distribution, pipeline, storage and cost-of-service gas supply company. It serves nearly 1 million homes and businesses in Utah, Wyoming and Idaho, with about 97 percent of those customer accounts in Utah. The company employs about 1,700 people and has about $4.2 billion in assets, including about 27,500 miles of gas distribution pipeline, 3,400 miles of gas transmission pipeline and 56 billion cubic feet of working gas storage.
Dominion said it intends to finance the transaction in a manner that supports the company's existing credit ratings targets, using equity, mandatory convertibles and debt at Dominion, and equity at Dominion Midstream Partners.
Commenting on the deal, Thomas F. Farrell II, chairman, president and chief executive officer of Dominion, said in a statement, “This addition is well-aligned with Dominion's existing strategic focus on core regulated energy infrastructure operations. Questar boasts best-in-sector customer growth in states with strong pro-business credentials and constructive regulatory environments. These high-performing regulated assets will improve Dominion's balance between electric and gas operations and provide enhanced scale and diversification into Questar's regulatory jurisdictions.”
Farrell added that Dominion Midstream investors will benefit from the addition of Questar, as the transactions is expected to contribute more than $425 million of EBITDA (earnings before interest taxes depreciation and amortization) to Dominion's inventory of top-quality, low-risk MLP(master limited partnership)-eligible assets, supporting Dominion Midstream's targeted annual cash distribution growth rate of 22 percent.
“Questar is the ideal mix for Dominion shareholders and Dominion Midstream unit holders alike,” Farrell said.
Dominion expects the value of the Questar pipeline system to rise over time as Utah and other Western states seek to comply with the requirements of the U.S. Environmental Protection Agency's Clean Power Plan and meet state-mandated renewable standards, with increasing reliance on low-carbon, gas-fired electric generation.
The combined company would serve about 2.5 million electric utility customers and 2.3 million gas utility customers in seven states. It also would operate more than 15,500 miles of natural gas transmission, gathering and storage pipelines, one of the nation's largest natural gas storage systems, and approximately 24,300 megawatts of generation.
Separate from this transaction, Dominion has committed about $1 billion for three solar generating facilities located in Beaver, Iron and Millard counties, Utah. These solar facilities are backed by long-term power purchase agreements with local electric utilities.
Upon the transaction closing, Questar shareholders will receive $25 in cash for each share of Questar common stock. This represents an approximate 30 percent premium to the volume-weighted average stock price of Questar's last 20 trading days ended Jan. 29, 2016.
Pending approvals, Questar will operate as a first-tier, wholly owned subsidiary of Dominion and maintain its significant presence, local management structure and headquarters in Salt Lake City. Dominion also has also agreed to increase community involvement and charitable investment in the communities currently served by Questar.
The transaction requires approval of Questar's shareholders and clearance from the Federal Trade Commission. Questar and Dominion also will file for review and approval, if required, from the Utah Public Service Commission and the Wyoming Public Service Commission, and provide information regarding the transaction to the Idaho Public Utilities Commission.
RBC Capital Markets LLC and Mizuho Bank Ltd.,have provided committed financing and are acting in the role of financial advisers to Dominion. Goldman, Sachs & Co. served as the exclusive financial adviser to Questar.
McGuireWoods LLP served as legal counsel to Dominion and Kirkland & Ellis LLP served as legal counsel to Questar.
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 24,300 megawatts of generation, 12,200 miles of natural gas transmission, gathering and storage pipeline, and 6,500 miles of electric transmission lines. It also operates one of the nation's largest natural gas storage systems with 933 billion cubic feet of storage capacity and serves utility and retail energy customers in 14 states.
Every year around this time, it seems like we see a multitude of articles that cover marketing and branching challenges in today’s world. For example, in a recent Forbes article, Daniel Newman discusses how marketers need to appeal to the changing needs of an increasingly diverse, fragmented, and impatient population by utilizing big data, mobile and video technology.
A quick Google search reveals many articles and blogs with the same message. It may be a new year, but it seems like the same message as last year (and the year before that). Consumers are more diverse in today’s world, and therefore, your marketing strategy needs to meet this complexity. Marketing strategy must be innovative and technical — otherwise it will fail in today’s marketplace.
While there are certainly some great ideas in these articles, I question the overall message. The methods we use to market products is certainly different from 20 years ago, but I am not sure that the overall strategy has really changed that much. In many ways, successful marketing in 2016 seems more deeply rooted in simplicity and the basics than ever before.
1. Importance of the human touch — Concep.com called ultra-personalization an emerging trend back in 2013, and the concept has continued to expand since then. Websites spend more time asking for information about consumers, in order to make better product recommendations. Financial services firms are starting to offer chat functions, in order to provide higher quality customer service. The use of video has started to increase as well. While these strategies appear shiny and new, it seems they are simply a movement back to something more fundamental – the importance of human relationships. Marketing has always been about interacting with people in a meaningful way. The use of ultra-personalization is simply a further movement toward human connection. The bells and whistles may be new, but the concept is not. Establishing a connection with someone is key to selling them a better product or service.
2. Credibility of the not credible — Credible businesses are dabbling more and more in social media due to its increased popularity. According to Jeff Bullas, 72 percent of all Internet users are active on social media. As a result, 78 percent of US companies now have dedicated social media teams.
This increase would seem to indicate that consumers are deriving more value from social media than ever before. The willingness of companies to play in this space also is taking these previously unreliable sources of information, like Twitter and Facebook, and making them credible. While the popularity of social media seems baffling on the surface, it may point to something that marketers have always known. Specifically, people like to hear the unfiltered opinions of others, even if they have to make judgments as to the merits of these opinions themselves. People don’t want to hear a sales pitch, they want to hear people’s viewpoints and stories about the product or service they are contemplating purchasing. Is this really news?
3. Looks matter — Many marketers have touted the importance of good website content within a company’s overall marketing mix. In a recent survey by NewsCred, 53 percent of marketers ranked content creation as the single most effective SEO tactic. There can be no doubt that solid content helps a website acquire and maintain visitors. However, nearly half of people say website design is their number one criterion for determining a company’s credibility. This would seem to represent a disconnect between marketers and consumers. Consumers want good content, but they want a slick looking website as well. The storefront is still important to the consumer, whether they’re patronizing a brick-and-mortar building or a website.
This is not to say that marketing has not changed at all, or that we should not pay attention to new marketing tools. Rather, it is simply meant as a word of caution to businesses that they should not overlook the forest for the trees, or become overwhelmed by hyped discussions about vast consumer taste changes. New marketing tools will come and go, but good marketing strategy may not be vastly different from what it has been previously. Connecting with people, realizing that they value honesty, and providing a good-looking storefront are still keys to success in 2016 and the years ahead.
David Peters, CPA, is the strategic relationship manager and financial adviser for Carroll Financial Inc., in Charlotte, N.C. He is a member of the Virginia Society of Certified Public Accountants (VSCPA). Contact him at [email protected]. Website: www.carrollfinancial.com.
The information discussed herein is general in nature and provided for informational purposes only. There is no guarantee as to its accuracy or completeness. Nothing in this white paper constitutes an offer to sell or a solicitation of any offer to buy any type of securities.
Registered Representative of and securities offered through Cetera Advisors Network, LLC, Member SIPC/FINRA. Advisory services offered through Carroll Financial Associates, Inc., a Registered Investment Advisor. Carroll Financial and Cetera Advisors Network, LLC are not affiliated.
New Jersey-based technology company AvePoint Inc. plans to establish an operation in downtown Richmond, at an office in Riverfront Plaza, $1.5 million project expected to create 100 jobs.
The company also plans to expand its existing operations Arlington County, creating 55 jobs.
AvePoint provides big-data management, governance and compliance software solutions for social collaboration platforms.
Its products and services centralize access and control of information found in disparate management systems on-sites and in the cloud.
Founded in 2001 and based in Jersey City, N.J., AvePoint serves more than 14,000 organizations and 3 million Office 365 users in five continents in all industry sectors.
Many of its customers are involved in the energy, financial services, health-care and pharmaceuticals industries.
The Virginia Economic Development Partnership worked with Richmond, Greater Richmond Partnership and Arlington County officials to secure the project.
The company is eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.
Funding and services to support the company’s employee training activities also will be provided through the Virginia Jobs Investment Program.
New York-based Arkay Packaging Corp., a major folding carton manufacturer, plans to spend $11 million to upgrade equipment and expand its Botetourt County operations, a projected that is expected to create 50 jobs.
Founded in 1922 Arkay provides packaging for cosmetic and pharmaceutical companies. The company has a 140,000-square-foot plant in Botetourt, which it opened in 1996.
The company also has a location in Hauppage, N.Y.
The Virginia Economic Development Partnership worked with Botetourt County to secure the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
Wegmans Food Markets announced the grand opening dates Thursday for its two locations in greater Richmond. These are the first Wegmans to open in the region and the first during the company’s 100th anniversary in 2016.
Wegmans Midlothian, a 115,000-square-foot store, will open at Stonehenge Village Shopping Center on Sunday, May 22. The company’s Short Pump store, a 120,000-square-foot supermarket, is set to open at West Broad Marketplace on Sunday, Aug. 7.
Wegmans said hiring and training is ongoing for both stores. The company is now accepting applications for a variety of part-time customer service and culinary positions across every department. Full-time openings remain for chefs, line cooks, and restaurant service jobs.
Applicants can apply online at www.wegmans.com/careers, or call 1-877-WEGMANS (934-6267) for more information.
“Now is the time to apply. Although our stores won’t open for several months, we bring new employees on board quickly in order to provide best-in-class training,” Wegmans Human Resources Manager Heather Gole said in a statement. “We’re known for putting employees first, offering competitive pay and benefits, and flexible scheduling. Many of our company leaders today cite Wegmans as their first job and went to college with tuition assistance from our employee scholarship program.”
The Wegmans Employee Scholarship Program is a point of pride for the company. Since the program began in 1984, more than 32,000 employees have been awarded scholarships totaling $100 million.
Wegmans Midlothian and Wegmans Short Pump will each employ about 550 people, 500 of whom will be new to the company and hired locally. Both locations will also offer The Pub by Wegmans, a full-service family restaurant within the store, known for fresh, seasonal food and local craft beer.
In an era not so long ago, the only time many companies thought about their employees’ health was when they took a sick day.
Today, with a heightened awareness about the importance of monitoring personal health and health-care costs, wellness has become a watchword for the companies on Virginia Business’ annual list of Best Places to Work in Virginia.
Everything from yoga to massages is on the menu as companies encourage their workers to stretch and bend on the yoga mat, or de-stress on the massage table.
But those are only a few of the ways wellness is being promoted to an increasingly health-conscious workforce.
This is the sixth year that Virginia Business has compiled the Best Places list in cooperation with the Best Companies Group, a Pennsylvania-based firm. Since then, 10 companies have been on the list all six years. Nine have made the list for five years, and 17 have been Best Places for four years. (see chart)
In late 2015, about 150 companies registered to become one of Virginia’s Best Places to Work in 2016. One hundred were selected in three categories: small (15-99 U.S. employees); midsize (100-249) and large (250 or more).
Best Companies Group benchmarked the companies on a list of core values: leadership and planning; corporate culture and communications; role satisfaction; work environment; relationships with supervisors; training and benefits; and pay and overall employee engagement.
Forbes recently reported the results of a 2014 Monster.com survey of 6,800 people, which found that 42 percent of workers left a job because of stressful environments and another 35 percent considered changing jobs because of stress.
About 40 percent of respondents cited exercise as a strategy for reducing stress, and an increasing number of companies have incorporated exercise into their smorgasbord of benefits.
Getting exercise
At mHelpDesk, a technology company in Fairfax, exercise is by the clock. At 10 a.m., noon, 2 p.m. and 4 p.m., one of the company’s employees leads an intense, 5-minute workout, welcoming other employees to join.
Vincent Wong, the company’s co-founder and CEO, says the exercise leaders are employees with other duties, but they have been personal trainers, or have had similar roles in past jobs.
At another technology company, HumanGeo in Arlington, a free fitness center in the building offers weight training, treadmills, elliptical machines, showers and lockers for employees.
The Fahrenheit Group, a consulting firm in Richmond, gives its employees ergonomic work stations and alternative furniture such as standing desks and stability balls for seating. In addition, Fahrenheit workers have access to a nearby gym.
Keith Middleton, a co-managing partner at Fahrenheit, says the wellness program is in line with the company’s philosophy of maintaining a proper work/life balance.
“We’ve been able to attract talented people that we might not have been able to otherwise,” Middleton says of the benefits of a coordinated wellness program.
“You’re competing not only on price, but benefits and lifestyle,” Middleton adds.
Another Richmond consulting firm, The Frontier Project, also offers a multi-faceted wellness program ranging from access to exercise equipment to a variety of ergonomic seating choices, such as balance balls in lieu of chairs to encourage employees to get up more and move during the day.
Yoga mats and other equipment also are available for employees to either exercise or practice mindfulness during the day.
Mindfulness is generally defined as a mental state achieved by focusing your awareness on the present moment, while calmly acknowledging and accepting your feelings and thoughts. It is frequently used as a therapeutic technique.
On the physical side, The Frontier Project has bike racks on-site to accommodate those who cycle to work and to encourage others who might want to.
At the Belvoir Federal Credit Union in Woodbridge, a yoga instructor comes in biweekly for classes after hours, and a Wellness Committee organizes biking, hiking and kayak outings.
Weight loss
The Virginia Credit Union’s headquarters in Richmond has a wellness program that includes a health fair and friendly challenges promoting weight loss, water consumption and walking, among other activities.
In the weight loss challenge, employees pay $15, which is matched by the credit union to create a winning pot for the top competitors.
“Our last challenge saw participants lose 768 pounds, or about 3 percent of the group’s total weight,” says Glenn Birch, director of public and media relations for the credit union.
During a recent four-week water challenge, in which participants are urged to drink water instead of sugary drinks, 318 participants drank a collective 4,853 gallons of water.
Birch says the credit union offers a menu of other wellness-related activities, such as gym membership reimbursement, eight hours of annual leave for getting an annual physical and quarterly “lunch and learn” programs on wellness.
At SimVentions, a Fredericksburg company that focuses on the defense industry, employees can enjoy basketball and weight training at the area YMCA twice a week. Company flag football and coed softball teams in local leagues also are part of the mix, as well as after-work music and jam sessions.
Dynamis Inc., a health-care company in Fairfax, provides free personal training sessions with the CEO’s trainer and has yoga mats, weights, bouncing balls, skipping ropes, in addition to a well-equipped gym in the building, with high-tech exercise machines and towel service, showers, a locker room and 24/7 card access.
At the Consumer Electronics Association (CEA), based in Arlington, the company’s free wellness program consists of boot camp, strength training and yoga classes four days a week, both during and after the work day.
Boot camp regimes typically involve both cardiovascular and strength training. “Classes are designed to bring employees together to work out, relieve stress and get to know one another,” says Krista Silano, a company spokeswoman.
All classes are led by certified training professionals and are free to staff.
SRC, a national technology company with an office in Chantilly, says most of its offices offer robust fitness centers at no charge.
For those not in a location with fitness facilities, the company pays for fitness club memberships. SRC also provides on-site bike storage and locker rooms to encourage employees to exercise on a schedule that works best for them.
Fitbit reimbursement Carfax, a vehicle data company based in Centreville, wants the wheels to keep turning on its employees’ fitness. It offers an incentive to help them accomplish that: a Fitbit reimbursement program.
Fitbit is a digital tracker that, depending on its configuration, can help people keep tabs on their activities, exercise, food, weight and sleep.
At its Virginia office, Carfax encourages the practice of “power minutes,” during which employees get up from their desks each hour for at least one minute to get their heart rates up.
At FinFit, a financial education company in Virginia Beach, employees are given an opportunity to push their activity to a new level with a boot camp wellness program offered through Jim White Fitness. The fitness and nutrition studio offers a wide variety of programs that can lead to weight loss or more general fitness.
Accounting Principals, a staffing company with an office in Glen Allen, pays for a triple whammy of wellness programs for employees: gym, weight loss and smoking relief.
Inserso Corp., a technology company in Vienna, provides workers with organized group sessions led by a personal trainer.
Impact Makers, a Richmond consulting company, likes to highlight its lunchtime yoga classes for employees.
The Navy Federal Credit Union provides employees who work in its branch offices up to $300 a year to use toward health- and fitness-related activities. The money can be used for gym memberships or to purchase fitness equipment.
NES Associates LLC, a technology company in Alexandria, offers headquarters employees weekly Zumba and fitness classes, as well as weekly delivery of fruit.
Hitting the trail
For some companies, wellness can mean a brisk walk or run.
At the office of American Global Logistics, a transportation company in Martinsville, employees have access to the Dick and Willie Passage Rail Trail, a 4.5-mile asphalt path that winds through the city. Employees are encouraged to walk, run, bike or even roller-blade their way to fitness.
At Damuth Trane, an energy services company in Chesapeake, workers seeking a fitness boost are directed to the Green Mile, a mile-long painted line in the company’s parking lot, available for walks or runs.
At the Virginia Beach offices of Studio Center, which creates, records and produces commercial media for TV and radio, the company’s facilities are two football fields apart, the perfect distance for a long walk to help employees get their blood stirring.
Studio Center says that regular on-site Ping Pong and Foosball competitions keep their employees on the go.
Independent Container Line Ltd. in Glen Allen sponsors sports and race teams and suggests that employees take advantage of nearby walking trails and volleyball courts.
Meditation sessions
Sometimes workers need more than exercise to feel better, chase the blues away or work at an optimum performance level.
Think meditation.
The Healthcare Distribution Management Association in Arlington is on top of that idea with in-house meditation sessions.
Create Digital Inc., a full-service digital agency in Richmond, also sees the advantages of meditation. It offers yoga, meditation and information about how to create a healthy eating lifestyle.
BOSH Global Services, a technology company in Newport News, has a program, “Thin It to Win It,” that incorporates regular exercise, consumption of fruits and vegetables and weight loss.
If employees think they have trouble sticking to the routine, the company can set up a buddy system to keep everyone motivated.
Medical assessments
Many companies on the Best Companies lists include regular medical assessments of their employees as part of their focus on wellness.
Edward Jones, an investment firm headquartered in St. Louis, offers employees free online assessments and biometric screenings to measure cholesterol, glucose and blood pressure, with up to $1,560 in premium discounts earned for participating, getting good results and not smoking.
Old Point National Bank in Hampton offers workers free blood pressure checks, cholesterol screenings and mammograms annually.
When your job requires a lot of sitting, the body can rebel.
Sitting might have contributed to the lower back pain that has troubled Marty Einhorn, a managing partner with the Norfolk-based accounting firm Wall, Einhorn and Chernitzer P.C.
Heather Sunderlin, director of employee services at the firm, says that Einhorn’s chiropractor suggested that perhaps one of those sit-or-stand desks would help. And it did, she says.
That was about all the motivation the company needed to provide similar desks to all of its employees.
“These desks have motors,” Sunderlin says. “You can raise or lower them with the touch of a button.”
“It’s helped our employees in terms of morale,” Sunderlin says.
The company recently moved into a new space, the 12th floor of the SunTrust building in Norfolk, and designers laid it out to promote collaboration and health and wellness, with a lot of natural light and, of course, the new desks.
Eventually, Sunderlin says, the company will bring in a couple of treadmill desks, so employees can have the option of reading their emails while walking their way to better health.
She adds that the sit-to-stand desks have already prompted a lot of questions from clients who come into the office.
When the treadmill desks arrive — well, who knows what the questions might be?
Videos: This year's winners tell us why they are the Best Place to Work.
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Vincent Wong, the company’s co-founder and CEO, says the exercise leaders are employees with other duties, but they have been personal trainers, or have had similar roles in past jobs.
Carfax, a vehicle data company based in Centreville, wants the wheels to keep turning on its employees’ fitness. It offers an incentive to help them accomplish that: a Fitbit reimbursement program.
At Damuth Trane, an energy services company in Chesapeake, workers seeking a fitness boost are directed to the Green Mile, a mile-long painted line in the company’s parking lot, available for walks or runs.