Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller in the disposition of a ground leased Wawa situated on two acres at 471 Kempsville Road in Chesapeake.
According to Thalhimer, Our Way Development Co. acquired the property on January 20, for $4.6 million. Catharine Spangler of Thalhimer’s Richmond office handled sale negotiations.
Optima Health to provide new Medicaid program
Virginia Beach-based Optima Health has signed with the Virginia Department of Medical Assistance Services to provide the state’s first Medicaid managed long-term services and supports program.
The program, called Commonwealth Coordinated Care (CCC) Plus, will provide coverage to Virginians with complex health issues, many of whom require long-term services and supports as a result of aging, chronic illness or disability.
The program will go into effect on Aug. 1 for the Hampton Roads area, with other regions being phased in throughout the rest of the year.
Optima Health, which is part of Norfolk-based Sentara Healthcare, provides health insurance coverage to approximately 440,000 members.
Smith to retire as chairman of Owens & Minor
Health-care supplier Owens & Minor Inc. announced Friday that Chairman Craig R. Smith will not stand for re-election of his term.
Smith retired as president and CEO of the company in 2014. He first joined Owens & Minor in 1989.
Smith served as chief operating officer from 1995 through 2005, was named president in 1999 and became CEO in 2005 when he joined the board. He was elected chairman of the board in 2013.
The company plans to elect P. Cody Phipps, current president and CEO of the company, as the company’s new chairman of the board on May 5, during the company’s annual shareholder meeting.
Also on Friday, Owens & Minor announced the election of Barbara B. Hill to its board of directors. Hill has served as an operating partner of private equity firm NexPhase Capital since 2011. From 2006 until 2010, she was CEO and president of FHC Health Systems and ValueOptions Inc.
Want a strong company culture? Empower employees to drive it
The beginning of a new year is an energizing time in offices across the country. For many, it’s one of the most productive seasons for planning the year’s workplace culture initiatives. As you and your team plan the year, I encourage you to engage your employees on a deeper level to help build a winning culture. Don’t invite employees to accept the company culture. Invite them to help create it.
In many companies, the culture is set by management and often driven by human resources. At Asurion’s D.C.-area offices, we’ve encouraged employees to create and drive the workplace culture themselves. We’ve turned the thinking upside down and have put our employees in the driver’s seat of our culture-building initiatives. Our leadership team still plays a supporting role via active participation, leadership oversight with HR and some funding, but the activities and events are largely led by the employees. As a result, participation in our culture activities is up, and we have seen dramatic improvements in employee engagement and satisfaction rates.
These improvements matter. Research shows that employees who engage strongly with their community and their employer are better at their jobs. They take pride in their work, their company and its mission, their co-workers and perhaps most importantly, themselves and their community. I’d like to share some best practices I have experienced in my role at Asurion that I believe could benefit businesses and communities in our state.
Empower employees to own initiatives
Office leaders can often be critical of implementing a community-driven, culture-heavy philosophy. Leaders set the tone for company culture. If building a positive and healthy culture is important to the individuals at the top, it will permeate every level of the organization.
I have discovered, however, that empowering employees to help define and grow our company culture produces the most benefit. Our Culture Hub team is spearheaded and driven by our employees, with rotating leadership. They choose which organizations we support and develop relationships with. They initiate and implement office activities, from our Volunteer Week to inter-office networking and fun events. As a result, we’ve seen a more engaged and driven workplace culture, evidenced by our participation numbers and stronger collaboration among teams.
Consider allowing employees to take initiative in building employee engagement within the company, among co-workers and within the community. Taking a step back and allowing such a culture to grow organically is what makes it real. Create an environment where employees feel empowered to make a difference by their own volition, for themselves and for the larger good of their company culture and community. I believe that is where the value lies.
Make giving, learning and connecting fun
At Asurion, our employee-driven Culture Hub team works to engage employees on multiple levels to support a cohesive office culture. Year-round happenings include cross-department social networking events and professional development opportunities designed around topics that our employees select. Additionally, our employees organize our annual Volunteer Week activities in which they raise funds and participate in hundreds of hours of volunteer activities. These efforts benefit local nonprofit groups which our employees pick, such as the Capital Area Food Bank and Cornerstones, a Reston-based nonprofit that promotes self-sufficiency by advocating for those in need of food, shelter, affordable housing and human services. Our office networking and professional development events are driven by feedback from our employees who’ve told us that it’s important for them to meet co-workers across departments and learn about other functions within the company, to help learn and grow in their own careers. This effort at cohesion results in stronger companywide activities such as our annual Volunteer Week, when we ask everyone to come together to support causes important to them and to Asurion.
Making these kinds of activities fun is important, too. Associates had a blast during Volunteer Week – we created in-office challenges, such as putt-putt games, to encourage competition in giving. We decorated the office with pink flamingoes to rev up excitement for donations. As a result the energy grew among our teams, and our productivity rose to match the energy level. It was a contagious effort that lifted everyone’s spirits at all levels of the organization. These are just a few examples of small ideas that can get an office engaged in fun, cohesive activities.
Connect with your community
Developing workplace culture and corporate-community relationships fosters pride in oneself and in one’s company and co-workers. The benefit to the company’s bottom line and morale cannot be measured.
Of course, I say all of this from the perspective of a business leader, with my employees and colleagues in mind. However, I can’t ignore the enormous benefit that corporate volunteerism and community-building also have on just that – the community. There are needs every day in each community – including homelessness, child hunger and access to affordable childcare – which no single person can fill. Businesses and organizations hold enormous power to build and support communities. I believe they also have a responsibility to do so.
If your employees are already driving the workplace culture in your office, then you are likely seeing similar success. As a leader, there is no better feeling than an empowered and engaged workforce. I encourage all business leaders to invite their employees to take an active role in developing their company culture to help build personal meaning within the workplace and within their communities.
Rob DiRocco is senior vice president for Retail Solutions at Asurion in Sterling.
Technology company to expand in Fairfax
IOMAXIS announced Thursday it is planning to invest $3.8 million to expand its operation in Fairfax County, creating 555 new jobs over the next three years.
The company provides cyber, global communications, and advanced network and computing technologies for technology companies as well as the U.S. Department of Defense, Homeland Security, the intelligence community and law enforcement.
“We will continue to make it our mission to fight, overcome and thwart future threats for our wide portfolio of clients,” Bob Burleson, CEO of IOMAXIS, said in a statement. “To stay ahead of that challenge requires a talented, diverse workforce and policies friendly to small companies seeking to grow rapidly. Virginia provides these things, and we are very excited to be expanding our operations in the state.”
The Virginia Economic Development Partnership (VEDP) will support IOMAXIS’ new job creation through its Virginia Jobs Investment Program (VJIP), which provides consulting and funding for companies creating jobs or experiencing technological changes.
PenFed Credit Union to acquire Scranton-based credit union
PenFed Credit Union of Tysons announced it is acquiring Valor Federal Credit Union of Scranton, Pa.
At least 30,000 potential members will become eligible to join PenFed. The new members will earn higher savings rates and lower loan rates, according to PenFed. Valor members include military and civilian employees at the Tobyhanna Army Depot and employees from hundreds of companies in Northeastern Pennsylvania.
PenFed is one of the largest credit unions in the country, with more than 1.5 million members and more than $21 billion in assets. The credit union currently has more than 36,500 Pennsylvania residents.
The credit union said in a release that is expanding its member and employee bases and geographical footprint.
Revature to offer coding programs to GMU students.
Revature, a Fairfax-based talent development company, has partnered with George Mason University to offer students free coding classes.
The programs are designed to close a skills gap for software development. According to a recent report by the Northern Virginia Technology Council, more than 60 percent of technology employers said they had difficulty finding workers with experience in programming and software development.
Revature will offer intensive onsite and online coding programs for Mason students. The onsite courses are held at Revature’s headquarters in Reston and provide students with enterprise software development skills needed in the workforce.
“With these programs, we’re addressing the skills gap head-on and creating a pool of talented software developers that have the enterprise-level skills needed to enter the workforce and make an impact on day one,” Ashwin Bharath, Revature’s chief operating officer, said in a statement.
Divaris relocates and expands Virginia Beach headquarters
Divaris Real Estate Inc. has relocated and expanded its corporate headquarters in Virginia Beach to accommodate the firm’s growing staff.
The company said it has added 17 new employees in the last six months at its corporate headquarters, prompting a move to a 17,500-square-foot space on the ninth floor at 4525 Main Street in the Town Center of Virginia Beach, the latest office tower to be completed in the city’s Central Business District. It’s across the street from Divaris’ previous location of 32 years on the seventh floor of One Columbus Center, the Town Center’s first office building.
Divaris Real Estate and Divaris Property Management Corp. lease and manage both buildings, along with the other buildings at the Town Center.
According to the company, the growth is the result of several new business assignments including:
· An increase in its portfolio of leased and managed properties by about 10 percent to 29 million square feet;·
· An increase in the amount of leasing, management and acquisition assignments it handles for Armada Hoffler Properties, a Virginia-based real estate investment trust also located at the Town Center;
· A new assignment to represent the U.S. national expansion for Oak Furnitureland, a British furniture retailer;
· The representation of the Commonwealth of Virginia in its commercial space requirements throughout the state.
Missouri company plans manufacturing site in Spotsylvania
Missouri-based idX Corp., a company that helps businesses create store environments, will invest $7.2 million to establish a manufacturing operation in Spotsylvania County.
The project is expected to create 150 jobs. Virginia competed against Maryland and North Carolina for the project.
The idX website proclaims, “We are in the store opening business.” The company provides retailers with millwork, fixtures, décor and graphics. These products are made from a variety of materials including glass, laminates, metal, upholstery, veneers, and wood.
The company, based in Earth City, Mo., is acquiring the former General Motors Fredericksburg Powertrain facility from the RACER Trust, an entity established to create redevelopment opportunities for former GM sites.
“This investment in Spotsylvania County will help idX strengthen our East Coast manufacturing and distribution network and position us for continued growth and success,” Terry Schultz, CEO of idX, said in a statement.
The Virginia Economic Development Partnership worked with Spotsylvania County and the Fredericksburg Regional Alliance at the University of Mary Washington to secure the project.
Gov. Terry McAuliffe approved a $400,000 grant from the Commonwealth’s Opportunity Fund to assist Spotsylvania County with the project. Funding and services to support the company’s employee training activities will be provided through the Virginia Jobs Investment Program.
Mooring Financial Corp. selects Divaris Real Estate for leasing assignment in Hampton
Mooring Financial Corp. has selected Divaris Real Estate Inc. to handle the leasing of a Hampton office building.
The 50,000-square-foot, Class B building is located in the Langley Research and Development Park at 130 Research Drive. Situated a half mile from Langley Air Force Base and NASA facilities, the building is located in a Virginia Enterprise Zone. it was constructed in 2003. Chris Bendit and Eric Hammond of the Virginia Beach office of Divaris are the agents in charge.
Founded in 1982 and based in Tysons,Mooring Financial Corp. is a private investment firm that manages alternative assets for high net worth individual and institutional investors.