For the Record - Central Virginia

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Babock & Wilcox, a developer of nuclear power systems, will expand its Mount Athos Road facility in Lynchburg with a $2.4 million, 30,000-square-foot building, which will offer production and storage space to fill government commitments. (News and Advance)  

Barber Martin Agency, a Chesterfield County ad agency, secured Elephant Insurance Services LLC of Henrico County as a client as the insurer broadens its brand exposure and expands into new markets. The campaign kicked off with a series of TV spots called “When You Need It.” Production work was provided by Park Group, of Richmond. (Richmond Times-Dispatch) 

Capital One Financial Corp., a McLean-based financial services provider, is adding facilities to accommodate increased staffing in the Richmond area. The company is adding a 200,000-square-foot office building, a six-level parking deck and an 85,000-square-foot meeting center to its Goochland County campus. Hourigan Construction, of Henrico County, is contractor on the project, which is expected to be completed in mid-2013.(Richmond Times-Dispatch) 

Capps Shoe Co., a Lynchburg manufacturer of footwear, will fill an order for dress shoes for the Army and Marine Corps at its Gretna factory. Including options, the four-year deal, including options, is worth a potential $27.8 million. (News and Advance) 

Filtrona Porous Technologies, a Richmond-based developer of custom fluid handling components, opened an office in Singapore, which will be its regional headquarters for planned growth in Pacific markets. (PRNewswire) 

Richmond-based MeadWestvaco Corp. has opened a pilot plant in eastern Henrico County that will be a key part of the company’s research work on new products. The 48,000-square-foot plant on Laburnum Avenue is part of MeadWestvaco’s Center for Packaging Innovation, a research and development unit that the company moved to Richmond from Raleigh, N.C., not long after MeadWestvaco opened a new corporate headquarters in downtown Richmond in 2010. (Richmond Times-Dispatch) 

Parkway Properties, a Florida-based real estate investment trust, sold five office buildings in Midlothian, its last properties in the Richmond area, to Hertz Investment Group for $25 million. The properties totaled 420,000 square feet and were 75 percent leased. The move was part of Parkway’s long-term plans to exit the Richmond market. The purchase marks Hertz’s entry into Richmond. (Richmond BizSense) 

Spurrier Media Group, a media research and planning firm headquartered in Richmond, opened a satellite office in Loudoun County. The company has done work in Northern Virginia for some time, and the expansion is a result of revenue and staffing growth during the past few years. (News release) 

The University of Virginia Darden School of Business received a $1 million grant from Northrop Grumman for a new program called Business in Society, in which the school will examine issues involving business, government and society. (News release)  

The WVS Cos. and Fountainhead Properties, both Richmond development firms, kicked off a $35 million project to turn five historic downtown properties into 175 apartments and 8,000 square feet of retail space. The sites were once used by Reynolds Consumer Products to package aluminum foil. Future renovation phases call for tearing down a pair of 1970s structures for more residential, office and retail space, and construction of a high-rise structure. (Richmond Times-Dispatch) 



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