For the Record - Eastern Virginia, February 2011

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201 Dexter LLC, a unit of Norfolk’s First Home Properties LLC, bought the former home of Chesapeake Hardwood Products Inc. for $6 million. Intended as an investment property, the 21-acre site has a 457,500-square-foot building with only one tenant. Chesapeake Hardwood filed for bankruptcy in June 2010. (The Virginian-Pilot)

The Bay Coast Railroad Car Barge resumed service from the Eastern Shore to Norfolk and Virginia Beach.  A partnership involving the state, the company and area localities put a plan together to finance $1 million in safety improvements. Service had been suspended in 2009. (The Associated Press)

The College of William & Mary entered into a “sister university” arrangement with the University of Electronic Science and Technology in Chegndu, China. Details remain to be worked out, but exchanges of faculty and students are expected. (News release)

Concord Eastridge, an Arlington real estate development firm, was chosen by Virginia Tech to develop a research center in Hampton for the National Institute of Aerospace, a consortium of leading research universities. The 57,000-square-foot facility will open in December. (Business Wire)

Goodman & Co. LLP, based in Virginia Beach, plans to merge with North Carolina-based Dixon Hughes PLLC, the largest accounting firm in the South. The combined firm, known as Dixon Hughes Goodman, will be based in Charlotte, N.C. It will have 1,700 employees in 30 offices In 11 states and the District of Columbia. Goodman will retain all its existing offices in Virginia, Maryland and Washington, D.C.  (News release)

President Obama accepted the Pentagon’s plan to close the Norfolk-based Joint Forces Command, an economic blow softened by the announcement that half of the installation’s functions would remain in the Hampton Roads region. Gov. Bob McDonnell and members of the state’s congressional delegation said that the Pentagon did not release enough evidence or analysis to justify its decision. (The Washington Post)

Norfolk Southern Corp., a Norfolk-based rail company, signed an agreement with the state to upgrade tracks between Petersburg and Norfolk with the intent of instituting passenger rail service in 2013. The work will be financed through a grant from the state’s Rail Enhancement Fund. (Richmond Times-Dispatch)

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