1406175857 Virginia Business http://www.virginiabusiness.com/ Business news and intelligence for and about the Virginia business community en psquires@va-business.com Copyright 2014 2014-07-23T20:22:00+00:00 http://www.virginiabusiness.com/news/article/hall-associates-inc.-will-represent-va.-tech-corporate-research-center Hall Associates Inc. will represent Va. Tech Corporate Research Center http://www.virginiabusiness.com/news/article/hall-associates-inc.-will-represent-va.-tech-corporate-research-center http://www.virginiabusiness.com/news/article/hall-associates-inc.-will-represent-va.-tech-corporate-research-center#When:20:22:00Z Virginia Tech Corporate Research Center (CRC) in Blacksburg has selected Hall Associates Inc. in Roanoke to represent the CRC in marketing efforts nationwide to major regional and national tenants. Hall’s Frank Martin and Jim Deyerle will head the real estate company’s efforts. Adjacent to the Virginia Tech campus, the CRC is home to 162 research, technology and support companies and more than 2,700 employees. Its 230-acre park has 29 buildings and one million square feet of office and research space. An expansion on the northwest side of the park has provided enough land to construct an additional 19 buildings in Phase II of the development. Stuart Meredith, principal broker of Hall Associates said in a statement,  “We are very excited to be a part of the innovation ecosystem at the CRC and to be playing a role in this vital business community in Southwest Virginia.” Founded in 1975, Hall Associates specializes in sales and leasing brokerage for owners and tenants, as well as management of industrial, office, retail and multi-tenant properties in Southwest Virginia. 2014-07-23T20:22:00+00:00 http://www.virginiabusiness.com/news/article/general-dynamics-northrop-grumman-report-lower-sales General Dynamics, Northrop Grumman report lower sales http://www.virginiabusiness.com/news/article/general-dynamics-northrop-grumman-report-lower-sales http://www.virginiabusiness.com/news/article/general-dynamics-northrop-grumman-report-lower-sales#When:19:50:00Z Falls Church defense contractors General Dynamics Corp. and Northrop Grumman Corp. on Wednesday both reported lower sales in the second quarter. Both companies, however, raised their profit outlook for the year as they cut costs in the face of reduced federal government spending. General Dynamics reported $7.47 billion in revenue for the quarter, down 4.6 percent from sales during the second quarter last year. Profit fell 15.5 percent to $541 million, or $1.58 per diluted share, compared with $640 million, or $1.81 per diluted share, the previous year. The quarter included a $105 million charge in discontinued operations for the sale of a business within its Combat Systems unit. The company raised its earnings predictions for the year from a range of $7.05 to $7.10 per share to a range of $7.40 and $7.45. Northrop Grumman’s sales fell 4 percent to $6.04 billion in the second quarter. Profit at the company went up, however, growing 5 percent to $511 million, or $2.37 per diluted share, compared to $488 million, or $2.05 per diluted share. Northrop Grumman repurchased 6 million of its shares during the second quarter. The company raised its diluted earnings per share predictions for the year to a range of $9.15 to $9.35 per share, compared with a range of $8.90 and $9.15 per share a year earlier. 2014-07-23T19:50:00+00:00 http://www.virginiabusiness.com/uploads2/20110924_1536-1_NEW.jpg http://www.virginiabusiness.com/news/article/new-boston-fund-sells-rockwell-collins-building-in-sterling New Boston Fund sells Rockwell Collins building in Sterling http://www.virginiabusiness.com/news/article/new-boston-fund-sells-rockwell-collins-building-in-sterling http://www.virginiabusiness.com/news/article/new-boston-fund-sells-rockwell-collins-building-in-sterling#When:17:48:00Z New Boston Fund Inc. has sold Rockwell Collins, a 178,234-square-foot, Class-A office, research and development facility at TransDulles Centre in Sterling to American Realty Capital Properties, Inc. Terms of the deal were not disclosed. “It was an opportune time to sell given the strong appetite for long-term, single-tenant, net leased properties,” David Langol, vice president of asset management for New Boston Fund, said in a statement. “We developed this property as a build-to-suit for Rockwell Collins and given the remaining lease term, and quality of the asset and the tenant … the investor market recognized the value of this asset.” After winning a competitive bidding process to develop the building, New Boston, a private equity real estate investment, development and management firm based out of Boston, completed the office and manufacturing facility for Rockwell Collins Simulation & Training Solutions Group in 2011. That same year, the building’s design was named, “Best Building, Non-Institutional Facility,” at the Best of NAIOP Northern Virginia Awards. Rockwell Collins is a communication and aviation electronics solutions company. Its lease runs through 2022 and is subject to a five-year renewal. TransDulles Centre was originally purchased by New Boston in August 2007. At that time, the property consisted of twin three-story Class-A office buildings totaling 149,000 square feet, as well as 558 surface parking spaces and 18 acres of adjacent land zoned for office/warehouse development. The build-to-suit for Rockwell Collins encompasses nearly 13 of the 18 acres. Rockwell Collins is located five minutes north of Dulles International Airport in the Route 28 North submarket, and less than one mile from the interchange at VA Route 28, the major north/south highway in the region. Holliday Fenoglio Fowler represented New Boston in the transaction. American Capital Realty Partners, based out of Irvine, California, is the investment and services arm of American Capital Realty Group, one of the largest privately owned multifamily property management companies in Southern California and Central Colorado.   2014-07-23T17:48:00+00:00 http://www.virginiabusiness.com/companies/article/obannon-named-chair-of-greater-richmond-partnership O’Bannon named chair of Greater Richmond Partnership http://www.virginiabusiness.com/companies/article/obannon-named-chair-of-greater-richmond-partnership http://www.virginiabusiness.com/companies/article/obannon-named-chair-of-greater-richmond-partnership#When:16:35:00Z   Henrico County Supervisor Patricia S. O’Bannon has been named chair of the Greater Richmond Partnership’s Board of Directors. Bobby Ukrop, president and CEO of Ukrop’s Homestyle Foods, was elected vice chair of the board. The partnership also announced it has elected three new members to its board: including Ukrop; Steven Markel, vice chairman of the Markel Corp.;  and Daniel Weekley, vice president of corporate affairs for Dominion Resources. 2014-07-23T16:35:00+00:00 http://www.virginiabusiness.com/uploads2/image003.jpeg http://www.virginiabusiness.com/news/article/libbie-mill-development-gets-first-office-lease Libbie Mill Development gets first office lease http://www.virginiabusiness.com/news/article/libbie-mill-development-gets-first-office-lease http://www.virginiabusiness.com/news/article/libbie-mill-development-gets-first-office-lease#When:16:25:00Z Richmond Memorial Health Foundation has signed the first lease for office space at Libbie Mill, a new 80-acre, mixed-use community under construction between West Broad Street and Staples Mill Road near Libbie Avenue. The nonprofit, a regional, private health legacy foundation that gives grants to local health care providers, will occupy about 9,454 square feet of space on the second floor of a two-story, retail and office building. The foundation is currently located in a smaller space at Bayberry Court in Henrico County. It also houses the Nurse Leadership Institute of Virginia, a statewide leadership development program for nurse managers, and the Greater Richmond Patient Centered Medical Home Collaborative, a network of the region’s health safety net providers who are working to implement a national model of care to serve the region’s uninsured and underinsured. The foundation’s new home at Libbie Mill will be located near one of the community’s entrances on Staples Mill Road.  The building also will serve as headquarters for Gumenick Properties, a Henrico-based development and management company that’s developing Libbie Mill. Work on the new office building should be completed in September with occupancy to follow in October. CBRE|Richmond represents Gumenick Properties for leasing of retail and office portions at Libbie Mill. CBRE|Richmond represented Gumenick Properties, and Cushman & Wakefield|Thalhimer represented the foundation. “The midtown location allows us to connect easily with people and organizations across Central Virginia as we work to improve health and health care throughout our region,” Jeff Cribbs, president and CEO, Richmond Memorial Health Foundation, said in a statement. Libbie Mill is located close to I-64 and I-95. When complete, the community is projected to have 994 homes for sale and 1,096 apartments. Libbie Mill also will have a total of about 160,000 square feet of retail space and 50,000 square feet of office space. The neighborhood is estimated to take 10 years to complete. Southern Season of Chapel Hill, North Carolina, is Libbie Mill’s first commercial tenant. It will operate a 53,000-square-foot gourmet food store that’s scheduled to open on July 31. The company’s first store in the Richmond market will offer an extensive wine selection, housewares, cookware, candy, cut flowers, a coffee shop and ice cream shop, tasting stations and take-out prepared food among other items. The store also will feature a full-service restaurant and culinary school. Also coming soon is a  three-story, 60,000-square-foot Libbie Mill library that will replace the area’s Dumbarton Library.  Located next to a two-acre lake, it’s expected to be under construction this summer with an opening slated for November 2015.  Gumenick Properties donated the land for the library. 2014-07-23T16:25:00+00:00 http://www.virginiabusiness.com/news/article/more-hispanic-and-latino-students-attending-virginias-community-colleges More Hispanic and Latino students attending Virginia’s community colleges http://www.virginiabusiness.com/news/article/more-hispanic-and-latino-students-attending-virginias-community-colleges http://www.virginiabusiness.com/news/article/more-hispanic-and-latino-students-attending-virginias-community-colleges#When:16:16:00Z An analysis by the Virginia Community College System (VCCS) has found that Hispanic and Latino students are attending the state’s community colleges in record numbers. The report, presented to the State Board for Community Colleges, says that Hispanic and Latino student enrollment grew nearly 58 percent from 2009-2013 and the number of Hispanic graduates increased 150 percent during that time period. The analysis also found that the number of Hispanic students enrolled in science, technology, engineering and mathematics (STEM) programs has doubled over the past five years. More than one in six Hispanic students are currently enrolled in such programs, the report says. Their grade point averages (GPA) are also rising, with three quarters of Hispanic students earning a GPA of 2.0 or better in 2012-13, compared to 70 percent five years ago. 2014-07-23T16:16:00+00:00 http://www.virginiabusiness.com/news/article/nautilus-equipment-plant-to-be-expanded Nautilus equipment plant to be expanded http://www.virginiabusiness.com/news/article/nautilus-equipment-plant-to-be-expanded http://www.virginiabusiness.com/news/article/nautilus-equipment-plant-to-be-expanded#When:14:59:00Z A strength and cardio product company will spend $2 million to expand a Nautilus manufacturing plant in Grayson County, creating 250 jobs. Core Health & Fitness LLC has purchased the former Med-Fit facility in the Town of Independence, which had been manufacturing Nautilus equipment. Core Health & Fitness, which manufactures StairMaster machines, indoor cycling bikes, and Star Trac strength and cardio equipment, will manufacture both Nautilus equipment and its strength training product lines that are currently being manufactured in China. “We are excited to be able to acquire the Nautilus commercial licensing rights and to be able to manufacture world-renowned strength products in Independence, Virginia,” Dustin Grosz, Core Health & Fitness president and chief operating officer, said in a statement. “The skilled workforce has consistently built some of the best, if not the best, strength fitness equipment in the world. This campus will become our major, worldwide strength manufacturing hub.” Nautilus equipment has been manufactured at the plant in Independence for 34 years. Med-Fit had gone through two rounds of layoffs affecting 100 employees, according to the Galax Gazette. Normal production at the plant stopped in April, but some former Med-Fit workers were called back to work last week, the newspaper reported. Gov. Terry McAuliffe approved a $350,000 grant from the Governor’s Opportunity Fund to assist Grayson with the investment. The Virginia Tobacco Commission approved a $1 million grant for the project. 2014-07-23T14:59:00+00:00 http://www.virginiabusiness.com/companies/article/pbmares-hires-director-of-practice-growth PBMares hires director of practice growth http://www.virginiabusiness.com/companies/article/pbmares-hires-director-of-practice-growth http://www.virginiabusiness.com/companies/article/pbmares-hires-director-of-practice-growth#When:14:43:00Z Virginia-based accounting and consulting firm PBMares has hired Edward Warren as director of practice growth, a new position. Warren, who has 25 years of experience in business development, will be responsible for growing the company’s practice areas, building out the sales pipeline, and lead generation.  He also will oversee the firm’s marketing and communications. Warren previously was a manager responsible for marketing at Smith Elliott Kearns & Co. LLC, an accounting company with offices in South Central Pennsylvania and Hagerstown, Md. He has served on the  boards of United Way, Capitol Theatre Foundation and Greencastle-Antrim Chamber of Commerce. 2014-07-23T14:43:00+00:00 http://www.virginiabusiness.com/news/article/executive-order-designed-to-boost-state-contracts-for-small-companies Executive order designed to boost state contracts for small companies http://www.virginiabusiness.com/news/article/executive-order-designed-to-boost-state-contracts-for-small-companies http://www.virginiabusiness.com/news/article/executive-order-designed-to-boost-state-contracts-for-small-companies#When:20:25:00Z Gov. Terry McAuliffe on Tuesday signed an executive order designed to increase state procurement opportunities for small, women and minority-owned (SwAM) businesses. The executive order directs state agencies to award more than 42 percent of their contracts to small businesses. This goal is the highest requirement since Virginia started tracking its spending with such businesses in 2004, according to the McAuliffe administration. The order also creates a “micro business” designation for businesses that have fewer than 25 employees and less than $3 million in annual revenue in the three years prior to certification. The administration says this covers 80 percent of SwAM-certified businesses. The order also increases the value of state contracts that are set aside for small businesses to $100,000 for goods and nonprofessional services and up to $50,000 for professional services when the quoted price is “fair and reasonable.” It also requires that purchases under $10,000 be set aside for micro businesses if the price is fair. McAuliffe’s order directive also encourages prime contractors to use SwAM businesses for subcontracts and requires them to come up with a procurement plan. 2014-07-22T20:25:00+00:00 http://www.virginiabusiness.com/news/article/union-mortgage-group-names-president-and-ceo Union Mortgage Group names president and CEO http://www.virginiabusiness.com/news/article/union-mortgage-group-names-president-and-ceo http://www.virginiabusiness.com/news/article/union-mortgage-group-names-president-and-ceo#When:19:52:00Z Union Mortgage Group Inc., a non-bank affiliate of Richmond-based Union Bankshares Corp., has hired James G. "JG" Carter III as its president and CEO. Carter has more than 30 years of experience in the mortgage industry starting with United Virginia Mortgage. His mortgage banking background includes retail, sales and operations, risk management, fraud prevention and governance. Carter is a member of the Mortgage Bankers Association of America.  He also is on the board of Housing Virginia, a nonprofit that focuses on affordable housing issues in Virginia.  Carter is a past president of the Virginia Mortgage Lenders Association and has served on the association's board of directors.  Union Bankshares is the holding company for Union First Market Bank, which has 131 branches and 200 ATMs throughout Virginia. 2014-07-22T19:52:00+00:00 http://www.virginiabusiness.com/news/article/apm-terminals-to-sell-portsmouth-facility APM Terminals to sell Portsmouth facility http://www.virginiabusiness.com/news/article/apm-terminals-to-sell-portsmouth-facility http://www.virginiabusiness.com/news/article/apm-terminals-to-sell-portsmouth-facility#When:16:19:00Z   APM Terminals is selling its state-of-the-art marine terminal in Portsmouth. Affiliates of investment funds Alinda Capital Partners, an infrastructure investor, and pension fund Universities Superannuation Scheme Ltd. (USS), plan to purchase the facility in the third quarter. The sale is not expected to affect the Virginia Port Authority’s current 20-year lease of the facility, the terminal’s staff, or customers of the facility. APM Terminals, a unit of the A.P. Moller-Maersk, built the $540 million deep-water marine terminal in 2007. At the time it was the most technologically advanced marine terminal in North America. After expected container traffic failed to materialize in the weak economy, APM Terminals agreed in 2010 to lease its facility to the Port of Virginia. Christian Moller Laursen, CFO of APM Terminals, said the terminal no longer fits with the port operator’s global strategy. “We have chosen to sell our Portsmouth terminal because we are a non-operating lessor of the facility to the Commonwealth of Virginia for the next 16 years,” Laursen said in a statement. Once the sale is completed, the terminal will be renamed Virginia International Gateway. 2014-07-22T16:19:00+00:00 http://www.virginiabusiness.com/companies/article/three-new-executives-named-to-virginia-tech-board-of-visitors Three new executives named to Virginia Tech Board of Visitors http://www.virginiabusiness.com/companies/article/three-new-executives-named-to-virginia-tech-board-of-visitors http://www.virginiabusiness.com/companies/article/three-new-executives-named-to-virginia-tech-board-of-visitors#When:20:34:00Z Effective this month, three new members have joined the Virginia Tech Board of Visitors. Wayne Robinson, Mehul Sanghani and Horacio Valeiras were recently appointed to the board by Gov. Terry McAuliffe. All three appointees are Virginia Tech alumni. Robinson is the chief diversity practice leader at Greensboro, N.C.-based Wyndham Mills International; Mehul Sanghani is the founder and president of Octo Consulting Group in McLean; and Horacio Valeiras is a principal of HAV Capital LLC, headquartered in La Jolla, Calif. Michael Quillen, the founder and retired chairman of Bristol-based Alpha Natural Resources, has also been re-appointed to the board. Quillen, also a Virginia Tech graduate, served two years as rector during his first term on the Board of Visitors. Their terms on the Board of Visitors run until June 30, 2018. 2014-07-21T20:34:00+00:00 http://www.virginiabusiness.com/uploads2/BLVD_-_Reston_Station_email.jpg A rendering of BLVD at Reston Station | Photo courtesy HFF http://www.virginiabusiness.com/news/article/hff-arranges-95-million-financing-for-blvd-at-reston-station-apartments HFF arranges $95 million financing for BLVD at Reston Station http://www.virginiabusiness.com/news/article/hff-arranges-95-million-financing-for-blvd-at-reston-station-apartments http://www.virginiabusiness.com/news/article/hff-arranges-95-million-financing-for-blvd-at-reston-station-apartments#When:20:19:00Z HFF, a provider of commercial real estate and capital markets services, announced Monday it has secured $95 million in financing for BLVD at Reston Station, a 21-story luxury apartment building that will be atop the Wiehle-Reston East Metro Station in Reston. HFF worked on behalf of Comstock Partners to place the 48-month construction loan with Citizens Bank. The building will be the inaugural phase of the Reston Station mixed-use project that will include 550,000 square feet of Class A office space, retail, a 200-room hotel and another multi-family residential building.  The residential units will average 868 square feet each and will include studio, one-, two- and three-bedroom floor plans.  Community amenities will include a rooftop swimming pool, fitness facility, yoga room and private entertaining area. Preleasing for BLVD at Reston Station will begin in late 2015. Wiehle-Reston East Metro Station is the last stop on Phase I of the new Silver Line that’s debuting Saturday. 2014-07-21T20:19:00+00:00 http://www.virginiabusiness.com/news/article/virginias-oyster-population-continues-surge Virginia’s oyster population continues surge http://www.virginiabusiness.com/news/article/virginias-oyster-population-continues-surge http://www.virginiabusiness.com/news/article/virginias-oyster-population-continues-surge#When:19:38:00Z There’s good news for oyster fans: last year’s Virginia oyster harvest was the largest in the commonwealth since 1987. Virginia’s oyster harvest grew 25 percent in 2013 to 504,000 bushels. Harvesting from public oyster grounds grew 42 percent to 213,152 bushels last year, while the harvest at privately leased growing areas grew 12.6 percent to 290,961 bushels. The state has been undergoing an oyster replenishment program to save Virginia’s oyster population, which dwindled to 23,000 bushels in 2001. The Virginia Marine Resources Commission’s program includes rotational oyster harvest areas and the deployment of fossil oyster shells from under the James River to public oyster grounds. These shells become home for oyster larvae that attach to them during spawning. Oysters themselves do their part to help clean the Chesapeake Bay. Each oyster can filter up to 50,000 gallons of water a day, according to the commission. “State investments in our oyster replenishment program are showing positive results,” Molly Joseph Ward, Virginia Secretary of Natural Resources, said in a statement. “Keeping this momentum is vital to the growth of the oyster industry. Our comprehensive fisheries management programs, combined with private sector investments, are having a very positive impact for the Bay, consumers and the economy. We need to keep moving forward.” 2014-07-21T19:38:00+00:00 http://www.virginiabusiness.com/news/article/skanska-usa-sells-arlington-office-property-for-90-million Skanska USA sells Arlington office property for $90 million http://www.virginiabusiness.com/news/article/skanska-usa-sells-arlington-office-property-for-90-million http://www.virginiabusiness.com/news/article/skanska-usa-sells-arlington-office-property-for-90-million#When:15:21:00Z Skanska USA Commercial Development has agreed to sell a 139,394-square-foot office property in Arlington County to an institutional client of Invesco Real Estate. According to the Washington Business Journal, the sales price is $90 million. Skanska said in a press release that the property, office and retail space at 1776 Wilson Blvd., is 90 percent leased. The company acquired the site in May 2010 and self-financed all of the development costs for the five-story, Class A project. Completed in November 2012, the property was the first commercial office building in Arlington to achieve LEED platinum (the highest sustainable building rating) under the U.S. Green Building Council’s Core and Shell certification program. The building offers a fitness center, a green roof, which reduces storm water over flow, and a photovoltaic array which produces more than 1 percent of the building’s total energy use. Besides Skanska, current tenants include LMO Advertising, National Association of Drug Stores and Pier 1 Imports. 2014-07-21T15:21:00+00:00 http://www.virginiabusiness.com/uploads2/Knepper.jpeg http://www.virginiabusiness.com/companies/article/kris-knepper-joins-cbrehampton-roads-as-a-vice-president Kris Knepper joins CBRE|Hampton Roads as a vice president http://www.virginiabusiness.com/companies/article/kris-knepper-joins-cbrehampton-roads-as-a-vice-president http://www.virginiabusiness.com/companies/article/kris-knepper-joins-cbrehampton-roads-as-a-vice-president#When:15:13:00Z CBRE| Hampton Roads has hired Kris Knepper to join its investment properties team as a vice president. A commercial real estate professional for more than 11 years, Knepper has experience in commercial construction, development, acquisition and finance. In his new position, he will help buyers and sellers meet tinvestment property goals. Knepper received his bachelor's degree in mathematics from Allegheny College in Meadville, Pa.,  and he has a master's degree from Old Dominion University in Norfolk. He is a member of the International Council of Shopping Centers. 2014-07-21T15:13:00+00:00 http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-new-lease-transactions-in-hampton-roads Cushman & Wakefield | Thalhimer reports new lease transactions in Hampton Roads http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-new-lease-transactions-in-hampton-roads http://www.virginiabusiness.com/news/article/cushman-wakefield-thalhimer-reports-new-lease-transactions-in-hampton-roads#When:15:05:00Z Cushman & Wakefield | Thalhimer  reports several new lease transactions in Hampton Roads. According to the commercial real estate company, the largest transaction was for Homeland Security Solutions, which renewed its lease of 19,500 square feet at 3130 NASA Drive in Hampton.  Andy Dallas and Bobby Phillips handled the lease negotiations.   In other deals, S & V Warehousing leased 18,000 square feet at 801 48th Street in Newport News. Phillips handled the lease negotiations.   Kuerig Green Mountain leased 17,000 square feet of industrial storage space in the Ark Group Building at 1010 Obici Industrial Blvd. in Suffolk.  William Throne handled the lease negotiations. 2014-07-21T15:05:00+00:00 http://www.virginiabusiness.com/news/article/corporate-executive-board-signs-for-350000-square-feet-at-new-office-tower Corporate Executive Board signs for 350,000 square feet at new office tower in Arlington http://www.virginiabusiness.com/news/article/corporate-executive-board-signs-for-350000-square-feet-at-new-office-tower http://www.virginiabusiness.com/news/article/corporate-executive-board-signs-for-350000-square-feet-at-new-office-tower#When:14:32:00Z     The Corporate Executive Board (ÇEB) and the governor’s office announced a new global headquarters operation for CEB on Monday that will create 800 news jobs and give a new office tower in Rosslyn an anchor tenant. CEB has signed an agreement to lease about 350,000 square feet of space in The JBG Cos. Central Place development at 1201 Wilson Blvd. According to the governor’s office, the company plans to invest $149.7 million in a headquarters operation that supports future workplace plans and can accommodate CEB’s growing global requirements. The member-based advisory company, which works with more than 10,000 organizations around the world, plans to move from two buildings nearby in Rosslyn to its new headquarters in 2018. The building will be named "CEB Tower." Company spokesperson Leslie Tulio said the relocation will consolidate staff into one building. Tom Monahan, CEB chairman and CEO, said in a statement that as the company engaged in long-range financial, workforce and real estate planning, “it became clear that this move represented a rare opportunity to secure state-of-the-art space for our growing employee population while realizing attractive economic leverage. Beyond pure economics, employee engagement and productivity were key considerations in our CEB Tower decision. We wanted to ensure that our team would have access to all the tools they needed to do their jobs and to collaborate effectively with their colleagues across our 50+ offices on six continents." Gov. Terry McAuliffe said the new global headquarters and investment “are tremendous testaments to the confidence the company has in Arlington County and the commonwealth as it grows its presence internationally, and creates the workspace and technology for jobs of the 21st century.  As governor, I am committed to bringing projects like these to Virginia – those that create high-paying jobs and will help to diversify and protect the Virginia economy from federal budget cuts.” In a nod to $9.5 million in state incentives that came with the deal, Monahan said the agreement “would not have been possible without the exceptional partnership of the commonwealth and Arlington County.’’ The Virginia Economic Development Partnership worked with Arlington Economic Development to secure the project for Virginia. Gov. McAuliffe approved a $4.5 million grant from the Governor's Opportunity Fund to assist Arlington County, and he also approved $5 million in funds from the Virginia Economic Development Incentive Grant (VEDIG). This is a self-funded program of performance-based incentives that the state awards to economic development projects with large numbers of employees and very high wages relative to average wages for that particular area. Through its Virginia Jobs Investment Program, the Virginia Department of Business Assistance also will provide funding and services to support the company's recruitment, training and retraining activities. CEB initially will occupy 15 floors within the CEB Tower, a mixed-use complex development located directly above the Rosslyn Metro Station in Arlington. The two-building project will include a 31-story, 525,000-square-foot office tower, a 31-story, 377-unit residential tower, a public observation deck, public plaza and 45,000 square feet of ground-level retail. CEB’s lease includes office and conference space to facilitate the hundreds of executive leadership events the company hosts annually. The location offers proximity to international travel hubs and is close to local public transportation. The facility also will offer bike and car parking for commuters and a panoramic observation deck. "We are very excited to have CEB sign on for the new CEB Tower," said Andy VanHorn, a JBG Principal. "We've landed a world-class tenant that will help us realize the complete vision for Central Place as a thriving mixed-use development that creates a new sense of community in Rosslyn." CEB moved from the district to Virginia in 2008. By combining advanced research and analytics with best practices from member companies, CEB says it helps business leaders realize better returns by more effectively managing talent, information, customers, and risk. Member companies include nearly 90 percent of the Fortune 500, more than 75 percent of the Dow Jones Asian Titans, and 85 percent of the FTSE, the 100 companies listed on the London Stock Exchange with the highest market capitalization. 2014-07-21T14:32:00+00:00 http://www.virginiabusiness.com/uploads2/James_Hope_hires.jpg http://www.virginiabusiness.com/companies/article/performance-food-group-hires-new-executive Performance Food Group hires new executive http://www.virginiabusiness.com/companies/article/performance-food-group-hires-new-executive http://www.virginiabusiness.com/companies/article/performance-food-group-hires-new-executive#When:18:38:00Z Performance Food Group announced Friday that it has hired a longtime Sysco Corp. executive. The Richmond-based company named Jim Hope as executive vice president of operations. He will be in charge of operations and procurement at the food company. Hope worked for Sysco for 26 years, joining the company as a corporate financial analyst in 1987. He held a variety of leadership roles at the company, most recently as executive vice president of business transformation. Hope is a former board trustee of the National Restaurant Association. 2014-07-18T18:38:00+00:00 http://www.virginiabusiness.com/uploads2/Shunde-Admin-Entrance2.jpg The entrance of Rainbow Station's school in Foshan’s Shunde District. http://www.virginiabusiness.com/news/article/rainbow-station-opening-second-school-in-china Rainbow Station opening second school in China http://www.virginiabusiness.com/news/article/rainbow-station-opening-second-school-in-china http://www.virginiabusiness.com/news/article/rainbow-station-opening-second-school-in-china#When:18:07:00Z Rainbow Station is expanding its presence in China. The Henrico County-based company is adding a second school in Foshan’s Shunde District, about 80 miles from its first location in Shenzhen. Classes are set to start Monday at the 4,600-square-foot school that is located inside a shopping mall. As of Thursday there were six children enrolled at the new location, which will have a maximum enrollment of 350 students. “The kindergarten will be similar to our U.S. option and will include a full day of school as well as an afterschool and camp option in the summer,” Gail Johnson, Rainbow Station’s president, CEO and founder, said in an email. In the U.S., Rainbow Station offerings include nursery, preschool, kindergarten and after-school programs. The company has eight franchises in the U.S. and plans to expand abroad through franchising.  Johnson says the company’s goal is to add a school in a new country each year. In China, Rainbow Station aims to open 110 schools within five years. The company also is set to debut in Jakarta, Indonesia, later this year. Rainbow Station China’s CEO Paul Pan says the company has received an “extremely positive” response in China. “Our first school in Shenzhen is continuing to grow at a remarkable rate with 250 children enrolled,” he said in an email. “With the opening of our second school, we expect to have a very similar welcoming in Shunde.” Photo courtesy Rainbow Station 2014-07-18T18:07:00+00:00 http://www.virginiabusiness.com/news/article/new-furniture-store-coming-to-hampton-roads-market New furniture store coming to Hampton Roads market http://www.virginiabusiness.com/news/article/new-furniture-store-coming-to-hampton-roads-market http://www.virginiabusiness.com/news/article/new-furniture-store-coming-to-hampton-roads-market#When:17:21:00Z   New York-based home furnishings retailer West Elm is making its first foray into the Hampton Roads Market. Divaris Real Estate Inc. said Friday that West Elm has signed a lease for 10,000 square feet at The Town Center of Virginia Beach.  Its store will be located on Main Street on the first floor of the newly constructed 4505 Main Street Tower and next to a recently announced Anthropologie store. Since opening for business in 2002 in Brooklyn, West Elm collaborated with independent artists and craft communities to create affordable statement pieces and seasonal collections. The company offers furniture, bedding, bathroom accessories, rugs, curtains, lighting, decorative accessories, dinnerware, kitchen essentials and gifts.  West Elm’s grand opening at the town center is expected in 2015. “It’s a perfect complement to our growing and exciting retail tenant mix,” Gerald Divaris, chairman and CEO of Divaris, said in a statement. West Elm is the sixth new tenant to announce a location in the fifth phase at the center. Other new retailers that have joined the mixed-use development include Anthropologie, Free People, a women’s clothing store; Lululemon Athletica, Francesca’s and Twist Martini, a restaurant and martini bar.   In the West Elm deal, Divaris and Sezin Cortinas handled lease negotiations on behalf of the landlord, Armada Hoffler Properties Inc. in Virginia Beach.  Divaris Real Estate leases the town center, and it is managed by Divaris Property Management Corp. 2014-07-18T17:21:00+00:00 http://www.virginiabusiness.com/news/article/virginia-unemployment-rises-again Virginia unemployment rises again http://www.virginiabusiness.com/news/article/virginia-unemployment-rises-again http://www.virginiabusiness.com/news/article/virginia-unemployment-rises-again#When:16:44:00Z Virginia unemployment rose in June for the second consecutive month, reaching 5.3 percent. The June jobless rate is two-tenths of a percentage point higher than May’s rate of 5.1 percent, according to the Virginia Employment Commission. June’s figure also is four-tenths of a percentage point higher than the 4.9 percent rate recorded in April. The unemployment numbers are seasonally adjusted, meaning they take into account seasonal fluctuations in the labor market. In June 2013, Virginia’s jobless rate was 5.7 percent. The national unemployment rate last month was 6.1 percent, down two-tenths of a percentage point from May. Virginia’s seasonally adjusted, nonfarm employment in June rose by 4,100 jobs to a total of 3.77 million. Nonetheless, the employment level has not returned to its precession peak of 3.79 million reached in April 2008. Employment rose in seven industry sectors in June while declining in four others.  The biggest increase occurred in private education and health services, up 2,200 jobs to 512,400, the second consecutive gain after declining in March and April. The biggest decline in employment occurred in trade and transportation, down 2,700 jobs to 638,400. That sector had seen four consecutive months of job growth before June. . . 2014-07-18T16:44:00+00:00 http://www.virginiabusiness.com/news/article/jll-selected-as-leasing-agent-for-logistics-facility-in-lorton JLL selected as leasing agent for logistics facility in Lorton http://www.virginiabusiness.com/news/article/jll-selected-as-leasing-agent-for-logistics-facility-in-lorton http://www.virginiabusiness.com/news/article/jll-selected-as-leasing-agent-for-logistics-facility-in-lorton#When:21:14:00Z Realterm NAT has hired JLL’s Northern Virginia office to lease a 48,000-square-foot logistics warehouse on nine acres of paved industrial land in Lorton. The property at 8550 Terminal Road has more than 550-feet of frontage on I-95, offering tenants visibility from more than 200,000 cars per day. It includes a 7,000-square-foot vehicle maintenance facility. “This is one of the most unique industrial offerings in the Washington metro area,” John Dettleff, a senior vice resident at JLL, said in a statement. “It is very rare to find this much available industrial land so close to Washington and surrounded by a densely populated, affluent and young population base.”  Dettleff will manage the assignment for JLL. Realterm NAT, based out of Annapolis, Md., closed on its acquisition of the property last week. The acquisition was made through the firm's Realterm Logistics Fund L.P, a $400 million vehicle that focuses on investments in logistics real estate in primary and key secondary U.S. markets. Realterm NAT is a subsidiary of Realterm Global, a private equity investment firm and development company focused on logistics and infrastructure assets with about $2.5 billion in assets under management across more than 300 operating and development investments in the U.S., Canada, Europe and India. 2014-07-17T21:14:00+00:00 http://www.virginiabusiness.com/companies/article/new-chair-named-for-state-board-for-community-colleges New chair named for State Board for Community Colleges http://www.virginiabusiness.com/companies/article/new-chair-named-for-state-board-for-community-colleges http://www.virginiabusiness.com/companies/article/new-chair-named-for-state-board-for-community-colleges#When:20:31:00Z Dorcas Helfant-Browning of Virginia Beach has been named chair of the State Board for Community Colleges. She will serve a one-year term. Helfant-Browning previously was vice chair. She was appointed to the State Board by Gov. Tim Kaine in 2009 and was reappointed in 2011 by Gov. Bob McDonnell. She previously served eight years, including three terms as chair on the Tidewater Community College local board. She currently serves as liaison to both Tidewater and Paul D. Camp community colleges.  The Virginia Community College System  includes 23 community colleges on 40 campuses across the commonwealth. 2014-07-17T20:31:00+00:00 http://www.virginiabusiness.com/companies/article/stauntons-economic-development-director-retiring Staunton’s economic development director retiring http://www.virginiabusiness.com/companies/article/stauntons-economic-development-director-retiring http://www.virginiabusiness.com/companies/article/stauntons-economic-development-director-retiring#When:20:28:00Z Bill Hamilton, Staunton’s economic development director for 26 years, is retiring. Hamilton has headed the Department of Economic Development since its creation in 1988. During his tenure, the city said, Hamilton has played a key role in major projects such as the American Shakespeare Center, Stonewall Jackson Hotel and Conference Center, The Villages at Staunton, Green Hills Industry & Technology Center, Western State Hospital and Staunton Crossing. Staunton will begin the search process for a new economic development director immediately. Deputy City Manager Steve Rosenberg, in coordination with assistant director of economic development Courtland Robinson, will oversee the economic development office until a replacement is found. 2014-07-17T20:28:00+00:00 http://www.virginiabusiness.com/news/article/new-winery-opens-in-loudoun-county New winery opens in Loudoun County http://www.virginiabusiness.com/news/article/new-winery-opens-in-loudoun-county http://www.virginiabusiness.com/news/article/new-winery-opens-in-loudoun-county#When:20:09:00Z Loudoun County has opened its 43rd winery. The new operation, Winery 32, continues Loudoun’s momentum in the industry with the county home to more wineries than any other county in Virginia. Winery 32 is located at 15066 Limestone School Road in Leesburg. The Loudoun County Department of Economic Development worked with the owners throughout the development process from concept to reality, assisting with land-use decisions, permitting, marketing concepts and obtaining a Virginia Alcohol Beverage Control license. According to the department, the winery is valued at $800,000. Winery 32’s initial offerings include a peach dessert wine and a peach-flavored vidal blanc, along with traditional wines such as chardonnay, chambourcin and merlot. “Choosing Loudoun County for a new agricultural winery and vineyard was an easy decision,” owner Roxanne Moosher said in a statement.  “We found the farmlands of Loudoun County to be stunningly beautiful, coupled with the warm and welcoming agricultural community, who are amazingly helpful. We are looking forward to serving the county in turn by creating more jobs and providing a great tourism venue to the public.” As for how the winery came up with its name, Moosher and husband, Michael, explain that on the winery’s Website. They noticed that the 32-acre property came with 32 large stone planters, into which they planted 32 Gloria Peach trees. In addition, “The planting of our grape vines coincided with our 32nd wedding anniversary. The number 32 is just right,” the couple stated. Wineries are one of Loudoun’s most important industries, with an estimated $136 million economic impact for the county, according to Loudoun Economic Development Director Buddy Rizer. The wineries not only impact the local economy through product sales to customers and retailers, but also by attracting visitors to the county for wine-tasting and culinary tours. Loudoun Agricultural Development Officer Kellie Boles said in a statement that Visit Loudoun’s research shows that 60 percent of winery visitors come from outside the county. “Those who just come for the day spend more than $300 on their winery trip, and those who stay overnight spend almost $800.” 2014-07-17T20:09:00+00:00 http://www.virginiabusiness.com/news/article/orbital-reports-lower-revenues-but-higher-profit Orbital reports lower revenues but higher profit http://www.virginiabusiness.com/news/article/orbital-reports-lower-revenues-but-higher-profit http://www.virginiabusiness.com/news/article/orbital-reports-lower-revenues-but-higher-profit#When:19:59:00Z Orbital Sciences Corp. reported a 4.5 percent revenue decrease in the second quarter, which the company attributed to delays on satellite contracts. The company’s quarterly profit, however, was slightly higher than in the same quarter last year. The space technology company reported lower revenues in its launch vehicles, satellites and space systems and advanced space programs segments. Orbital, which is based in Dulles, lowered its full-year revenue projections to between $1.4 billion and $1.425 billion. Previously the company’s projections were for revenues of $1.45 billion to $1.5 billion. The company also said Thursday that it remains on target to close the merger of its aerospace and defense groups with those of ATK (Alliant Techsystems) in the fourth quarter. THE NUMBERS: Revenues were $318.1 million in the second quarter, compared with $333.1 million during the same period last year. Profit was up to $16.5 million, or 27 cents per diluted share, compared with $16.3 million, or 27 cents per diluted share, in the second quarter of 2013. THE COMPANY’S TAKE: "While revenues were down due to the delayed start of several satellite contracts, the quarter's adjusted earnings per share and year-to-date free cash flow were well ahead of last year's results," David W. Thompson, Orbital's chairman and CEO said in a statement.  "In addition to carrying out a series of important space missions and booking $550 million of new business, the company's big news in the second quarter was the announcement of a proposed merger-of-equals combination of Orbital and ATK's Aerospace and Defense Groups.” 2014-07-17T19:59:00+00:00 http://www.virginiabusiness.com/news/article/interstate-hotels-resorts-acquires-rim-hospitality-hotel-management-agreeme Interstate Hotels & Resorts acquires Rim Hospitality hotel management agreements http://www.virginiabusiness.com/news/article/interstate-hotels-resorts-acquires-rim-hospitality-hotel-management-agreeme http://www.virginiabusiness.com/news/article/interstate-hotels-resorts-acquires-rim-hospitality-hotel-management-agreeme#When:19:57:00Z Arlington-based Interstate Hotels & Resorts — a major hotel management company — has acquired the hotel management agreements of Rim Hospitality. Interstate plans to create a Rim Hospitality Division based in Rim's Newport Beach, Calif., headquarters to manage the acquired portfolio. Interstate said the portfolio strengthens the company's West Coast presence while increasing its management agreements with independent boutique and branded hotels. The acquisition adds nearly 70 hotels with more than 10,600 rooms, including brands such as Marriott, Hilton and Starwood.  Interstate is a subsidiary of a joint venture between the subsidiaries of Thayer Lodging Group and Jin Jiang Hotels. The company and its affiliates manage 440 hotels with more than 81,000 rooms in North America, Europe and Asia-Pacific, with ownership interest in 31 hotels. In addition, Interstate has executed agreements to manage 39 hotels with over 6,400 rooms under construction or development throughout the world. 2014-07-17T19:57:00+00:00 http://www.virginiabusiness.com/news/article/bytegrid-acquires-seattle-area-data-center ByteGrid acquires Seattle-area data center http://www.virginiabusiness.com/news/article/bytegrid-acquires-seattle-area-data-center http://www.virginiabusiness.com/news/article/bytegrid-acquires-seattle-area-data-center#When:18:59:00Z McLean-based data-center company ByteGrid Holdings LLC has acquired NetRiver, a colocation provider based in Lynnwood, Wash., a suburb of Seattle. Financial terms of the deal were not disclosed. ByteGrid said the acquisition expands its data center portfolio to the West Coast, giving it a national footprint. The deal also provides the company with a managed-services platform that can be used at its other data center. “This acquisition and expansion is the latest step in the execution of our growth plan as we have evolved into a leading provider of colocation solutions to mid-market, large-enterprise and government entities,” Ken Parent, ByteGrid’s CEO, said in a statement. NetRiver provides colocation, cloud-server, managed-storage and connectivity solutions to more than 170 business and cloud-service customers. Under the terms of the deal, ByteGrid acquired all of NetRiver’s assets, including its customer contracts, land and a multi-tenant, 45,000-square-foot data center. In addition, ByteGrid gained leasehold rights to a second data center in Spokane, Wash., that serves primarily as a disaster recovery base for customers. ByteGrid plans a multi-million dollar expansion to enhance services to NetRiver’s current customers while creating room for growth at its data center. ByteGrid owns and operates five data centers in the Atlanta, Cleveland, Chicago, Seattle and Washington, D.C., metro areas encompassing more than 700,000 square feet of space. The company plans to acquire more facilities. 2014-07-16T18:59:00+00:00 http://www.virginiabusiness.com/news/article/airbus-joins-commonwealth-center-for-advanced-manufacturing Airbus joins Commonwealth Center for Advanced Manufacturing http://www.virginiabusiness.com/news/article/airbus-joins-commonwealth-center-for-advanced-manufacturing http://www.virginiabusiness.com/news/article/airbus-joins-commonwealth-center-for-advanced-manufacturing#When:18:09:00Z European aircraft manufacturer Airbus has joined the Commonwealth Center for Advanced Manufacturing (CCAM), a Virginia-based collaborative research organization. The France-based company  becomes the 19th industrial member of CCAM, which is housed near a Rolls-Royce jet components factory in Prince George County. “Airbus was founded on innovation – we operate daily knowing that using and developing leading-edge technology is a requirement in our business, and CCAM is founded on that mindset,” Charles Champion, executive vice president for engineering at Airbus, said in a statement.  “This union is a natural one.  Tapping the intellects of the greatest researchers in the industry benefits everyone involved from the developers to the end users.” The company announced its membership with CCAM during the Farnborough International Airshow in the United Kingdom. “The addition of a major player like Airbus is a great testament to the pivotal role CCAM plays as a centerpiece of Virginia’s efforts to promote R&D and technology commercialization, and contribute to a growing Virginia economy,” Gov. Terry McAuliffe said in a statement. Airbus is an “organizing industry member” of CCAM,  a group of members that  agree to a long-term commitment to the organization. According to the CCAM website, these members have influence over its management, vision and research plans. They also appoint one voting member each to the CCAM board of directors, industry operations board and the technical advisory council. Airbus has manufactured single-aisle and wide-body commercial aircraft, military airlifters, cargo transports and business aircraft for more than 40 years. CCAM member companies and its academic and government partners collaborate on research to lead to innovative manufacturing practices in aerospace, defense, transportation, consumer electronics and other industries. In addition to Airbus, CCAM industry members include Canon Virginia Inc., Chromalloy, Newport News Shipbuilding, Rolls-Royce, Sandvik Coromant, Siemens, Oerlikon Metco, Aerojet Rocketdyne, Blaser Swisslube, Hermle Machine Co., Mitutoyo, Paradigm Precision, Buehler, Cool Clean Technologies, GF AgieCharmilles, Mechdyne, National Instruments and Spatial Integrated Systems. The government member is NASA Langley Research Center. Academic partners are the University of Virginia, Virginia State University, Virginia Tech and Old Dominion University. 2014-07-16T18:09:00+00:00 http://www.virginiabusiness.com/news/article/liberty-source-pbc-to-create-596-jobs-at-fort-monroe Liberty-Source PBC to create 596 jobs at Fort Monroe http://www.virginiabusiness.com/news/article/liberty-source-pbc-to-create-596-jobs-at-fort-monroe http://www.virginiabusiness.com/news/article/liberty-source-pbc-to-create-596-jobs-at-fort-monroe#When:14:40:00Z Liberty-Source PBC said Wednesday it plans to invest $1.56 million to establish a customer service operation at Fort Monroe in Hampton that’s expected to create 596 jobs. In a statement, Gov. Terry McAuliffe called Liberty-Source “a tremendous” addition to Hampton Roads. “The company’s delivery model is centered on employing staff from the U.S. military community, and Fort Monroe and the City of Hampton have a long and storied military history,” McAuliffe said. Liberty-Source will provide finance, accounting, human resources, customer care and other support services. Liberty-Source offers large multinational companies an onshore alternative to a traditional offshore business process outsourcing (BPO) model.  “Virginia is the ideal location to headquarter a BPO operation,” Steve Hosley, president and CEO of Liberty-Source said in a statement.  “With over 30,000 active military from all 5 branches in the greater Hampton Roads area, Fort Monroe provides us access to a highly skilled and dedicated workforce.” McAuliffe approved a $300,000 grant from the Governor’s Opportunity Fund to assist Hampton with the project. 2014-07-16T14:40:00+00:00 http://www.virginiabusiness.com/news/article/chantilly-based-american-systems-names-new-ceo Chantilly-based American Systems names new CEO http://www.virginiabusiness.com/news/article/chantilly-based-american-systems-names-new-ceo http://www.virginiabusiness.com/news/article/chantilly-based-american-systems-names-new-ceo#When:21:07:00Z Peter Smith has been named president and CEO of Chantilly-based American Systems, a major provider of federal IT and engineering solutions. The appointment is effective on Aug. 1. Smith, who is currently chief operating officer, succeeds Bill Hoover who is retiring. Hoover, who had been CEO since 2005, will remain vice chairman on the company’s board of directors. Smith joined the company in 1980 and has held a number of roles with increased responsibility. He was named COO in 2010. In addition, Smith holds several industry leadership roles including service on the TechAmerica Public Sector board of directors . He received a bachelor’s degree in physics from the University of Massachusetts at Amherst and an master’s in electrical engineering from George Washington University. Founded in 1975, American Systems has about 1,500 employees nationwide. . 2014-07-15T21:07:00+00:00 http://www.virginiabusiness.com/news/article/andersons-home-and-garden-showplace-to-open-site-in-virginia-beach Anderson’s Home and Garden Showplace to open site in Virginia Beach http://www.virginiabusiness.com/news/article/andersons-home-and-garden-showplace-to-open-site-in-virginia-beach http://www.virginiabusiness.com/news/article/andersons-home-and-garden-showplace-to-open-site-in-virginia-beach#When:16:10:00Z Anderson’s Home and Garden Showplace plans to build a 35,000-square-foot retail center on the corner of Sandbridge Road and Fisher Arch in Virginia Beach. The project is expected to create 48 jobs with a projected payroll of $800,000. The company has purchased the 6.7-acre site for $1.5 million. Construction costs are estimated to be $5 million. Completion is scheduled for March 2015. Anderson’s Home & Garden Showplace, a family owned business, opened in Newport News in 1954. The Virginia Beach location will be modeled after the Newport News location with a  garden center, café, women’s boutique featuring fashion, handbags, shoes, and fragrances, design/build landscaping services and an extensive collection of seasonal, gift and home-décor items. The Virginia Beach Development Authority approved an Economic Development Investment Program grant of $75,000 based on the total capital investment for real estate, construction, furniture, equipment and fixtures. The award is subject to City Council approving the rezoning application at its Aug. 19 meeting. 2014-07-15T16:10:00+00:00 http://www.virginiabusiness.com/news/article/marine-and-industrial-products-manufacturer-to-locate-in-virginia-beach Marine and industrial products manufacturer to locate in Virginia Beach http://www.virginiabusiness.com/news/article/marine-and-industrial-products-manufacturer-to-locate-in-virginia-beach http://www.virginiabusiness.com/news/article/marine-and-industrial-products-manufacturer-to-locate-in-virginia-beach#When:15:51:00Z A Canadian marine and industrial products manufacturer is planning to open its first U.S. Location in Virginia Beach, creating 70 new jobs over three years. Canada Metal (Pacific) Ltd., based in Vancouver, will invest $3 million on the project on Horse Pasture Road, according to the governor's office. “Virginia Beach came out ‘head and shoulders’ above all other locations due to its highly skilled labor force, excellent logistics, and, most importantly, having a culture that personifies our desire to be fully integrated within the community in which we conduct our business," Jim Stuart, vice president of business development for Canada Metal, said in a statement. The company will be eligible for sales and use tax exemptions on manufacturing equipment. 2014-07-15T15:51:00+00:00 http://www.virginiabusiness.com/news/article/vanguard-furniture-plans-to-bring-more-than-200-jobs-to-carroll-county Vanguard Furniture plans to bring more than 200 jobs to Carroll County http://www.virginiabusiness.com/news/article/vanguard-furniture-plans-to-bring-more-than-200-jobs-to-carroll-county http://www.virginiabusiness.com/news/article/vanguard-furniture-plans-to-bring-more-than-200-jobs-to-carroll-county#When:15:00:00Z North Carolina-based Vanguard Furniture announced Tuesday plans to invest $550,000 in Carroll County to establish its first Virginia household furniture upholstery production operation. The move is expected to create more than 200 jobs in the area. The operation will be at Carroll County Industrial Park, Gov. Terry McAuliffe said in a statement. Vanguard Furniture is a family-owned company that employs 500 people. It currently has five manufacturing buildings in Conover, N.C., and a 40,000-square-foot showroom in High Point, N.C. The company offers high-end upholstery and case goods. 2014-07-15T15:00:00+00:00 http://www.virginiabusiness.com/news/article/townebank-to-acquire-franklin-financial-corp.-in-275-million-deal TowneBank to acquire Franklin Financial Corp. in $275 million deal http://www.virginiabusiness.com/news/article/townebank-to-acquire-franklin-financial-corp.-in-275-million-deal http://www.virginiabusiness.com/news/article/townebank-to-acquire-franklin-financial-corp.-in-275-million-deal#When:14:59:00Z Suffolk-based TowneBank plans to acquire 80-year-old, Richmond-based Franklin Financial Corp. in a deal valued at $275 million. The acquisition would create a bank with total assets of $5.9 billion and total deposits of $4.1 billion. “Our Towne family is humbled and excited to join hands with a legendary company that has served the greater Richmond community for over 80 years,” G. Robert Aston Jr.,  TowneBank’s chairman and CEO said in a statement, describing the deal as a “great foundation” for the bank’s entry into the Richmond market. Franklin Financial, the parent company of Franklin Federal, had assets of $1.1 billion on March 31, the end of the first quarter. TowneBank, which began operation in 1999, had $4.78 billion in assets at the end of March. It operates 28 branches in Hampton Roads and Northeastern North Carolina. “I expect this combination to provide appreciable long-term value for our respective shareholders, and it will enable the combined institution to provide a much greater line of products to Franklin Federal’s current customers,” Richard T. Wheeler, Jr., the chairman, president and CEO of Franklin Financial, said in a statement. Under the terms of the deal, Franklin shareholders will receive 1.40 shares of TowneBank common stock for each common share of Franklin. Based on TowneBank’s closing stock price of $16.46 on Monday, the deal is valued at $23.04 per share or $275 million. Wheeler will join TowneBank’s board of directors and executive committee while also serving on the TowneBank of Richmond board. T. Patrick Collins has been named president and CEO of TowneBank of Richmond. 2014-07-15T14:59:00+00:00 http://www.virginiabusiness.com/news/article/dyncorp-names-new-ceo DynCorp names new CEO http://www.virginiabusiness.com/news/article/dyncorp-names-new-ceo http://www.virginiabusiness.com/news/article/dyncorp-names-new-ceo#When:20:04:00Z Delta Tucker Holdings Inc., the parent of DynCorp International Inc., has named S. Gordon Walsh as its new CEO. The appointment is effective on July 21. The company said Walsh has more than two decades of experience in aerospace and defense services, including executive positions with L-3 Communications and Lockheed Martin. Walsh replaces Steven F. Gaffney, who served as CEO from August 2010 until this month. 2014-07-14T20:04:00+00:00 http://www.virginiabusiness.com/uploads2/NGPICS.jpg Left to right: Mark A. Caylor and Stephen C. Movius http://www.virginiabusiness.com/companies/article/northrop-grumman-executives-expanding-roles Northrop Grumman executives expanding roles http://www.virginiabusiness.com/companies/article/northrop-grumman-executives-expanding-roles http://www.virginiabusiness.com/companies/article/northrop-grumman-executives-expanding-roles#When:19:24:00Z                Two Northrop Grumman executives are expanding their roles at the Falls Church-based company.                 Mark A. Caylor is now Northrop Grumman’s corporate vice president, president of Enterprise Services and chief strategy officer. He previously was the company’s corporate vice president and president of Enterprise Shared Services. In his new role, he will continue to lead that organization as well as Northrop Grumman’s corporate development and supply chain functions.                 Starting Aug. 1, Stephen C. Movius will be Northrop Grumman’s corporate vice president and treasurer. Movius is currently the company’s vice president of investor relations. He will add the treasurer role to his investor relations responsibilities. Movius will succeed Prabu Natarajan as treasurer. Natarajan will become CFO of the company's Information Systems sector.                 Caylor continues to report to Northrop Grumman’s President and CEO Wes Bush. Movius will report to James F. Palmer, the company’s corporate vice president and CFO.                  Photo courtesy Northrop Grumman 2014-07-14T19:24:00+00:00 http://www.virginiabusiness.com/uploads2/200-Stovall-Street--2461-Eisenhower-Ave.jpg http://www.virginiabusiness.com/news/article/department-of-defense-renews-lease-for-606575-square-feet-in-alexandria Department of Defense renews lease for 606,575 square feet in Alexandria http://www.virginiabusiness.com/news/article/department-of-defense-renews-lease-for-606575-square-feet-in-alexandria http://www.virginiabusiness.com/news/article/department-of-defense-renews-lease-for-606575-square-feet-in-alexandria#When:19:10:00Z On behalf of the U.S. Department of Defense, the U.S. General Services Administration (GSA) has signed a lease renewal for 606,575 square feet at Hoffman Tower II in Alexandria. “This is the largest lease in the Washington, D.C., region in 2014, and is one of the top five in the region in the last five years,” Brendan Owen, chairman of the Asset Services Group for Newmark Grubb Knight Frank (NGKF) said in a statement. He and NGKF Principal Scott Johnston represented the owner, The Hoffman Co., while CBRE represented the government. “The Department of Defense has occupied the site for more than 30 years, and more recently has modernized the building, including energy efficiency upgrades,” said Owen. Hoffman Tower II is part of Hoffman Town Center, an urban mixed-use development in central Alexandria, developed by The Hoffman Co. Located adjacent to the Eisenhower Avenue Metro Station and within three blocks of the U.S. Federal District Courthouse, Hoffman Town Center represents the potential for more than 5million square feet of office, retail and residential space on 54 acres. The transaction comes after USAA Real Estate Co. purchased the two-acre development site for the new headquarters of the National Science Foundation (NSF), which signed a 704,571-square-foot, pre-construction lease last summer. Owen represented The Hoffman Co. in the land sale in April. Other notable activity at Hoffman Town Center includes the recently renovated Hoffman Tower I. The Class A building recently completed a multi-million dollar renovation that preserved the concrete super-structure while  adding such amenities as a new façade, upgraded lobby, a tenant-only fitness center and conference center. Owen also is marketing a multifamily parcel in the center known as Block 11, where grocer Harris Teeter has committed to the retail base of the proposed development. The new store is within walking distance of the three office buildings and will complement the Hoffman Town Center’s retail amenities. "The opportunities are part of fulfilling Mr. Hoffman's original concept of creating a vibrant, self-sustaining and integrated community in Alexandria that is a hub of daytime and evening activity," Owen said 2014-07-14T19:10:00+00:00 http://www.virginiabusiness.com/news/article/assisting-living-facility-in-manassas-sells-for-14.1-million Assisting living facility in Manassas sells for $14.1 million http://www.virginiabusiness.com/news/article/assisting-living-facility-in-manassas-sells-for-14.1-million http://www.virginiabusiness.com/news/article/assisting-living-facility-in-manassas-sells-for-14.1-million#When:15:50:00Z Capitol Seniors Housing has purchased Sudley Manor House, a 78-bed assisted living and memory care community in Manassas, for $14.1 million. According to Avison Young, which negotiated the sale, Capitol was among more than a dozen investors that submitted offers for the property at 7750 Garner Drive. Capitol Seniors Housing, based in Washington, D.C, says on its website that it has acquired or developed more than 40 seniors housing communities.The company is a joint venture operating partner with one of the largest university endowments in the United States, and it also partners with The Carlyle Group, a $157 billion global asset manager based in Washington. “The great interest we received from REITS, fund advisors and regional operators demonstrates the tremendous interest in well-located, senior housing communities,” Matthew Clinebell, a principal with Avison Young, said in a statement. The sale is the second seniors housing transaction brokered by Avison Young in the past six months. According to the commercial real estate services company, the new owner plans an extensive capital improvement program to update the facility and will retain The Arbor Co. to operate the community. The seller is American Senior Living LC, the facility’s original developer. 2014-07-14T15:50:00+00:00 http://www.virginiabusiness.com/news/article/medalist-properties-in-richmond-buys-roanoke-apartment-complex-for-13-milli Medalist Properties in Richmond buys Roanoke apartment complex for $13 million http://www.virginiabusiness.com/news/article/medalist-properties-in-richmond-buys-roanoke-apartment-complex-for-13-milli http://www.virginiabusiness.com/news/article/medalist-properties-in-richmond-buys-roanoke-apartment-complex-for-13-milli#When:14:53:00Z Medalist Properties, a Richmond-based real estate fund, purchased Westwind I and II, a 288-unit apartment complex in Roanoke, for $13 million. The community, located on 13 acres, was built in two phases in 1981 and 1985. Sam Worley and Ryan Fanelli of Commonwealth Commercial Partners LLC in Henrico County represented the seller, HHHunt. Bill Elliott, co-president of Medalist, said in an interview that the property was consistent with the company’s investment strategy. It buys diverse product types, including class B apartments, in secondary and tertiary markets through the Southeast. “The icing on the cake is that the seller, HHHunt, has kept the property impeccably maintained,” Elliott said. In addition, he added, Roanoke enjoys a steady economy and is seeing lots of renovation in the downtown area and around the Virginia Tech Carillion School of Medicine and Research Institute. 2014-07-14T14:53:00+00:00 http://www.virginiabusiness.com/uploads2/waterfront.jpg http://www.virginiabusiness.com/news/article/alexandria-office-buildings-sell-for-31.5-million Alexandria office buildings sell for $31.5 million http://www.virginiabusiness.com/news/article/alexandria-office-buildings-sell-for-31.5-million http://www.virginiabusiness.com/news/article/alexandria-office-buildings-sell-for-31.5-million#When:14:17:00Z Bethesda, Md.,-based Finmarc Management Inc. has purchased Waterfront Center I and II in Alexandria for $31.5 million. The two adjacent office buildings are located at 801 N. Fairfax St. and 209 Madison St. Totaling 148,480 square feet, Waterfront Center is located a block from the Potomac River, within a five-minute drive of Ronald Reagan National Airport and 10 minutes from Washington, D.C.’s Central Business District. Currently 69 percent leased, the center provides Finmarc the opportunity to create value in the short term through the lease-up of the buildings’ existing vacancy, while providing long-term redevelopment opportunities. “The transaction achieved the strategic goals of both parties,” Gerry Trainor, executive managing director at Transwestern, said in a statement. “Finmarc adhered to its value-add strategy with the acquisition, which was accomplished through a 1031 exchange.” Transwestern represented both the buyer and seller in the transaction, with the seller, Gates Hudson, assisting in its own representation. Transwestern’s Institutional Commercial Group focuses on investment services throughout the Washington, D.C. region. Finmarc’s portfolio includes more than 5 million square feet of space in the mid-Atlantic region. 2014-07-14T14:17:00+00:00 http://www.virginiabusiness.com/news/article/ceos-cite-talent-recruitment-as-major-concern CEOs cite talent recruitment as major concern http://www.virginiabusiness.com/news/article/ceos-cite-talent-recruitment-as-major-concern http://www.virginiabusiness.com/news/article/ceos-cite-talent-recruitment-as-major-concern#When:20:49:00Z Central Virginia CEOs say recruiting and keeping talent is a big concern, according to a recently released survey. The second quarter 2014 CEO Economic Outlook survey by the University of Richmond’s Robins School of Business and the Virginia Council of CEOs found that companies are particularly concerned about finding people for sales, marketing and information technology. The survey interviewed the chief executives of 87 small and midsized companies. Seventy percent of respondents said staffing is a significant issue. Finding, recruiting and retaining sales talent was identified as a significant challenge by 25.3 percent of CEOs. The search for operational talent was cited as a challenge by 16.1 percent of respondents, while 14.9 percent cited marketing talent as an issue. The other categories of talent noted as challenges by more than 10 percent of respondents were engineering, information technology and general management. If their talent concerns were resolved, more than half of the CEOs (51.7 percent) expected growth of 11 percent or more. In fact, 17.2 percent of CEOs expected revenue growth of more than 20 percent if they could solve their staffing issues. The median annual revenue for CEOs responding was $3.1 million. The companies had a median workforce of 20 employees. 2014-07-11T20:49:00+00:00 http://www.virginiabusiness.com/uploads2/RADFORD.jpg An architectural rendering of the new CHBS building. | Photo courtesy Radford. http://www.virginiabusiness.com/news/article/construction-begins-on-radfords-college-of-humanities-and-behavioral-scienc Construction begins on Radford’s College of Humanities and Behavioral Sciences http://www.virginiabusiness.com/news/article/construction-begins-on-radfords-college-of-humanities-and-behavioral-scienc http://www.virginiabusiness.com/news/article/construction-begins-on-radfords-college-of-humanities-and-behavioral-scienc#When:19:16:00Z               Radford University (RU) has begun construction on its $52.8 million College of Humanities and Behavioral Sciences Building, the college announced this week. The 143,600-square-foot building, which will house several of RU’s academic departments, is scheduled to be completed in 2016.                 The departments moving into the building include communications, criminal justice, psychology, sociology, political science, English, foreign languages, history, philosophy & religious studies, and the office of the dean. The departments currently are housed in seven buildings. To make way for the new building, demolition of Lucas Hall began July 9. The 85-year-old structure most recently served as the College of Graduate and Professional Studies. The university says the new building will incorporate wood flooring salvaged from Lucas Hall.                 The College of Humanities and Behavioral Sciences Building will include a courtyard, a 90-seat classroom, moot courtroom with adjacent classroom, television studio, forensic laboratory and an emergency operations training center that will double as RU's emergency operations center if necessary. 2014-07-11T19:16:00+00:00 http://www.virginiabusiness.com/news/article/ferguson-is-relocating-its-national-sales-center-to-hampton Ferguson is relocating its national sales center to Hampton http://www.virginiabusiness.com/news/article/ferguson-is-relocating-its-national-sales-center-to-hampton http://www.virginiabusiness.com/news/article/ferguson-is-relocating-its-national-sales-center-to-hampton#When:16:40:00Z Newport News-based plumbing distributor Ferguson is relocating its national sales center to the Hampton Roads Center in Hampton. The move could bring as many as 350 jobs to Hampton in the next three years, city officials said. Ferguson also plans to build a new distribution center in Coxsackie, N.Y., and has leased property for a regional distribution hub in Secaucus, N.J. The two facilities, which will support the company’s metro New York and Northeast branches, will have almost 1 million square feet of warehouse space. In a statement, Ferguson CEO Frank Roach, said the company's national sales center had outgrown its current space in Newport News. The center provides assistance to customers placing orders or looking for product information. The relocated sales center - with 144 employees currently – is scheduleded to open sometime this fall. Company officials expect to hire 79 new employees in the next 12 months and another 92 in 2015. The current sales center, which is next to the company headquarters, will be used for other business needs. The new 460,000-square-foot distribution center in Coxsackie, about 100 miles north of New York City, will create 95 jobs. Groundbreaking is scheduled for mid-August with completion expected in summer 2015. The Secaucus shipping hub involves 450,000 square feet of warehouse space at the site of the former Panasonic headquarters in the Harmon Cove district of the Meadowlands. Renovations are currently underway with opening expected in the first quarter of 2015. In recent months, Ferguson has made several acquisitions in New York and New Jersey including The Davidson Group, Davis & Warshow and Karl’s Appliance. Before the acquisitions, the company already had more than 100 locations in the Northeast. Founded in 1953, Ferguson is the nation’s largest wholesale distributor of residential and commercial plumbing supplies. The company has about 19,000 employees and a distribution network with approximately 1,350 locations. 2014-07-11T16:40:00+00:00 http://www.virginiabusiness.com/news/article/whole-foods-market-to-anchor-loudoun-shopping-center Whole Foods Market to anchor Loudoun shopping center http://www.virginiabusiness.com/news/article/whole-foods-market-to-anchor-loudoun-shopping-center http://www.virginiabusiness.com/news/article/whole-foods-market-to-anchor-loudoun-shopping-center#When:21:01:00Z A Whole Foods Market store will be the anchor store at Belmont Chase, a new retail development in Ashburn. Regency Centers Corp., Belmont Chase’s developer, said the 80,000-square-foot shopping center is expected to open in summer 2015. The developer said the 40,000-square-foot Whole Food Market store will be the grocery chain’s first in Loudoun County. Other tenants in the shopping center will be Cooper’s Hawk Winery and Restaurant, Cava Mezze Grill, Peet’s Coffee and Tea, and PR Fresh Look Salon. The 18-acre Belmont Chase is part of the Belmont Executive Center, at the intersection of Claiborne Parkway and Leesburg Pike (Route 7). Belmont Executive Center includes 1.2 million square feet of future office and hotel space. The center is expected to provide a gateway to Belmont Estates, a 2,137-home golf course community. 2014-07-10T21:01:00+00:00 http://www.virginiabusiness.com/uploads2/Railroad_Y_Lofts.jpg http://www.virginiabusiness.com/news/article/historic-shockoe-bottom-apartment-building-sells-for-4.5-million Historic Shockoe Bottom apartment building sells for $4.5 million http://www.virginiabusiness.com/news/article/historic-shockoe-bottom-apartment-building-sells-for-4.5-million http://www.virginiabusiness.com/news/article/historic-shockoe-bottom-apartment-building-sells-for-4.5-million#When:20:36:00Z B.R.J. Enterprises LLC has purchased the Railroad Y Loft Apartments at 1548 E. Main St. in Richmond $4.57 million. Built in 1907 near Richmond’s Main Street Station, the property once was used for railroad workers. According to CBRE, which brokered the transaction, it was redeveloped in 2013 and now consists of 30 apartments and two other rental units. The property is located east of downtown Richmond, near the James River in the city’s Shockoe Bottom district. Building amenities include granite countertops, cable and internet, washer and dryers in the units, off street parking and a local pub and restaurant on the property. CBRE|Richmond’s Craige Pelouze represented the buyer in the transaction. 2014-07-10T20:36:00+00:00 http://www.virginiabusiness.com/uploads2/00020003.jpg http://www.virginiabusiness.com/news/article/dominion-will-use-research-vessel-to-collect-data-on-offshore-wind Dominion will use research vessel to collect data on offshore wind http://www.virginiabusiness.com/news/article/dominion-will-use-research-vessel-to-collect-data-on-offshore-wind http://www.virginiabusiness.com/news/article/dominion-will-use-research-vessel-to-collect-data-on-offshore-wind#When:18:35:00Z Keep your eyes open for a 110-foot long lift vessel that will periodically be off the shore of Camp Pendleton in Virginia Beach during July. The U.S.-flagged Inez Eymard will help Dominion Virginia Power obtain core samples so it can move ahead with a proposal to build wind turbines 27 miles off the coast. The vessel will provide a stable platform for collecting samples.  As weather permits, Dominion said it will conduct borings off Camp Pendleton. The vessel’s location will range from 300 to 3,300 feet from the shoreline while collecting data for the design of the underground electric distribution line. “This proposed project provides a very interesting opportunity to develop renewable offshore wind energy for Virginia,” Paul Ruppert, senior vice-president of Business Development and Generation Construction, said in a statement. “Both the demonstration project and the commercial venture tie into our strategy of promoting a diverse generating mix that includes nuclear, natural gas, coal, hydro, solar and sustainable wind … “ The Inez Eymard, which usually works in the Gulf of Mexico, has spent the past few days working at both Camp Pendleton and at the turbine site 27 miles off the coast of Virginia Beach. Dominion has received two Department of Energy grants totaling $51 million for its wind turbine demonstration project.  If the project Is approved, the company plans to build two 6-megawatt turbines and test design features intended to lower the cost of construction, reduce maintenance and withstand hurricane-force winds. Dominion also holds the lease on 112,800 acres of commercial wind area adjacent to the demonstration project. The company intends to use lessons learned from the demonstration turbines to guide the development of up to 2,000 megawatts of wind turbine energy. To develop the demonstration project, Dominion is working with a team of national and international organizations recognized for their offshore expertise. The team includes: Alstom Power Inc., a wind turbine manufacturer and major supplier of equipment and services to the global power generation market; KBR, a global engineering, construction, and services firm with experience in offshore wind; and the state’s Department of Mines, Minerals and Energy, which will hold the lease on the demonstration site. The four borings at the turbine site will be collected about 330 feet below the ocean floor. The samples will be used to determine soil characteristics — such as composition and strength — to finalize the design of the wind turbine foundations. Near shore, the vessel has finished two borings and has nine more to complete. The samples will be used to finalize the installation plan of the underground distribution line that will run from the turbines to Camp Pendleton, where they will be connected to Dominion’s electrical grid. Each of these borings will be obtained about 80 feet below the ocean floor. Dominion still needs to obtain several regulatory approvals. Based on approval by mid-2016, major construction would occur in 2017 and the wind turbines would begin operating later that year. 2014-07-10T18:35:00+00:00 http://www.virginiabusiness.com/companies/article/tidewater-community-college-names-norfolk-campus-provost Tidewater Community College names Norfolk campus provost http://www.virginiabusiness.com/companies/article/tidewater-community-college-names-norfolk-campus-provost http://www.virginiabusiness.com/companies/article/tidewater-community-college-names-norfolk-campus-provost#When:17:14:00Z Jeffery S. Boyd, a dean at a community college in Illinois, has been named the new provost of Tidewater Community College’s Norfolk Campus. He begins his new job on Aug. 1. Boyd is currently  dean of sustainability, business and career technologies at of Elgin Community College in Illinois. As a provost, Boyd will serve as chief operating officer and lead academic and student affairs administrator of the campus. The downtown Norfolk campus serves more than 14,000 students each year. Boyd holds a doctorate in community college leadership, a master’s in education and a bachelor’s in human services. 2014-07-10T17:14:00+00:00 http://www.virginiabusiness.com/news/article/cca-industries-leases-space-in-richmonds-new-gateway-plaza CCA Industries leases space in Richmond’s new Gateway Plaza http://www.virginiabusiness.com/news/article/cca-industries-leases-space-in-richmonds-new-gateway-plaza http://www.virginiabusiness.com/news/article/cca-industries-leases-space-in-richmonds-new-gateway-plaza#When:17:09:00Z A second tenant has signed on at Gateway Plaza, downtown Richmond’s newest office tower. CCA Industries, Bill Goodwin’s holding company which has several resort properties in its portfolio, has signed a lease for an entire floor, says Larry Chapman, a partner with Clayco Realty Group, a subsidiary of Clayco, the project’s Chicago-based developer. Chapman said CCA has taken 25,000 square feet of space. It joins the anchor tenant, the McGuireWoods law firm, which has leased 205,000 square feet. Both companies will move from their current homes at One James Center on Ninth Street, right across the intersection at Eighth and Cary Streets where the new skyscraper is taking shape. “By Christmas, all the glass will be up. Tenant finishes will start in the spring and people will start moving in mid- to late summer of 2015,” Chapman said. “The goal is to be in the building for the bike race. McGuireWoods is a big sponsor of that, and they want to use the new space for that event,” added Chapman, referring to the international cycling championship bike tour that’s coming to Richmond in 2015. With two tenants, the 330,000-square-foot building is nearly 70 percent leased, Chapman said.  There’s 64,000 square feet of office space still available on the 7th, 8th, and 9th floors, along with retail space in the lobby. Rents range from $26 to $28 per square foot for office space, with the higher floors commanding the top rents. Retail space goes for $30 to $32 per square feet, with the highest rents for space right on the lobby. 2014-07-10T17:09:00+00:00 http://www.virginiabusiness.com/uploads2/FLYERIMAGE.jpg http://www.virginiabusiness.com/news/article/one-of-mid-atlantics-largest-industrial-complexes-goes-on-the-market One of mid-Atlantic’s largest industrial complexes goes on the market http://www.virginiabusiness.com/news/article/one-of-mid-atlantics-largest-industrial-complexes-goes-on-the-market http://www.virginiabusiness.com/news/article/one-of-mid-atlantics-largest-industrial-complexes-goes-on-the-market#When:16:21:00Z JLL said Thursday that its Hampton Roads office has been hired to sell or lease the International Industrial Center (ICC), an 870,000-square-foot building on a 62-acre campus in the Oceana West Industrial Park in Virginia Beach. The center is the former headquarters and distribution center for Lillian Vernon, a catalog company that departed the location in 2012 after filing for bankruptcy and being acquired by a new owner. It has been vacant since that time. "There are no other properties in the mid-Atlantic region offering this size and quality for immediate occupancy," JLL Senior Vice President Deborah Stearns said in a statement.  Stearns along with Associate Director Gregg Christoffersen and Managing Director Mark Levy will manage the assignment. Located at 2600 International Parkway, the center is positioned for a user seeking scale for manufacturing, distribution and office requirements at one site. “A national or international brand that needs an East Coast headquarters, fulfillment center or industrial logistics center,” would be a good fit, said Christoffersen. The building offers 676,000 square feet of high-bay warehouse and manufacturing space and 100,000 square feet of mezzanine area. It also contains 95,000 square feet of attached Class A office space, and features 60 dock doors with levellers, three oversized drive-in doors, 1,100 parking spaces and 50 trailer parking spaces. Located about one and a half miles from the I-264 Interchange at London Bridge Road, the location provides interstate access to the Ports of Virginia, Norfolk International Airport and Interstate 64. The site also is eligible for Foreign Trade Zone status and other state, city and port-related incentives. For instance, since it is close to Oceana Naval Air Station, a land-use conformity program there offers several incentives such as a 90 percent rebate of business license fees for 15 years for conforming users. “We think the incentives available to the right user make this a tremendous opportunity,” said Stearns. Stihl Inc. purchased the 62-acre property in 2012 for just more than $18 million according to published reports at the time. At that time, the German-based manufacturer of outdoor power equipment, which has been expanding its U. S. headquarters in Virginia Beach, said the purchase was part of a strategic plan for growth, although it had no immediate plans for the complex.     2014-07-10T16:21:00+00:00 http://www.virginiabusiness.com/uploads2/PhillyPretzelFactory1.jpg http://www.virginiabusiness.com/news/article/philly-pretzel-factory-expands-into-virginia Philly Pretzel Factory expands into Virginia http://www.virginiabusiness.com/news/article/philly-pretzel-factory-expands-into-virginia http://www.virginiabusiness.com/news/article/philly-pretzel-factory-expands-into-virginia#When:15:10:00Z The Philly Pretzel Factory, which sells soft, Philadelphia-style pretzels, is expanding into Virginia. President Marty Ferrill said the company already has opened outlets  in Walmart stores in Newport News and Mechanicsville in Hanover County , and it has plans for nine additional locations across the state. “It seems like a natural progression for us. We have a bunch of stores in the Philadelphia and New Jersey area. The next markets going south for us are Maryland and Virginia,” Ferrill said. In Virginia, Ferrill says the company is going with a smaller, nontraditional store that will be located inside of Walmarts. “The locations are all going to be placed inside Walmarts,” he said. The company’s larger stores run about 1,200 square feet.  The smaller Walmart models will be about 300 square feet. Each store will employ about seven to 10 part-time and full-time workers, Ferrill said, for a total of about 75 to 100 employees for the 11 stores. The pretzels will sell for $1.27 each, and there’s more than one version. Ferrill says customers can opt for bite-size nuggets, cinnamon twists and bacon pretzel hot dogs. “The pretzel is always the focus,” he said. The company plans new locations in Fairfax, Hampton, Glen Allen, Chesterfield County, Richmond, Colonial Heights, Chesapeake, Norfolk and Virginia Beach. Founded in 1998, Philly Pretzel Factory has more than 100 franchised locations, primarily in the Northeast. 2014-07-10T15:10:00+00:00 http://www.virginiabusiness.com/news/article/michael-son-services-buys-land-for-business-relocation Michael & Son Services buys land for business relocation http://www.virginiabusiness.com/news/article/michael-son-services-buys-land-for-business-relocation http://www.virginiabusiness.com/news/article/michael-son-services-buys-land-for-business-relocation#When:14:25:00Z Michael & Son Services has purchased 2.2 acres of land in Chesapeake from the Stanley F. Scott Revocable Trust & the Lewis P. Gibson Family Trust for $1.2 million. According to Cushman & Wakefield | Thalhimer, the Northern Virginia-based company, which provides plumbing, electrical, HVAC and remodeling services, plans to relocate a business to the site. The land consists of three tracts at 1831 English Ave., 1229 South Military Highway and 1826 Rokeby Ave. Michael & Son Services already has 22 locations, with many offices in Northern Virginia and Maryland, and locations in Norfolk, Richmond and Raleigh, N.C.. Eric Stanley of Thalhimer handled sale negotiations on behalf of the buyer. 2014-07-10T14:25:00+00:00 http://www.virginiabusiness.com/uploads2/CVA_Evzio.jpg Photo courtesy Kaleo http://www.virginiabusiness.com/news/article/evzio-now-available-in-the-u.s EVZIO now available in the U.S. http://www.virginiabusiness.com/news/article/evzio-now-available-in-the-u.s http://www.virginiabusiness.com/news/article/evzio-now-available-in-the-u.s#When:13:56:00Z Richmond-based Kaleo announced Tuesday that its handheld auto-injector for opioid overdoses is now available. Opioids include pain medicine like hydrocodone (e.g., Vicodin), oxycodone (e.g.,OxyContin, Percocet), morphine and heroin. The pharmaceutical company received approval for Evzio in April. Evzio is available by prescription to patients, family members or caregivers for suspected opioid overdose. The product delivers naloxone, a drug usually administered with a syringe to counterattack an overdose. EVZIO uses voice and visual cues to assist users through the injection process. The Centers for Disease Control and Prevention says deaths from drug overdoses have been rising steadily during the past two decades. Of the 22,810 deaths related to pharmaceutical overdoses in 2011, 74 percent involved opioid pain relievers. An opioid overdose is characterized by decreased breathing or heart rates, or loss of consciousness. 2014-07-10T13:56:00+00:00 http://www.virginiabusiness.com/companies/article/northern-virginia-technology-council-names-new-officers Northern Virginia Technology Council names new officers http://www.virginiabusiness.com/companies/article/northern-virginia-technology-council-names-new-officers http://www.virginiabusiness.com/companies/article/northern-virginia-technology-council-names-new-officers#When:21:34:00Z   The Northern Virginia Technology Council (NVTC) has announced officers for the 2014-15 fiscal year. They are: • Chair: Sudhakar Kesavan, the chairman and CEO of ICF International. • Vice chairs: Todd Stottlemyer of Acentia and Anne K. Altman of IBM Corp. • Secretary: Enrico Della Corna of PNC Bank. • Treasurer: George E. Quinn of Ernst & Young. Bobbie Kilberg is the president and CEO of Herndon-based NVTC, which is the largest technology council in the nation. 2014-07-09T21:34:00+00:00 http://www.virginiabusiness.com/news/article/huntington-ingalls-industries-plans-on-site-health-centers Huntington Ingalls Industries plans on-site health centers http://www.virginiabusiness.com/news/article/huntington-ingalls-industries-plans-on-site-health-centers http://www.virginiabusiness.com/news/article/huntington-ingalls-industries-plans-on-site-health-centers#When:21:31:00Z Newport News-based Huntington Ingalls Industries will provide on-site family health-care centers for its shipbuilding employees and their families in Virginia and Mississippi. "The establishment of these family health centers is another investment in our employees and an important step toward building a culture of health and wellness across our company," Bill Ermatinger, the company’s corporate vice president and chief human resources officer, said in a statement. "These health centers will offer personalized care with a focus on prevention and health maintenance along with full patient confidentiality and privacy." The health-care centers are scheduled to open next year. They will offer a variety of services, including primary care, an onsite pharmacy and laboratory services. The company said it has begun a major benefits strategy designed to provide its employees health and wellness options beyond primary-care physician visits. The options include Teladoc, in which employees can talk to physicians via telephone, mobile application or computer. The company also is offering a discounted rate for health care to salaried employees who attest that they do not use tobacco. Operated by a third-party vendor, the health centers will be located near the shipyards. The services will be available employees and their dependents who are covered by the Anthem health plans. Huntington Ingalls Industries’ shipbuilding divisions are Newport News Shipbuilding in Newport News and Ingalls Shipbuilding in Mississippi. 2014-07-09T21:31:00+00:00 http://www.virginiabusiness.com/news/article/cvent-is-hiring-more-than-500-people-in-2014 Cvent is hiring more than 500 people in 2014 http://www.virginiabusiness.com/news/article/cvent-is-hiring-more-than-500-people-in-2014 http://www.virginiabusiness.com/news/article/cvent-is-hiring-more-than-500-people-in-2014#When:18:29:00Z McLean-based Cvent announced plans this week  to hire more than 500 people this year.                 The cloud-based event management platform said it expects to add employees across all of its offices to support demand for its products.                   Positions  currently advertised on its Website are in McLean, Los Angeles,  London and Portland, Ore.                  According to the Website, Cvent employs more than 1,500 people around the world.  Its software is used by 187,000 event planners and hoteliers.                 The company also expects to move into bigger headquarters this year. Cvent will lease about 130,000 square feet of space in the former SAIC building at 1710 Solutions Drive in Tysons Corner. 2014-07-09T18:29:00+00:00 http://www.virginiabusiness.com/uploads2/Celeste_Spear2.jpg ABOVE: Celeste Spear. http://www.virginiabusiness.com/companies/article/att-names-director-of-retail-sales-in-virginia AT&T names director of retail sales in Virginia http://www.virginiabusiness.com/companies/article/att-names-director-of-retail-sales-in-virginia http://www.virginiabusiness.com/companies/article/att-names-director-of-retail-sales-in-virginia#When:16:18:00Z AT&T has tapped Celeste Spear to lead Virginia’s AT&T-owned retail stores. She will be based in Richmond.  She comes to the area from Atlanta, where she served as an area retail sales manager, managing eight stores.  Spear’s 14-year-career with AT&T began in a call center. Her experience includes working with outside vendors and in operations. 2014-07-09T16:18:00+00:00 http://www.virginiabusiness.com/news/article/harmony-senior-services-is-building-seven-facilities Harmony Senior Services is building seven facilities http://www.virginiabusiness.com/news/article/harmony-senior-services-is-building-seven-facilities http://www.virginiabusiness.com/news/article/harmony-senior-services-is-building-seven-facilities#When:15:40:00Z Roanoke-based Harmony Senior Services is spending $150 million constructing seven senior living communities in Virginia and South Carolina. The expansion, scheduled for completion in early 2016, will more than double the corporate footprint of the company. It currently manages six communities in Virginia. “During the recession, construction of senior housing plummeted, and yet the baby boomers population began to turn 65-plus at a rate of more than 10,000 per day,” Susan Eckert, Harmony’s president, said in a statement. “The care needs of an aging population, combined with a limited supply in new construction created a window of opportunity for us and we pushed forward to meet the growing need for senior housing in the mid-Atlantic and the Southeast regions.” The first of the seven properties —  a 90-unit assisted-living and memory-care community — is set to open in Blacksburg in early 2015. The other six communities also are underway: • A 87-unit community in Columbia, S.C. (offering assisted living and  memory care). • A 124-unit community in Richmond (independent living). • A 160-unit community in Chantilly (independent living, assisted living and memory care). • A 102-unit community in York County (assisted living and memory care). • A 174-unit community in Suffolk (independent living, assisted living and memory care). • A 180-unit community in Virginia Beach (independent living, assisted living and memory care). As the number of facilities grows, Harmony also is adding new management, including Brent D. Russell as senior vice president of operations; Rebecca Smith, vice president of sales and marketing; and Cyndi Brown-Spellman, director of clinical care. Harmony owns and operates senior living communities for Smith/Packett, a health-care development firm specializing in design, development, and financing. Founded in 2008, Harmony currently manages facilities in Roanoke, Richmond, Chester, Hampton and Fredericksburg. 2014-07-09T15:40:00+00:00 http://www.virginiabusiness.com/news/article/virginia-beach-rezones-large-tract-for-apartment-project Virginia Beach rezones large tract for apartment project http://www.virginiabusiness.com/news/article/virginia-beach-rezones-large-tract-for-apartment-project http://www.virginiabusiness.com/news/article/virginia-beach-rezones-large-tract-for-apartment-project#When:15:27:00Z The Virginia Beach City Council has approved rezoning of a large tract of land in the Princess Anne Commons area, which will allow the development of a 240-unit luxury apartment community. The Franklin Johnston Group, a Virginia Beach-based apartment development and management company, sought the rezoning on behalf of its newest venture, Southern Pines Apartments. The community will consist of 10, three-story buildings done in the style of low-country architecture. The residential buildings, together with a clubhouse and garage, will be built around two lakes that are adjacent to a golf course. Other amenities will include an infinity pool, clubhouse with 2,000-square-foot fitness club, two-lane bowling alley and lounge with 80-inch flat screen televisions. The apartments will offer 9-foot ceilings, center islands, stainless-steel appliances, granite countertops and ceramic floors. Franklin Johnson said rents would begin at just over $1,100 per month.  A groundbreaking is scheduled for spring of 2015 with first tenant move-ins expected the end of next year. Tom Johnston, chief development officer of Franklin Johnston Group, cited the Princess Anne and Courthouse areas’ rapid growth and residential housing demands as reasons for the rezoning and construction of Southern Pines.  “The Courthouse and Princess Anne corridor area is without a doubt the most dynamic spot in our region right now,” he said in a statement.  “Quality rental housing has not kept pace with the new employment created at the health care complex, educational institutions, and retail and office space in the area.“ Southern Pines is the third new community announced by FJG in Hampton Roads this year.  In May, the company announced two affordable living communities in Norfolk: The Crossings at Berkley Station, a 156-unit gated apartment community and The Pointe at Pickett Farm, a 300-unit apartment community.  The estimated investment of the three communities is more than $100 million. 2014-07-09T15:27:00+00:00 http://www.virginiabusiness.com/companies/article/advance-auto-parts-names-senior-vice-president Advance Auto Parts names senior vice president http://www.virginiabusiness.com/companies/article/advance-auto-parts-names-senior-vice-president http://www.virginiabusiness.com/companies/article/advance-auto-parts-names-senior-vice-president#When:15:09:00Z David Allen has been named senior vice president, supply chain management, at Roanoke-based Advance Auto Parts. Allen’s responsibilities will include the integration of Advance’s supply chain with Carquest, the brand of General Parts International Inc. (GPI) Advance acquired GPI in a $2 billion deal that closed in January. Allen will report to Charles Tyson, executive vice president, merchandising, marketing and supply chain, and will be based in Raleigh, N.C., GPI’s former headquarters. Before  joining Advance, Allen was senior operations executive for Del Monte Foods, Dell Inc., and Frito-Lay North America.  Recently, Allen also has been an operating partner for TriPointe Capital Partners, an investment firm in distribution companies. 2014-07-09T15:09:00+00:00 http://www.virginiabusiness.com/news/article/ll-will-market-large-infill-tract-near-bon-air-in-chesterfield-county JLL will market large infill tract near Bon Air in Chesterfield County http://www.virginiabusiness.com/news/article/ll-will-market-large-infill-tract-near-bon-air-in-chesterfield-county http://www.virginiabusiness.com/news/article/ll-will-market-large-infill-tract-near-bon-air-in-chesterfield-county#When:14:57:00Z JLL has been hired to market Parkway Crossings at Bon Air, a nearly 170-acre infill tract located at a key intersection in Chesterfield County. The property is situated at the intersection of Chippenham (VA-150) and Powhite (VA-76) parkways, about eight miles southwest of Richmond's central business district in suburban Bon Air. The large tract is adjacent to several major medical and retail projects, including the 1.4 million-square-foot Boulders Office Park, HCA’s 466-bed Chippenham Hospital, the 100-acre Powhite Park, Chippenham Forest Square and The Shops at Stratford Hills shopping center. It is owned by HMK LLC and is part of the holdings of Jonathan Perel, a Richmond resident and owner of the General Service Corp. property management firm. Perel has tried to develop the tract before, but ran into objections from residents in the nearby Crestwood Farms subdivision who raised concerns that a new road network would impact  the area's wetlands and their home values. According to JLL, the property can be used for mixed-use development, with substantial density in retail, office, hospitality, health-care and residential uses, providing large-scale developers with an opportunity to bring multiple uses to the region at a singular location. “This site is an important, visible and entitled in-fill opportunity with attractive features, demographics and accessibility that support a variety of uses. Richmond has embraced the national trend of mixed-use development … We expect strong, widespread interest from developers,” JLL’s Gareth Jones, a senior associate, said in a statement. Parkway Crossings at Bon Air is divided into three parcels. The largest one is 106 acres to the north of Powhite Parkway and fronting Chippenham Parkway. A second 50-acre parcel fronts Chippenham Parkway south of Powhite Parkway, and is bounded by Jahnke Road. The third parcel consists of the two remaining tracts — 11 and five acres, respectively — at either side of the entrance to the Boulders Office Park at Boulders Parkway and Jahnke Road. Greg Ferrante, senior vice president, and Jones will lead the assignment for JLL. 2014-07-09T14:57:00+00:00 http://www.virginiabusiness.com/uploads2/RU_Nursing_Art1.jpg http://www.virginiabusiness.com/news/article/radford-university-partners-with-virginia-community-college-system-on-nursi Radford University partners with Virginia community college system on nursing degree http://www.virginiabusiness.com/news/article/radford-university-partners-with-virginia-community-college-system-on-nursi http://www.virginiabusiness.com/news/article/radford-university-partners-with-virginia-community-college-system-on-nursi#When:19:53:00Z Radford University President Penelope W. Kyle has signed a guaranteed admissions agreement for nursing with the Virginia Community College System (VCCS). The agreement will provide a pathway for the community college system’s Applied Science in Nursing graduates to earn a bachelor's of science in nursing  (BSN) degree from Radford. "We are pleased to partner with VCCS to provide this educational opportunity for its students and the commonwealth's future nurses," Kyle said in a statement. "Together, we can develop a highly-educated nursing workforce to meet Virginia's focus on serving and providing the highest quality health care to our communities." Radford University's BSN program provides online learning opportunities for students, including those who are graduates of community colleges and are licensed RNs.  The curriculum accommodates nurses who are employed or involved with family, community and other responsibilities.  The program enrolled more than 30 students in 2013, and aspires to double that enrollment in three years. Under the new agreement, the program will begin admitting the first community college students this fall. Upon completion of an associate degree, students at one of the state's 23 community colleges will be granted admission into the Radford program.  Once accepted, students will complete 26 credits and may be awarded 56 credits for prior learning and work experience.  Up to 51 transfer credits are awarded towards the core curriculum requirements for a bachelors of science in nursing degree, thus completing a total of 133 semester hours at the baccalaureate level. 2014-07-08T19:53:00+00:00 http://www.virginiabusiness.com/news/article/gannett-acquires-texas-tv-stations Gannett acquires Texas TV stations http://www.virginiabusiness.com/news/article/gannett-acquires-texas-tv-stations http://www.virginiabusiness.com/news/article/gannett-acquires-texas-tv-stations#When:19:12:00Z It’s official. McLean-based Gannett has acquired six television stations in Texas for $215 million in cash. With this acquisition, Gannett says it will reach 83 percent of households in the Lone Star State. The deal includes KCEN (NBC) in Waco-Temple-Bryan, KYTX (CBS) in Tyler-Longview, KIII (ABC) in Corpus Christi, KBMT (ABC) and its digital sub-channel KJAC (NBC) in Beaumont-Port Arthur, KXVA (FOX) in Abilene-Sweetwater and KIDY (FOX) in San Angelo. Phil Hurley, London Broadcasting Co.’s chief operating officer, will continue to lead the six stations. He will report to Dave Lougee, president of Gannett Broadcasting. Gannett’s properties include broadcast, digital, mobile and publishing platforms . 2014-07-08T19:12:00+00:00 http://www.virginiabusiness.com/uploads2/Untitled1.png http://www.virginiabusiness.com/news/article/daniel-building-sells-for-2.7-million-in-richmond Daniel Building sells for $2.7 million in Richmond http://www.virginiabusiness.com/news/article/daniel-building-sells-for-2.7-million-in-richmond http://www.virginiabusiness.com/news/article/daniel-building-sells-for-2.7-million-in-richmond#When:18:55:00Z The Daniel Building, a 67,000-square-foot office building situated on a 1.2-acre site on Cutshaw Avenue in Richmond, has sold for $2.7 million. According to Cushman & Wakefield | Thalhimer, the new owner, Daniel Building LLC, a subsidiary of C. A. Harrison Cos. out of Washington, D.C., plans to redevelop the building into a 66-unit apartment project. Mac Wilson and Brian K. Berkey of Thalhimer handled sale negotiations on behalf of the seller. 2014-07-08T18:55:00+00:00 http://www.virginiabusiness.com/uploads2/Regal_Center_Photo1.jpg http://www.virginiabusiness.com/news/article/rock-creek-property-group-sells-regal-center-in-sterling-for-18.2-million Rock Creek Property Group sells Regal Center in Sterling for $18.2 million http://www.virginiabusiness.com/news/article/rock-creek-property-group-sells-regal-center-in-sterling-for-18.2-million http://www.virginiabusiness.com/news/article/rock-creek-property-group-sells-regal-center-in-sterling-for-18.2-million#When:18:49:00Z   Rock Creek Property Group has sold  Regal Center, a 52,500-square-foot shopping center in Sterling, to The Regal Center LLC/Bernstein Management Group Inc. for $18.2 million, or about $347 per square foot. The transaction closed on June 30. Washington, D.C.-based Rock Creek owned the center, adjacent to the 20-screen Regal Cinemas on Route 7, for about nine years. The center is anchored by national tenants including Domino’s, 7-Eleven, Firehouse Subs and BB&T.  There also is a mix of regional tenants such as sweetFrog Yogurt, O’Faolains Irish Pub, Cheng’s Oriental Restaurant and Old Virginia Tobacco Co. “This asset has really stood the test of time,” Gary Schlager, a partner with Rock Creek Property, said in a statement. “The tenant mix we assembled over the years is very complementary, and the leases were well stabilized when we decided to sell the property.” Rock Creek’s sale of Regal Center comes two weeks after the firm sold 5185 MacArthur Blvd. NW in D.C.  for $14.9 million. That deal followed the firm’s acquisition of a prime development site at 7th and H Streets NE in D.C. where Rock Creek and a joint venture partner, Cornerstone Development Group, plan to build residential condominiums with ground-floor retail space. Rock Creek Property Group, founded in 2002, owns a diverse portfolio of office, industrial, multi-family and retail properties in the mid-Atlantic region.   2014-07-08T18:49:00+00:00 http://www.virginiabusiness.com/news/article/commonwealth-center-for-advanced-manufacturing-adds-industrial-member Commonwealth Center for Advanced Manufacturing adds industrial member http://www.virginiabusiness.com/news/article/commonwealth-center-for-advanced-manufacturing-adds-industrial-member http://www.virginiabusiness.com/news/article/commonwealth-center-for-advanced-manufacturing-adds-industrial-member#When:15:17:00Z Spatial Integrated Systems Inc. has become the newest member of the Commonwealth Center for Advanced Manufacturing (CCAM), a Prince George-based collaborative research organization. Based in Virginia Beach, Spatial Integrated Systems provides digital imaging hardware, software and modeling systems to the Department of Defense and commercial customers. Its applications include command centers and facial recognition equipment. In joining CCAM as its 19th industrial member , Spatial Integrated Systems will provide it with digital 3-D equipment and software including the 3D Imaging System used by commercial and military equipment manufacturers.  “As an innovator of 3D imaging and visualization, Spatial Integrated Systems serves the defense industry and commercial manufacturers with a unique set of process-based solutions,” Joseph Moody, CCAM’s president and executive director, said in a statement,.  “CCAM member companies and academic and government partners will benefit from these game-changing technologies.” CCAM member companies and its academic and government partners collaborate on research on  innovative manufacturing practices for aerospace, defense, transportation, consumer electronics and other industries. Other CCAM industry and government members include Canon Virginia Inc., Chromalloy, Newport News Shipbuilding, Rolls-Royce, Sandvik Coromant, Siemens, Sulzer Metco, Aerojet Rocketdyne, Blaser Swisslube, Hermle Machine Co., Mitutoyo, Paradigm Precision, Buehler, Cool Clean Technologies, GF AgieCharmilles, Mechdyne, National Instruments and NASA Langley Research Center. Its academic partners are the University of Virginia, Virginia State University, Virginia Tech and Old Dominion University. 2014-07-08T15:17:00+00:00 http://www.virginiabusiness.com/companies/article/u.va.-official-named-to-kaiser-boards U.Va. official named to Kaiser boards http://www.virginiabusiness.com/companies/article/u.va.-official-named-to-kaiser-boards http://www.virginiabusiness.com/companies/article/u.va.-official-named-to-kaiser-boards#When:19:30:00Z   Dr.  Richard Shannon, executive vice president for health affairs at the University of Virginia, has joined the boards of directors of the Oakland-based Kaiser Foundation Hospitals and Kaiser Foundation Health Plan Inc. Before joining the University of Virginia Health System, Shannon was the Frank Wister Thomas Professor and chair of the Department of Medicine at the University of Pennsylvania Perelman School of Medicine. He also served as chair of the Department of Medicine at Allegheny General Hospital in Pittsburgh. Shannon holds a bachelor of arts degree from Princeton University and earned his medical degree at the University of Connecticut School of Medicine. Kaiser Foundation Hospitals and Kaiser Foundation Health Plan are part of Kaiser Permanente, which  serves about 9.3 million members in eight states and the District of Columbia. 2014-07-07T19:30:00+00:00 http://www.virginiabusiness.com/news/article/microtech-sells-visual-communications-division-to-unicom MicroTech sells visual communications division to UNICOM http://www.virginiabusiness.com/news/article/microtech-sells-visual-communications-division-to-unicom http://www.virginiabusiness.com/news/article/microtech-sells-visual-communications-division-to-unicom#When:18:57:00Z MicroTech, a contractor based in Vienna, announced Monday the sale of its visual communications division to UNICOM Government Inc. which has facilities in and around Herndon. Terms of the deal were not disclosed. MicroTech’s visual communications division is located in Greensboro, N.C.  The acquisition includes a patented secure switching technology that powers sensitive systems throughout government and commercial installations. The North Carolina facility includes an integration center and logistics operation and staffs an in-house lab for the design, test and integration of audio, video, voice and presentation technologies. The facility also includes a 24/7 call center. MicroTech is a contractor on more than 100 federal projects. Founded in 2004, the company provides technology integration, telecom solutions, network systems, cloud computing, product support and managed service solutions. UNICOM Government Inc. is a division of UNICOM  Global. 2014-07-07T18:57:00+00:00 http://www.virginiabusiness.com/news/article/marketplace-at-tech-center-is-70-percent-leased Marketplace at Tech Center is 70 percent leased http://www.virginiabusiness.com/news/article/marketplace-at-tech-center-is-70-percent-leased http://www.virginiabusiness.com/news/article/marketplace-at-tech-center-is-70-percent-leased#When:15:52:00Z Marketplace at Tech Center, a mixed-use lifestyle center at Jefferson Avenue and Oyster Point Road in Newport News, is 70 percent leased as more first-to-market retailers sign on at the new project. Marketplace is the retail component of Tech Center at Oyster Point, a $250 million, development on 100 acres. It’s also turning out to be the site of several stores and restaurants that are new to the Virginia Peninsula. “The availability of this much acreage on one of the busiest intersections in Hampton Roads, coupled with the ability to intermix an upscale marketplace with high-end apartments and specialty office space, all on one site, provides an unparalleled opportunity for retailers in this market,” Erica Meekins Rorrer, a vice president of retail for Divaris Real Estate Inc. said in a statement. According to Divaris, Whole Foods has helped attract the tenant line up.  “Many more exciting retailers will be announced in months to come,” said Gerald Divaris, chairman and CEO of Divaris Real Estate.  So far, these “first-to-market” retailers (with the exception of those that have outlet stores in Williamsburg) include: Whole Foods – 35,000 square feet of retail space DSW Shoe Warehouse – 18,062 square feet of retail space BJ’s Brewhouse – 7,400 square feet of retail space PF Chang’s China Bistro – 6,400 square feet of retail space Carters - 3,915 square feet of retail space Café Rio – 3,000 square feet of retail space OshKosh B’gosh – 3,040 square feet of retail space Zoe’s Kitchen – 2,600 square feet of retail space Avalon Spa – 1,200 square feet of retail space Other retailers who have signed leases to join Tech Center include: Stein Mart – 32,000 square feet of retail space ULTA Salon, Cosmetics and Fragrances – 11,000 square feet of retail space Five Below – 7,854 square feet of retail space Massage Envy – 3,640 square feet of retail space Navy Federal Credit Union – 3,500 square feet of retail space Starbucks – 1,950 square feet of retail space Jimmy Johns Gourmet Sandwiches – 1,600 square feet of retail space Hair Cuttery – 1,200 square feet of retail space Conte’s Bike Shop – 2,000 square feet of retail space The master plan for Tech Center at Oyster Point includes 230,000 square feet of retail, 290 luxury apartment homes and 30,000 square feet of specialty office space. This is in addition to the adjacent research park planned around The Thomas Jefferson National Accelerator Facility (a.k.a. Jefferson Lab), a federally funded U.S. laboratory. Ultimately, the research park could have up to 1.3 million square feet of office space in up to 15 buildings. More than 148,000 square feet of the retail space, or 70 percent, was leased prior to March ground breaking.  Divaris’ focus now is on leasing small shop space. The retail portion should celebrate its grand opening in July 2015. 2014-07-07T15:52:00+00:00 http://www.virginiabusiness.com/news/article/jlls-hampton-roads-office-reports-transactions-totaling-more-than-334000-sq JLL’s Hampton Roads office reports transactions totaling more than 334,000 square feet http://www.virginiabusiness.com/news/article/jlls-hampton-roads-office-reports-transactions-totaling-more-than-334000-sq http://www.virginiabusiness.com/news/article/jlls-hampton-roads-office-reports-transactions-totaling-more-than-334000-sq#When:14:11:00Z JLL’s Hampton Roads office has completed several recent transactions totaling more than 334,880 square feet. The largest transaction was a 45,663-square-foot office/warehouse lease for Valkyrie Enterprises at 3800 Village Drive in Norfolk. Maureen Rooks of JLL represented the tenant in this transaction. In other tenant deals: L&W Supply Corp. renewed its 31,471-square-foot lease at 401 E St. in a Hampton. Rooks and Gregg Christoffersen of JLL represented the tenant. Harrison's Moving & Storage extended its 30,008-square-foot lease at 1400 Cavalier Blvd. in Chesapeake. Erin Corrie, Christoffersen and Mark Levy of JLL represented the tenant. Troutman Sanders renewed its lease for 26,966 square feet at the Armada Hoffler Tower at 222 Central Park Ave. in Virginia Beach.  Rooks and Deborah Stearns of JLL represented the tenant. Serco Inc. leased 23,646 square feet at 2115 Portlock Road in Chesapeake. Christoffersen  represented the tenant.   Under landlord representation, Pioneer Photos renewed its 43,000-square foot-lease at 1400 Cavalier Blvd. (Bay Warehouse) in Chesapeake. Mark Levy, Erin Corrie and Gregg Christoffersen  represented the landlord, Indcor, in this transaction. AmeriComm renewed its 35,728-square-foot lease at 804 Greenbrier Circle in Chesapeake.  Wesley Edwards of JLL represented the landlord, Waggoner Greenbrier Properties LLC. . 2014-07-07T14:11:00+00:00 http://www.virginiabusiness.com/uploads2/image003.jpeg http://www.virginiabusiness.com/news/article/jcr-cos.-buys-retail-space-at-lorton-station-town-center JCR Cos. buys retail space at Lorton Station Town Center http://www.virginiabusiness.com/news/article/jcr-cos.-buys-retail-space-at-lorton-station-town-center http://www.virginiabusiness.com/news/article/jcr-cos.-buys-retail-space-at-lorton-station-town-center#When:14:04:00Z     The JCR Cos. has acquired 51,800 square feet of retail space at Lorton Station Town Center for $13.8 million. The center, which occupies the ground-floor area directly above the Virginia Railway Express (VRE) commuter train station, was sold by Regency Centers. According to JCR, the space is totally leased to 19 local, regional, and national tenants including Wells Fargo, Fireside Grill, Subway, Pan e Vino, FedEx and others. The center is part of a mixed-use project with more than 170,000 square feet of office and commercial space and nearly 1,200 single-family homes, townhomes, condominiums, and apartments. “We are excited about the growth of the Lorton area and the strong year-over-year ridership increases at the Lorton VRE Station,” Joe Reger, managing partner of the JCR Cos., said in a statement. He added that JCR plans to reposition about 7,000 square feet of the retail space that is leased but currently vacant, and hold the property for the long term. Cantor Commercial Real Estate financed JCR’s acquisition. Founded in 2009, Arlington-based JCR is one of the most prolific buyers of urban retail, multifamily, office and mixed-use properties in the Washington, D.C., area. Its portfolio of 16 properties includes retail space in the 14th Street corridor and apartment buildings in northwest Washington. 2014-07-07T14:04:00+00:00 http://www.virginiabusiness.com/opinion/article/ceo-pay-should-we-worry CEO pay: Should we worry? http://www.virginiabusiness.com/opinion/article/ceo-pay-should-we-worry http://www.virginiabusiness.com/opinion/article/ceo-pay-should-we-worry#When:17:57:00Z During the plast year, the political class has raised income inequality as an issue either to be embraced as a verification that the United States is not (or should not) be more socialistic, but should stay a primarily capitalistic economy. Superior skill and talent should be rewarded. Others, however, point to a related issue: the middle class is declining with a big chasm between the upper 1 percent and the lower 99 percent, which is not favorable based upon criterion of equity. CEO pay is a subset of the broader issue of income equality. So what are the facts related to CEO and employee pay? For 2013, the median pay of a public corporation CEO rose to more than $10 million, according to an Associated Press/Equilar pay study. This is an increase of 50 percent from the depths of the recent Great Recession in 2008 and is 257 times the pay of the average worker now, the highest to date. One of the criticisms of CEO pay has been the need for a stronger linkage between CEO pay and performance. There have been changes regarding CEO pay, with a greater portion of compensation being in the form of shares of stock with less through stock options and cash. Obviously, the higher the stock price, the greater the compensation of the CEO, and to the extent that stock price reflects the “bottom line” financial performance of the company, there is a stronger linkage.   As indicated above, criticism of CEO pay is primarily made on the issue of equity and less on performance, talent or productivity. The CEO pool for large public companies is small, and the skills needed to navigate the increasingly competitive business environment -- marked by rapid change in such factors as technology, consumer tastes, regulatory requirements and internationalization -- require a competitive compensation. In comparison to these highly sought after CEOs, many employees at the bottom of organizations have a limited ability to increase productivity just due to the nature of the job. Americans preoccupation with inequality of wealth and income, some say class envy, is relatively new and a potent political tool for those on the left. But historically Americans compare their compensation with those within their own socioeconomic reference group or profession as opposed to their CEO. As long as the employee is doing well within his or her reference group, he or she will feel satisfied with their pay. In addition if the economic pie is growing and the employee is “keeping up,” then class envy will be less. It is the job of the CEO to make the pie grow larger for his/her company. To the extent that this occurs, and the employee progresses through increased salaries and promotional opportunities, then envy of the CEO should be lessened.  Unfortunately, there is a significant skill divide in the United States, with CEOs in general possessing extraordinary business skills, while the public education system is not performing well in equipping workers with even rudimentary entry-level skills that would allow the employee to progress up the corporate hierarchy. According to the Bill & Melinda Gates Foundation, “Only 25 percent of public high school graduates have the skills needed to succeed academically in college, which is an important gateway to economic opportunity in the United States.” Even if there is a significant redistribution of income, and it is given directly to low-income workers, there is not enough to go around to make an appreciable impact upon their lives and would do nothing to reduce the skill divide (unless it can be used to increase the quality of education.) CEO pay does not need to be reduced as a matter of public policy, but the skill divide does.  Philip H. Umansky, CPA, Ph.D., is chair of the Department of Accounting and Finance at Virginia Union University in Richmond. 2014-07-03T17:57:00+00:00 http://www.virginiabusiness.com/news/article/the-breeden-co.-reports-more-than-4-million-in-land-sales The Breeden Co. reports more than $4 million in land sales http://www.virginiabusiness.com/news/article/the-breeden-co.-reports-more-than-4-million-in-land-sales http://www.virginiabusiness.com/news/article/the-breeden-co.-reports-more-than-4-million-in-land-sales#When:17:43:00Z The Breeden Co., a Virginia Beach-based commercial real estate company, has closed on more than $4 million in land sales at Towne Center West in Henrico County in the past 90 days. The transactions at the 40-acre mixed-used site in the county’s Short Pump area are expected to lead to new retailers, restaurants and office buildings. The Stanley Shield Partnership bought 4.11 acres of land, planning to build a 109,000-square-foot, five-story medical building by late summer. The $48 million development is part of a series of medical office buildings planned by Stanley. “This is the missing piece,” Mark Pendleton, the president of Breeden Realty, said of Stanley’s plans in a statement, adding “we now have the office component, which has long been sought after.” Another deal involved an 8,376-square-foot BJ’s Restaurant and Brewhouse. Breeden began work on Towne Center West in 2007. Development, however, stopped in 2009 because of the Great Recession. The company said seen what it calls “the Short Pump Surge” in the past year. Town Center West already includes a Hilton hotel (including a Shula’s Steakhouse and Aura Salon & Spa), the Virginia Eye Institute and an Ethan Allen store. Two apartment communities on the site, Reflections at West Creek and Marshall Springs at Gayton West, provide a total of 842 units. 2014-07-03T17:43:00+00:00 http://www.virginiabusiness.com/news/article/u.s.-mortgages-rates-show-little-change U.S. mortgages rates show little change http://www.virginiabusiness.com/news/article/u.s.-mortgages-rates-show-little-change http://www.virginiabusiness.com/news/article/u.s.-mortgages-rates-show-little-change#When:17:10:00Z U.S. mortgage rates showed little change heading into the July 4 weekend, according to McLean-based Freddie Mac. The company’s weekly Primary Mortgage Market Survey, released Thursday, showed a slight dip in rates for 30-year, fixed rate-mortgages and one-year Treasury-indexed, adjustable-rate mortgages while two other types of home loans remained unchanged. "Mortgage rates were little changed from the previous week and remain below levels seen the same time last year, which should provide some help with homebuyer affordability in many markets,” Frank Nothaft, vice president and chief economist at Freddie Mac, said in a statement. “Recent housing data was better with pending home sales up 6.1 percent in May and overall construction spending showing a slight improvement with private residential spending now up 7.5 percent on yearly basis," he said. The survey showed: • 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending July 3, down from previous week when it averaged 4.14 percent. A year ago, the 30-year FRM averaged 4.29 percent. • 15-year FRM averaged 3.22 percent with an average 0.5 point, unchanged from the previous week. Last year, the 15-year FRM averaged 3.39 percent. • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent with an average 0.4 point, unchanged from the previous week. Twelve month before, the 5-year ARM averaged 3.10 percent. • 1-year Treasury-indexed ARM averaged 2.38 percent with an average 0.4 point, down from last week when it averaged 2.40 percent. At same period last year, the 1-year ARM averaged 2.66 percent. 2014-07-03T17:10:00+00:00 http://www.virginiabusiness.com/news/article/s.-l.-nusbaum-reports-8.17-million-in-deals-during-june S. L. Nusbaum reports $8.17 million in deals during June http://www.virginiabusiness.com/news/article/s.-l.-nusbaum-reports-8.17-million-in-deals-during-june http://www.virginiabusiness.com/news/article/s.-l.-nusbaum-reports-8.17-million-in-deals-during-june#When:18:40:00Z The Richmond and Norfolk offices of S. L. Nusbaum Realty Co.  completed commercial real estate transactions totaling $8.17 million on 177,931 square feet of space in June. New leases include EdgeConneX Holdings LLC taking 19,820 square feet of industrial space at 3800 Village Ave. in Norfolk. C. Cheyney Cole Jr. of S. L. Nusbaum represented the landlord. In sales transactions, Pawsatively Purrfect LLC purchased a 12,792-square-foot commercial building on .725 acre of land located at 1605 Rhoadmiller St. in Richmond from MCV Associated Physicians for $635,000. Reid Cardon of S. L. Nusbaum represented the buyer. Metropolitan Property Investments LLC bought .22 acre located at 200 N. George Washington Highway in Chesapeake from Yushika Exports Inc. for $250,000. John Wessling and Bill Overman of S. L. Nusbaum represented the buyer and seller. In lease renewals and expansions, Continental Terminals Inc. has extended its lease on 38,500 square feet of industrial space at 3941 Holland Blvd. in Chesapeake. S. L. Nusbaum’s  Stephanie Sanker represented the landlord and Michael Myers represented the tenant. Big Lots has exercised its option on 33,599 square feet of retail space at Suffolk Plaza in Suffolk. Christopher Hucke  of S. L. Nusbaum represented the landlord. Bed, Bath & Beyond renewed its lease on 23,000 square feet of retail space at WindsorMeade Marketplace in Williamsburg. S. L. Nusbaum’s  Richard Jacobson and Tyler Jacobson represented the landlord. 2014-07-02T18:40:00+00:00 http://www.virginiabusiness.com/companies/article/law-catalyst-names-director-of-business-development Law Catalyst names director of business development http://www.virginiabusiness.com/companies/article/law-catalyst-names-director-of-business-development http://www.virginiabusiness.com/companies/article/law-catalyst-names-director-of-business-development#When:18:40:00Z Jeffrey S. Bergren has joined Law Catalyst as director of business development. Law Catalyst is a Virginia Beach-based marketing, public relations and media agency serving lawyers and law firms. Bergren will work with the firm’s president and vice president to lead the marketing and business development strategies for the organization. The agency provides services and consultation to lawyers and firms in Pennsylvania, New Jersey, Virginia and Georgia. Law Catalyst was formed in 2009 out of the media production company Law Journal Television. Bergren is a graduate of the LEAD Hampton Roads program and previously served on the board of directors for the Hampton Roads Chamber of Commerce. He also is a member of the energy committee for the Virginia Chamber of Commerce and serves on the marketing advisory board for Super Lawyers. 2014-07-02T18:40:00+00:00 http://www.virginiabusiness.com/news/article/merkle-acquires-rkg Merkle acquires RKG http://www.virginiabusiness.com/news/article/merkle-acquires-rkg http://www.virginiabusiness.com/news/article/merkle-acquires-rkg#When:18:32:00Z Columbia, Md.-based Merkle has acquired RKG, a marketing agency based in Charlottesville. Terms of the deal were not disclosed. RKG is a search and digital marketing agency that was founded in 2003. Besides its headquarters, RKG has locations in Bend, Ore., and Boston. Merkle, also a marketing agency, works with Fortune 1000 companies and nonprofit organizations. The acquisition brings Merkle’s employee base to more than 2,400, adding nearly 220 workers to the company’s digital agency group.  Merkle estimates it will have media billings of over $500 million this year. Outside the United States, Merkle has offices in England and China. 2014-07-02T18:32:00+00:00 http://www.virginiabusiness.com/news/article/kensington-vanguard-opens-offices-in-woodbridge-and-stafford Kensington Vanguard opens offices in Woodbridge and Stafford http://www.virginiabusiness.com/news/article/kensington-vanguard-opens-offices-in-woodbridge-and-stafford http://www.virginiabusiness.com/news/article/kensington-vanguard-opens-offices-in-woodbridge-and-stafford#When:18:23:00Z New York-based Kensington Vanguard National Land Services, a national title insurance and settlement agency, has opened two new Virginia offices, in Woodbridge and Stafford. Kensington Vanguard provides commercial and residential title insurance, settlement, escrow and 1031 exchange services. Last year, the company acquired two Northern Virginia title agencies, New Era Title and Clear to Close Settlement Services, to establish its first office in the greater Washington, D.C., market in Tysons Corner. Marc Wiltshire and Alicia Thompson will lead operations at the Woodbridge and Stafford offices, respectively. Kensington Vanguard has offices in Florida, New Jersey, New York, Virginia and Texas. The company is the result of a merger between Kensington National Land Services LLC and Vanguard Title Agency Inc. , which were both founded in 2002. 2014-07-02T18:23:00+00:00 http://www.virginiabusiness.com/uploads2/Trolley_Barn.jpg Trolley Barn http://www.virginiabusiness.com/news/article/technology-company-to-be-first-corporate-tenant-in-roanoke-project Technology company to be first corporate tenant in Roanoke project http://www.virginiabusiness.com/news/article/technology-company-to-be-first-corporate-tenant-in-roanoke-project http://www.virginiabusiness.com/news/article/technology-company-to-be-first-corporate-tenant-in-roanoke-project#When:18:21:00Z California-based JDSU will be the first corporate tenant at The Bridges, a $100 million redevelopment project in Roanoke. JDSU is a technology company that develops network and service enablement solutions for network equipment manufacturers, communications service providers and enterprises. The developers of The Bridges are redeveloping a vacant stretch along Roanoke’s South Jefferson Street into new apartments, offices and retail. The commercial real estate firm Cushman & Wakefield | Thalhimer said JDSU will occupy about  24,643 square feet in the Trolley Barn at 323 Walnut Ave., which is part of the overall redevelopment. The space, which will feature an open floor plan, is scheduled for completion in December 2014. John K. Nielsen of Cushman & Wakefield | Thalhimer, who is the exclusive leasing representative of The Bridges, handled the lease negotiations. In a statement, Nielsen said the deal represents the largest new office lease signed in the downtown Roanoke area since March 2008. 2014-07-02T18:21:00+00:00 http://www.virginiabusiness.com/news/article/eastern-henrico-property-sells-for-1.2-million Eastern Henrico property sells for $1.2 million http://www.virginiabusiness.com/news/article/eastern-henrico-property-sells-for-1.2-million http://www.virginiabusiness.com/news/article/eastern-henrico-property-sells-for-1.2-million#When:17:45:00Z Rockit Sports LLC has purchased an office/warehouse property in Eastern Henrico County for $1.2 million to operate a youth athletic training facility. The 47,655-square-foot building is situated on 2.42 acres at 3001 E. Parham Road, according to the commercial real estate firm Cushman & Wakefield | Thalhimer. The property was owned by 3001 E. Parham LLC. Birck Turnbull and Gregg W. Beck of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the sellers. 2014-07-02T17:45:00+00:00 http://www.virginiabusiness.com/news/article/versar-inc.-acquires-j.m.-waller-associates-for-13-million Versar Inc. acquires J.M. Waller Associates for $13 million http://www.virginiabusiness.com/news/article/versar-inc.-acquires-j.m.-waller-associates-for-13-million http://www.virginiabusiness.com/news/article/versar-inc.-acquires-j.m.-waller-associates-for-13-million#When:09:57:00Z Springfield-based project management company Versar Inc. has acquired J.M. Waller Associates for $13 million.   J.M. Waller Associates is a Fairfax-based consulting company with annual revenues of more than $30 million. It provides environmental, facilities, professional staffing and logistics consulting services to a variety of government, industry and commercial clients.  J.M. Waller Associates’ long-term clients include the U.S. Army Corps of Engineers, U.S. Air Force, U.S. Navy, Environmental Protection Agency and the General Services Administration. Versar Inc. is a publicly-traded company serving clients in the construction management, environmental services, munitions response, and professional services industries. "The acquisition of J.M. Waller is a great strategic fit for Versar, and will immediately strengthen not only our environmental services and professional services businesses, but also our engineering and construction management services,” Tony Otten, Versar’s CEO, said in a statement. The acquisition price of $13 million will be satisfied with cash and a seller note. 2014-07-02T09:57:00+00:00 http://www.virginiabusiness.com/news/article/jobless-rates-climb-in-virginia-metro-areas Jobless rates climb in Virginia metro areas http://www.virginiabusiness.com/news/article/jobless-rates-climb-in-virginia-metro-areas http://www.virginiabusiness.com/news/article/jobless-rates-climb-in-virginia-metro-areas#When:18:45:00Z Unemployment rates rose in Virginia’s urban areas in May. The Virginia Employment Commission reported Tuesday that jobless rates in the commonwealth’s 11 metro area all increased during May, from half a percentage point in the Winchester area to 1.3 points in the Harrisonburg region. Northern Virginia had the lowest rate in May, 4.4 percent, up six tenths of a percentage point from April. Following behind NOVA were the Charlottesville and Winchester areas, both with rates of 4.7 percent. The numbers reported by the VEC are not adjusted for seasonal fluctuations. The not seasonally adjusted unemployment rate for Virginia in May was 5.4 percent, up from 4.7 percent in April. The comparable national jobless rate for May was 6.1 percent, up from 5.9 percent in April. Here is a rundown of the metro area unemployment numbers: Blacksburg-Christiansburg-Radford: 5.8 percent in May, up from 4.6 percent in April. Bristol:  6.3 percent, up from 5.9 percent. Charlottesville: 4.7 percent , up from 3.7 percent. Danville: 7.7 percent, up from 6.9 percent Hampton Roads: 5.8 percent, up from 5.1 percent. Harrisonburg: 5.4 percent, up from 4.1 percent. Lynchburg: 6.2 percent, up from 5.2 percent. Northern Virginia: 4.4 percent, up from 3.8 percent. Richmond: 5.6 percent, up from 5 percent. Roanoke: 5.5 percent, up from 4.8 percent. Winchester: 4.7 percent, up from 4.2 percent. 2014-07-01T18:45:00+00:00 http://www.virginiabusiness.com/news/article/leidos-names-boeing-executive-as-its-next-ceo Leidos names Boeing executive as its next CEO http://www.virginiabusiness.com/news/article/leidos-names-boeing-executive-as-its-next-ceo http://www.virginiabusiness.com/news/article/leidos-names-boeing-executive-as-its-next-ceo#When:18:17:00Z Reston-based Leidos has named a Boeing executive as its next CEO. Roger A. Krone, president of Network and Space Systems for Boeing, will begin his new role on July 14. He’ll succeed John P. Jumper who announced his retirement as CEO in February but will continue as chairman of the company’s board of directors. In his current role at aerospace company Boeing, Krone leads about 15,000 employees in 35 states and 12 countries. Krone also previously was vice president and general manager of Boeing's Army Systems division, where he was responsible for military aircraft programs such as the AH-64D Apache Longbow and the CH- 47 Chinook. When Boeing merged with McDonnell Douglas, Krone was vice president and treasurer at that company.  He joined McDonnell Douglas in 1992 as director of financial planning after working for General Dynamics for 14 years, where he held positions in program management, engineering and finance. Leidos was formed last year when SAIC, a major government and defense contractor, was divided into two parts —  Leidos and a smaller company also called SAIC. The Fortune 500 company is made up of 22,000 employees. It works to address challenges in national security, health and engineering.  Leidos reported revenues of $5.77 billion for the fiscal year ended Jan. 31. 2014-07-01T18:17:00+00:00 http://www.virginiabusiness.com/news/article/washington-area-commercial-real-estate-market-sees-modest-growth-in-second Washington-area commercial real estate market sees modest growth in second quarter http://www.virginiabusiness.com/news/article/washington-area-commercial-real-estate-market-sees-modest-growth-in-second http://www.virginiabusiness.com/news/article/washington-area-commercial-real-estate-market-sees-modest-growth-in-second#When:17:58:00Z The Washington, D.C., area saw modest commercial real estate growth in the second quarter, according to preliminary research reports by CBRE Group. “The trend toward more efficient, consolidated, and sustainable workplaces is here to stay.  But with an improved economic forecast and the resulting market stabilization, we’re seeing noticeable spurts of touring activity, as well as a rising demand from nonprofits, and technology and business services,” John Germano, executive managing director of CBRE’s Washington-Baltimore region, said in a statement. The second quarter saw rising demand for services by nonprofits and associations in the District of Columbia.  More tenants seeking 10,000 square feet or more came to the market as well, CBRE said. The D.C. market also experienced 393,000 square feet of negative absorption and a slight rise in vacancy to 11.3 percent, in large part because of Intelsat’s relocation from a 475,000-square-foot Uptown headquarters to Tysons Corner. The impact of this move was lessened by tenants who expanded their footprint or relocated to D.C., CBRE said. The commercial real estate company expects significant increase in Northern Virginia office market sales activity because a growing number of investors are seeking a yield outside the urban core.  More than 15 properties are currently on the market with a large business park soon to follow, the company said. Four buildings totaling 1.2 million square feet were delivered during the second quarter with a preleasing rate of 73 percent.  Another 2.3 million square feet is under construction. Demand, however, has been unable to keep pace with the supply of vacant blocks of space, CBRE reports.  Northern Virginia experienced 275,752 square feet of negative absorption and an increase in vacancy rate by 70 basis points. Several tenants reduced their footprints and gave back space, while the delivery of four office buildings also added 324,302 square feet of vacant space to the market. Tenants occupying less than 15,000 square feet continue to be the most active and accounted for nearly three-quarters of the deals signed in the second quarter, although that figure was as high as 85 percent in the first quarter, CBRE said. The two largest move-ins of the quarter were Intelsat’s relocation to Tysons Corner and the CIA’s move to Dulles Discovery IV in the Route 28 South submarket. 2014-07-01T17:58:00+00:00 http://www.virginiabusiness.com/news/article/65-million-in-financing-arranged-for-the-view $65 million in financing arranged for The View http://www.virginiabusiness.com/news/article/65-million-in-financing-arranged-for-the-view http://www.virginiabusiness.com/news/article/65-million-in-financing-arranged-for-the-view#When:17:26:00Z HFF has arranged $65 million in financing for The View, a 17-story, 257-unit apartment tower in Arlington. HFF worked on behalf of Ashton Park Associates III, LLC, an affiliate of The Shooshan Co., to place the 15-year, fixed-rate loan with Prudential Mortgage Capital Co.  Loan proceeds were used to retire the existing construction debt on the property, which HFF secured for the borrower in 2012.  The View is located at 4000 Wilson Boulevard in the Rosslyn-Ballston Corridor of Arlington.  Completed this year, the LEED Silver luxury property includes studio, one- and two-bedroom units with open floor plans and floor-to-ceiling windows.  The property also includes 9,000 square feet of ground-floor retail space with outdoor café seating.  The View is the residential cornerstone of the second phase of Liberty Center, a 2.3 million-square-foot, mixed-use project. When completed, nine-building Liberty Center development will include hotel, retail, office and multi-housing components centered on open public space.  . Founded in 1986, The Shooshan Co. is a privately owned developer. The company  has planned, developed and invested in more than 3 million square feet of mixed-use space in Arlington. 2014-07-01T17:26:00+00:00 http://www.virginiabusiness.com/news/article/sweet-briar-college-names-interim-president Sweet Briar College names interim president http://www.virginiabusiness.com/news/article/sweet-briar-college-names-interim-president http://www.virginiabusiness.com/news/article/sweet-briar-college-names-interim-president#When:20:59:00Z James F. Jones Jr., the retiring president of Trinity College in Hartford, Conn., has been named the interim president of Sweet Briar College. He succeeds Jo Ellen Parker, who announced in April that she was leaving the college to become president of Carnegie Museums of Pittsburgh. Jones’ first day on the job at Sweet Briar will be Aug. 15. During his 10-year presidency at Trinity College, Jones led a college-wide strategic planning process, with input from hundreds of faculty, staff, students and the Trinity Board of Trustees. The resulting 2005 Cornerstone Plan was instrumental in establishing an ongoing process for annual planning at the college. In addition, the Cornerstone Plan helped Trinity develop the goals of its six-year Cornerstone and Legacy Campaigns, which concluded in 2012 after raising $369 million in contributions and donor commitments — more than double the amount of Trinity’s previous fundraising campaign. During Jones’ decade as president, Trinity saw more than 30 percent growth in its overall college endowment and achieved significant annual fund growth. Today, annual fund contributions represent between 8 and 9 percent of the college’s operating budget — almost double the contribution 10 years ago. 2014-06-30T20:59:00+00:00 http://www.virginiabusiness.com/news/article/relay-foods-plans-to-bring-25-new-jobs-to-charlottesville Relay Foods plans to bring 25 new jobs to Charlottesville http://www.virginiabusiness.com/news/article/relay-foods-plans-to-bring-25-new-jobs-to-charlottesville http://www.virginiabusiness.com/news/article/relay-foods-plans-to-bring-25-new-jobs-to-charlottesville#When:20:02:00Z Relay Foods plans to bring more than groceries to Virginia. The Charlottesville-based online grocer announced Monday a $735,000 expansion slated to create 25 jobs in the city. The company says it will expand its corporate headquarters and Charlottesville fulfillment center to accommodate increased local demand for its products and support its entry into new markets. Relay strives to increase its mid-Atlantic sales by $3 million over the next three years.  Relay Foods helps more than 200 local farmers and producers deliver local foods and groceries directly to customers.  Gov. Terry McAuliffe approved a $50,000 grant from the Agriculture and Forestry Industries Development Fund (AFID) for the project.  Relay Foods also says it will purchase at least $350,000 worth of meats, produce, dairy products and other foods from Virginia producers over the next three years. 2014-06-30T20:02:00+00:00 http://www.virginiabusiness.com/news/article/new-regulations-on-storm-water-management-take-effect-july-1 New regulations on storm water management take effect July 1 http://www.virginiabusiness.com/news/article/new-regulations-on-storm-water-management-take-effect-july-1 http://www.virginiabusiness.com/news/article/new-regulations-on-storm-water-management-take-effect-july-1#When:15:46:00Z   Tomorrow, July 1, ushers in new regulations for Virginia’s Storm Water Management Program — changes that will affect how new projects are designed and constructed. The new law calls for more stringent controls on water quality and quantity coming off development sites, says Shannon Varner, a lawyer in environmental law with Troutman Saunders in Richmond. Another change governs oversight. Originally, the new legislation would have moved storm water management to all localities, says Varner.  However, during the past General Assembly session, some smaller localities convinced legislators that that they didn’t have the resources to run their own programs. The way things stand now metropolitan areas will run their programs. Smaller localities also may opt in to run their programs, says Varner, but they don’t have to. If they don’t opt in, the state’s Department of Environmental Quality will provide oversight as it has in the past.   Another big concern has been grandfather provisions. If a developer had a permit in place for a project prior to July 1, it was possible to get grandfathered under existing storm water controls. After Tuesday, though, new projects will be subject to the new requirements. “It will take some additional planning and there could be some additional costs,” says Varner. “There are opportunities for nutrient trading to help reduce the costs of water quality control.’’ According to the DEQ’s Website, storm water runoff is the water that flows into other surface waters or water that is channeled into natural or constructed conveyance systems during and after precipitation. If left unmanaged, the runoff can cause erosion and flooding or may carry excess nutrients, sediment and contaminants into the state’s waters. 2014-06-30T15:46:00+00:00 http://www.virginiabusiness.com/news/article/retail-comings-and-goings Retail comings and goings http://www.virginiabusiness.com/news/article/retail-comings-and-goings http://www.virginiabusiness.com/news/article/retail-comings-and-goings#When:15:43:00Z   One of Central Virginia’s outdoor shopping venues, Stony Point Fashion Park, will be under new ownership by the end of the year, with the mall one of seven being sold by the Michigan-based Taubman Centers. Taubman announced earlier this month that Stony Point and MacArthur Center in downtown Norfolk were among seven centers in a portfolio that it has agreed to sell for $1.4 billion to an affiliate of Starwood Capital Group, a private equity firm. The transaction includes $785 million in cash and $620 million of property-level debt that will be repaid or assumed at closing by the buyer. The deal is expected to be completed in the fourth quarter. Barry Sternlicht, chairman and CEO of Starwood Capital Group, said in a statement that the acquisition is “highly strategic” for the company’s retail operating unit, Starwood Retail Partners. “The Taubman portfolio broadens our relationships with higher end department stores and in line tenants and gives us an excellent opportunity to continue to produce attractive returns to our investors,” he said. Taubman built and developed Stony Point, which opened in 2003. It also was the longtime owner of Regency Square in Henrico County, which it bought in1997 and in 2010 turned over to the mortgage lender to avoid foreclosure. While Taubman continues to sell properties in the Richmond market, Walmart continues to expand. According to a story reported by Richmond BizSense, a Walmart Supercenter plans to move into Eastgate Town Center, an open-air retail center that will replace the aging Fairfield Commons Mall on Nine Mile Road in Henrico County. Bromont Investment Group, based in Arizona, plans to take down the existing mall and replace it with a new 300,000-square-foot retail complex.  Walmart’s new store would take up 190,000 square feet and anchor the new development. In October 2012, Walmart opened a 148,368-square-foot retail center in Powhatan County. . 2014-06-30T15:43:00+00:00 http://www.virginiabusiness.com/news/article/thalhimer-reports-lease-transactions-of-more-than-130000-square-feet-in-ric Thalhimer reports lease transactions of more than 130,000 square feet in Richmond area. http://www.virginiabusiness.com/news/article/thalhimer-reports-lease-transactions-of-more-than-130000-square-feet-in-ric http://www.virginiabusiness.com/news/article/thalhimer-reports-lease-transactions-of-more-than-130000-square-feet-in-ric#When:14:43:00Z Cushman & Wakefield | Thalhimer reports Richmond-area lease transactions totaling over 130,000 square feet.   The largest deal was for Murray Supply Co., which leased 24,000 sq.ft. in Interport Business Center at 4770 Eubank Road in Henrico County. Evan M. Magrill, Dean Meyer and Dawn M. Calabrese handled lease negotiations.  In other transactions: Hajoca Corp. leased 24,000 square feet at 3900 Carolina Ave. in Henrico County for a fire sprinkler production facility.  Gregg W. Beck handled lease negotiations.  Kingdom Dominion LLC leased 11,349 square feet in Cloverleaf Office Park at 300-310 Turner Road in Chesterfield County.  James Stikeleather and Jason Guillot handled lease negotiations. Oyster Consulting leased 9,154 square feet in Park IV at 4128 Innslake Drive in Henrico.  Mark E. Douglas and Brian K. Berkey handled lease negotiations. 2014-06-30T14:43:00+00:00 http://www.virginiabusiness.com/news/article/mitre-signs-contract-for-air-traffic-management-rd-center-in-singapore MITRE signs contract for Air Traffic Management R&D center in Singapore http://www.virginiabusiness.com/news/article/mitre-signs-contract-for-air-traffic-management-rd-center-in-singapore http://www.virginiabusiness.com/news/article/mitre-signs-contract-for-air-traffic-management-rd-center-in-singapore#When:17:47:00Z The MITRE Corp., headquartered in McLean and Bedford, Mass., announced earlier this week it has signed a contract to open an Air Traffic Management research and development center in Singapore. The 10,000-square-foot laboratory will use simulation tools such as cockpit simulation, en route and terminal controller work stations and advanced traffic flow management tools and work stations. The facility will be designed to connect to other organizations' research simulation to facilitate a collaborative research environment between governments, industry, and academia. The initial work program is expected to start this October. MITRE's lab is expected to be operational in January 2015. The contract MITRE signed with the Civil Aviation Authority of Singapore is for seven years, with an option for a three-year extension. Mimi Dobbs will lead the initial operation in Singapore. Dobbs is the company’s assistant director for international, responsible for the Asia Pacific region.  MITRE is a non-profit that provides systems engineering, research and development, and information technology support to the U.S. government. It operates federally funded research and development centers, including the Center for Advanced Aviation System Development. The Civil Aviation Authority of Singapore oversees and promotes safety in the aviation industry, develops the air hub and aviation industry, provides air navigation services, aviation training for human resource development and contributes to the development of international civil aviation. 2014-06-28T17:47:00+00:00 http://www.virginiabusiness.com/news/article/triple-canopy-names-gregory-mo-mulligan-president Triple Canopy names Gregory ‘Mo’ Mulligan president http://www.virginiabusiness.com/news/article/triple-canopy-names-gregory-mo-mulligan-president http://www.virginiabusiness.com/news/article/triple-canopy-names-gregory-mo-mulligan-president#When:16:56:00Z Triple Canopy Inc., a Reston-based provider of mission support, security, training and advisory services, has named Gregory ‘Mo’ Mulligan as president of the firm, effective July 1. After more than 10 years with Triple Canopy, current Chairman and CEO Ignacio 'Iggy' Balderas will hand over management responsibilities to Mulligan who served various management positions at Triple Canopy from 2004 to 2008. His roles during that time included chief operating officer, senior vice president of operations and senior vice president of human resources. For the last three years, Mulligan has been CEO at Wyoming -based Quick Services LLC. His past work experience includes serving as senior operational adviser for Wexford Group International, mayor pro-tem for the City of Manistique, Mich. and executive director of the Schoolcraft County Economic Development Corp.    According to Triple Canopy’s website, the firm has several thousand personnel worldwide. The company was founded in Chicago in 2003 by U.S. Army Special Forces veterans. It works for a range of government agencies and multinational corporations. 2014-06-28T16:56:00+00:00 http://www.virginiabusiness.com/uploads2/NVIEW_ironman3.png “Iron Man 3” was filmed in North Carolina. AP Photo/Disney, Marvel Studios http://www.virginiabusiness.com/opinion/article/film-incentives-drama-in-n.c.-doesnt-affect-virginia Film incentives drama in N.C. doesn’t affect Virginia http://www.virginiabusiness.com/opinion/article/film-incentives-drama-in-n.c.-doesnt-affect-virginia http://www.virginiabusiness.com/opinion/article/film-incentives-drama-in-n.c.-doesnt-affect-virginia#When:10:00:00Z In the 1979 film “10,” Dudley Moore pursued an elusive Bo Derek after catching a glimpse of her on her wedding day. Thirty-five years later, Gov. Terry McAuliffe is courting the actress, but he is not chasing after her on a Mexican beach. The governor and his wife, Dorothy, invited Derek to spend a night at the Executive Mansion in Richmond and be the guest of honor at a garden party. Unlike Moore’s character in “10,” McAuliffe’s interest in Derek does not stem from how she looks with her hair in corn rows. She is developing a television series, and the governor wants it filmed in Virginia. McAuliffe’s charm offensive is one example of the intense competition among the states to recruit movie and TV productions. Like 38 other states, Virginia provides incentives to production companies to film here. Just as in economic development fights to recruit a job-creating factory, some state is always raising the ante. One of Virginia’s perennial rivals, however, has been debating whether the stakes have gotten too high.  The North Carolina General Assembly is trying to decide if it will let its film incentive program expire at the end of this year. The program ranked No. 5 in the nation last year in annual film production revenue, trailing only California, New York, Georgia and Louisiana. More than 60 productions spent over $254 million in the state in 2013. The year before, the total was even higher, $376 million. North Carolina’s incentives program began in 2005, but recruitment started to take off after changes were made in 2010. Refundable tax credits granted to film productions rose from 15 to 25 percent of qualified expenses with total limits per project increasing from $7.5 million to $20 million. (TV series, however, are not subject to the project cap.) North Carolina nabbed some impressive projects in recent years, including the films “The Hunger Games” and “Iron Man 3,” which together received almost $34 million in tax credit refunds in 2012 while spending $136 million, according to The Associated Press.  Charlotte also is the production site for the award-winning television series “Homeland.” A number of North Carolina legislators, however, have voiced their dissatisfaction with the film incentives program, which paid out $61 million last year. They believe the state is paying too much for projects that don’t produce many full-time jobs. North Carolina’s debate over its film incentives likely is a product of its stubbornly slow recovery from the Great Recession. While Virginia’s unemployment rate has fallen from 7.3 to 4.9 percent since 2010, North Carolina’s jobless rate, now 6.2 percent, was above 8 percent a year ago. To attract new employers, the Republican-controlled legislature cut corporate taxes from 6.9 percent last year to 6 percent this year and 5 percent next year. Critics have blamed the tax cuts for a $445 million revenue shortfall in the fiscal year that ended June 30. The situation has forced the legislators to make tough decisions, including the possibility of letting the film incentives program die. In early June, the North Carolina Senate passed a bill that would replace tax credits with grants totaling no more than $20 million a year, but that was not expected to be the last word on the issue during the legislative session, which will end later this summer. According to the Wall Street Journal, news of the possible expiration of the state’s film incentives program played a part in a decision by 21st Century Fox to film “Salem,” a new television series, in Louisiana instead of North Carolina. Louisiana offers a 30 percent tax credit plus an additional 5 percent labor credit for employing state residents. In contrast to the legislative turmoil in North Carolina, the Virginia General Assembly increased the level of film incentives slightly in the fiscal year beginning July 1.  With the increase, however, the total annual appropriation amounts to $8.9 million, ($6.5 million for tax credits and $2.4 million for grants) less than half of the $20 million cap proposed by the North Carolina Senate. “We try to operate a program here that is sustainable,” says Andy Edmunds, director of the Virginia Film Office. Despite its modest outlays compared with many other states, Virginia has attracted some major film productions in recent years, including Steven Spielberg’s “Lincoln” starring Daniel Day-Lewis and “Captain Phillips” starring Tom Hanks. Television projects have included “Killing Lincoln,” “Killing Kennedy” and “Turn,” a series on AMC about spies during the Revolutionary War that is being filmed in the Richmond area. According to a study released last September, 11 film productions shot in Virginia from 2011 through 2013 received a total of $11.8 million in incentives while spending $66.4 million in the state, creating an economic impact of $139.1 million. One benefit of the incentives, however, might not be reflected in those numbers. The Blu-ray version of Spielberg’s “Lincoln” included a three-minute video about filming in Virginia. Likewise, every episode of “Turn” has a 15-second commercial for Virginia Tourism, produced at AMC’s expense, which encourages tourists to come to Virginia to explore colonial history. “That is part of our arrangement if you received incentives,” Edmunds says. “We’re really the only state that has created that relationship with our production partner.” The “Virginia Way” in recruiting film projects may not have captured Bo Derek yet, but  it has snared Meg Ryan. She will make her directorial debut filming “Ithaca,” a movie based on William Saroyan’s  novel ”The Human Comedy.” Production in the Old Dominion will begin this summer. 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/FAIRFAXSIDE_arvind_manocha.png Arvind Manocha http://www.virginiabusiness.com/news/article/up-from-the-ashes Up from the ashes http://www.virginiabusiness.com/news/article/up-from-the-ashes http://www.virginiabusiness.com/news/article/up-from-the-ashes#When:10:00:00Z Along with all its many other high-end assets, Fairfax County can boast of being the home of Wolf Trap, the country’s only national park for the performing arts. Back in 1982, when the park was still a preteen, its central stage, the Filene Center, burned to the ground. It took two years to rebuild after that devastating loss, and this year marks the 30th anniversary of the amphitheater’s phoenix-like rise from the ashes.  CEO and President Arvind Manocha decided to celebrate that occasion with “a season of big names from across all genres.” Performers on stage at the nearly 4,000-seat, open-air theater this year include classical heavyweights such as Yo-Yo Ma, the Philadelphia Orchestra and the National Symphony Orchestra; jazz greats such as guitarist Pat Metheny and trumpeter Wynton Marsalis; popular music stars The Fray and Counting Crows; and dance innovator Trey McIntyre in his final Washington-area performance. Wolf Trap is expanding its outreach programs, too, Manocha says. Its Institute for Early Learning will reach eight to 10 new cities in 30 states, and for the first time, it will have an artist in residence for its opera program. Bass baritone Eric Owens, an alumnus of the company, will spend six weeks at the Vienna park performing, mentoring young artists and giving master classes. Manocha, who managed the Hollywood Bowl before arriving at Wolf Trap in January 2013, says, “I knew Wolf Trap as an institution with a broad and varied mandate. I was happy to come and join the story.” Now, he says, “The focus of our efforts is on raising the bar.” 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/Thorton9078.png http://www.virginiabusiness.com/news/article/getting-a-boost Getting a boost http://www.virginiabusiness.com/news/article/getting-a-boost http://www.virginiabusiness.com/news/article/getting-a-boost#When:10:00:00Z Fairfax County has more than 35,000 businesses, and most of them are small. The business of the Mason Enterprise Center (MEC) is to make that number of small businesses bigger. The Small Business Administration reports that more than half of all business startups fail in the first five years, and MEC tries to keep would-be business owners from adding to that statistic. The fledgling enterprises in its program are given free research and information services and administrative support. They also have opportunities for networking, mentoring and counseling, and office space is available at attractive rates. “We cover the full life cycle of business development and then graduate them out into the community,” says MEC Executive Director Keith B. Segerson. “Eighty-four percent meet or exceed the goals that have been agreed upon, usually after two to three years.” The center, which is based on the Fairfax campus of George Mason University, has five business incubators in Northern Virginia, the most recent of which opened in Warrenton this spring. MEC also recently added a global gateway program aimed at attracting small and medium-size foreign entrepreneurs to Virginia and plans to open an “I” hub on the GMU campus later this summer. This center for innovation will provide a space where young entrepreneurs can be creative. It will have “a very Silicon Valley look,” Segerson says.  MEC is one of the largest university-based economic development enterprises in the country, and it is funded by the federal government, the commonwealth and the localities in which it operates. MediaForce PR, a provider of marketing campaigns for the government and nonprofits, is an MEC graduate. It began in 2005 as a virtual client of the center, then took an office at the GMU facility. When the company graduated from the center in 2011, it had expanded to 11 offices there. “Part of the value they offer entrepreneurs is the infrastructure and relationship building,” says company President Robert Gaudian. Not having to invest right away in equipment and administrative personnel also was a huge plus, and the office space provided “at a low price point was critical.” Gaudian’s company, which has grown to 12 full-time and several part-time employees, had more than $2 million in revenue last year. It moved out of the center about two years ago, but it didn’t go far — its offices in Fairfax City are just two blocks from MEC. Visionary Consulting Partners, founded in 2008, is still in residence at the enterprise center. Its focus is in the management of chronic disease initiatives and programs. “Every aspect of our business was vetted through the leaders at the institute,” says Chief Operating Officer Michael D. Thornton. “They put us through our paces, gave us our homework. When we are considering a proposal on a bid, they take a look and challenge us.” Fairfax County has the largest percentage of minority-owned firms in Virginia. With the help of MEC, Visionary Consulting, headed by Thornton’s wife, Eleanor, an African-American woman veteran, has been able to leverage its minority-owned status to land direct, or no competition, government contracts. Last year, the company had about $675,000 in revenue. This year, thanks to landing three contracts in February, that figure will explode to $12 million. Despite that jolt of success, the Thorntons have no plans to leave MEC.  “It’s always good business to have a board of advisers,” Michael Thornton says. “We will stay as long as they will have us.” 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/TysonsBldg9047.png The 22-story Tysons Towers recently opened in Tysons Corner. Photo by Mark Rhodes http://www.virginiabusiness.com/news/article/better-than-all-right Better than all right http://www.virginiabusiness.com/news/article/better-than-all-right http://www.virginiabusiness.com/news/article/better-than-all-right#When:10:00:00Z Fairfax County has always been a company town, and, historically, that company, the U.S. government, has been generous. Lately, though, Uncle Sam has turned tight-fisted, and the county now needs to find a new way to maintain the lifestyle to which it has become accustomed. In the past couple of years, Fairfax County — and all the rest of Northern Virginia, for that matter — has been suffering from the full effects of curtailed federal spending and sequestration. During 12 months extending into the first quarter of this year, Northern Virginia (NOVA) lost 10,000 government and government-related jobs. They paid an average of $100,000 a year, so the job losses hit hard. Partly as a result, for the first time in recent memory, NOVA is underperforming the U.S. economy. In 2012, NOVA had a growth rate of 0.8 percent, while the country grew by 2.8 percent, says Stephen Fuller, director for the Center for Regional Analysis at George Mason University. Last year, the region grew by an even more anemic 0.4 percent rate, compared with an admittedly less than stellar 1.9 percent national average. The $23 billion in federal procurement spending Fairfax County saw last year is not likely to increase anytime soon, either.  “There are clear directives to continue to reduce spending,” says Bobbie Kilberg, president and CEO of the Northern Virginia Technology Council. So, best-case scenario: While the county’s public sector should be about done shrinking, in the short term, it isn’t likely to expand. But Fairfax County is going to be all right — actually quite a bit better than all right.  Although it may take awhile to build momentum after its recent reversal in fortunes, the last two quarters of 2014 and each of the next three years are expected to be stronger than the last, according to Fuller. With an unemployment rate of 3.8 percent (as of April), people are working and starting to spend money again on retail and consumer services, he says. A pent-up need for housing will mean both new construction and renovation work. But more important to a sunnier day is the potential for growth in private-sector business. Gerald L. Gordon, president and CEO of the Fairfax Economic Development Authority (FEDA), says the county has almost 35,000 businesses with paid employees, including 10 Fortune 500 companies, and more than 400 foreign-owned firms. Many of these companies will need to continue to reduce their dependence on federal money, but the expertise they have offered their public-sector clients — in health care, unmanned vehicles and IT specialties including cloud computing, data analysis and cybersecurity — luckily is in demand in the private sector, too, Kilberg says. Fairfax has the potential to reinvent itself as a center of national and international business, and Fuller is so confident that that is going to happen, that he has the title for a talk he will give later this year all picked out: “Fairfax County: From Company Town to Global Business Center.” County’s advantages                                                  Fairfax has many well-known lures for private companies. It is close to the nation’s capital, and it has a business-friendly environment. It has a highly educated populace, with close to a third holding advanced degrees. It has an enviable standard of living. Even in 2012, a bad year, Fairfax’s median household income was $107,096, third-highest in the country. It has world-class health care. For the second year in a row, Inova Fairfax has been named the top hospital in the Washington, D.C., area, and it has cutting-edge research in personalized medicine going on at its Translational Medicine Institute. The Wounded Warrior program based at Fort Belvoir offers veterans the best in acute-care and rehabilitative services. It has an excellent education system. Thomas Jefferson High School for Science and Technology, for example, consistently is ranked as one of the top schools in the country.  Superintendent Karen Garza, who was appointed just a year ago, admits that she is dealing with “the greatest financial challenge the school system has ever faced.” She has had to make some painful decisions, such as cutting 731 positions and increasing class sizes. But she is seeking collaborative ways to deal with budgeting realities and has held more than 100 community meetings “to listen and to educate.” “The reputation of the system is known nationally,” she says. “My goal is to build on that history of excellence.” Fairfax has still another plus to offer businesses that other jurisdictions can only envy, not duplicate. It has what Fuller calls “extreme connectivity” to the world and to the region. The county is one of the rulers of cyberspace, with a phenomenal one-third of global Internet traffic moving through its borders. Add to that virtual access, the ability of Washington Dulles International Airport to give business travelers direct service to destinations as far flung as Seoul and Abu Dhabi. Last month, Air China extended Fairfax’s reach to another huge market by initiating direct flights to Beijing. Fuller expects that proximity of Dulles will spur expansion along the Route 7 and Interstate 66 corridors that could account for as much as 40 percent to 45 percent of the growth in the region in coming years.  The county has outstanding regional connectivity, too. With the expansion of the Beltway to 12 lanes in NOVA, it has the best road network in the D.C. metro area, and the expected opening of the first phase of Metro’s Silver Line, with four stations  at Tysons Corner and one in Reston, puts the cherry on that Beltway sundae. Construction activity One proof of the importance of connectivity is the construction ongoing at Tysons despite an overall bear market for commercial real estate in NOVA. The fallout from the contraction in government spending has left Fairfax County with 18 million square feet of vacant commercial space. That’s more empty offices than Richmond has in its entire inventory, Gordon says.  Contractor demand for 1.1 million square feet of new office around Fort Belvoir and the Route 1 corridor in southeastern Fairfax, for example, has yet to materialize, with a resultant vacancy rate there of a painful 26.4 percent. In the county overall, the rate is 17.7 percent.  Yet at Tysons, the 526,488-square-foot, 22-story Tysons Tower opened last month, with the professional services firm of Deloitte and the satellite company, Intelstat, already signed up as tenants. The latter is moving its headquarters from the District and bringing more than 400 jobs along with it. Construction also has resumed on the 476,000-square-foot, 18-story 1775 Tysons Boulevard, slated to open in 2016, and Capital One won approval for a massive complex near the McLean Silver Line stop that eventually will include 3.1 million square feet of office space, several apartment buildings, a hotel, restaurants and retail.    “Metro will be transformative for the market,” says Scott Homa, vice president of mid-Atlantic research for the commercial real estate company Jones Lang LaSalle, which tracks vacancy rates. “Public transit is an important box to check for many tenants.” Although Tysons still lacks walkability, Homa expects it eventually will come to resemble the Rosslyn-Ballston corridor in Arlington, with self-contained nodes of multi-use development around each Metro stop. “The demand for the suburban office park is not what it used to be,” he says. Tenants now prefer a walkable model of development, and Reston, the original suburban city, has a vacancy rate of less than 5 percent to prove it. Metro’s new Silver Line station at Wiehle-Reston East will only broaden its appeal. So, for Fairfax County, 2014 is something of a pivotal year. Obviously, things could be better, but, happily, most observers think they will be soon. “Our economy has diversified from an overdependence on federal contracting,” Gordon says, and that lays the groundwork for future prosperity. “Still,’ he admits, “it’s good to have the federal government in our backyard.” 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/CRE_HiltonNorfolkMain.png The Thompson-Lawson partnership is working on a $126 million, Hilton hotel/conference center in downtown Norfolk. http://www.virginiabusiness.com/news/article/a-perfect-partnership A perfect partnership? http://www.virginiabusiness.com/news/article/a-perfect-partnership http://www.virginiabusiness.com/news/article/a-perfect-partnership#When:10:00:00Z It’s nearly impossible to go anywhere on Virginia Beach’s resort strip without seeing the results of a nearly two-decade-long partnership between developer Bruce Thompson and construction executive John R. Lawson II.  Thompson, CEO of Gold Key/PHR Hotels & Resorts in Virginia Beach, and Lawson, CEO of W.M. Jordan Co. in Newport News, have collaborated on 10 major oceanfront developments since the late 1990s, while separately spearheading other large projects throughout the region. Now, they’re taking on the massive renovation of the historic Cavalier Hotel while extending their combined reach into downtown Norfolk where they’ve broken ground on a $126 million, 23-story hotel and convention center. For Thompson, an entrepreneur who never envisioned himself in the development business, and Lawson, the former rector of Virginia Tech’s board of visitors, it’s a productive union of creativity vs. discipline, energy vs. perfectionism and casual chic vs. button-down style. The collaboration comes naturally through a shared vision for Hampton Roads and complementary skill sets that they say lend harmony and balance to their projects. “We each bring something different to the table,” Lawson says. “I bring the construction experience, and Bruce is a great promoter with unusual imagination and creativity.” “John knows the construction business inside and out,” Thompson adds. “He’s a consummate professional in every aspect of construction. He appreciates quality and is not afraid to invest in it.” They grew up in the same time and place. Both were born in 1951 — Lawson is older by three months. Both are Hampton Roads natives — Thompson was raised in Norfolk and Virginia Beach, while Lawson grew up in Newport News.  Both attended Virginia Tech — Thompson left before graduating after opening a sub shop that he later sold to pay debts, while Lawson earned a degree in geophysics. Both started out at the bottom of the ladder and climbed their way to the top. Thompson worked at a Virginia Beach hog farm during the day and tended bar at night before getting into the hotel business in the 1980s.  Today Gold Key Resorts employs about 2,500 people and had about $180 million in revenue last year, according to published reports.  Lawson worked his way up in the family business. His father co-founded W.M. Jordan Co. in 1958, and he began as a laborer pouring concrete on construction sites. These days Thompson and Lawson are firmly ensconced in the executive offices at their respective companies. Last year, Gold Key moved into sparkling fifth-floor corporate offices at 31 Ocean, a mixed-use project that Thompson developed and Lawson built. Sweeping views of the Virginia Beach oceanfront predominate in airy, spotless offices where employees are not allowed to eat at their desks. (A company café is provided as a gathering place.) W.M. Jordan has 300 employees in four offices in Roanoke, Richmond,  Wilmington, North Carolina, and Newport News where its sedate headquarters in a tidy, brick building has been located on Jefferson Avenue since 1960. Behind the headquarters is a community garden where fruits, vegetables and flowers are grown for employees and residents of a nearby group home for developmentally disabled adults. Thompson and Lawson met more than 20 years ago as Thompson was pursuing hospitality projects along the Virginia Beach oceanfront. “We had development opportunities, and W.M. Jordan is a successful builder,” Thompson says. “John and I realized we both have a real commitment to quality people and communities. It was only natural we form a strategic relationship that grew into a wonderful business relationship.” Joking that he brings the “cool factor” to the relationship, Thompson says Lawson’s thorough knowledge of the construction industry drives projects to their completion. “I get a big kick out of a visualized property with a hotel and restaurant on it. I can take that vision to an architect, and he’s the intermediary. From there it goes to John, and he builds it.” Lawson offers similar praise for Thompson. “I’ve always been attracted to quality, and his properties are the best at the beach from landscaping to customer service,” he says. “He’s always thinking, and he comes up with unbelievable ideas. He’s pulled off some things that have caused me to scratch my head and say, how can that be done?” Like rehabbing the 87-year-old Cavalier Hotel. Last year, Thompson, Lawson and other investors formed Cavalier Associates LLC to purchase the 22-acre hotel site for $35.1 million. They’re preparing to renovate the historic structure and construct about 100 homes, while rebuilding its newer, sister hotel into the city’s first full-service Marriott and the first Marriott in Gold Key’s portfolio. The city has agreed to kick in $18 million for the project, which is expected to take two years to complete. “It’s a great way for us to give back to the community,” says Thompson. “We both appreciate the history of the area and being able to look in the rearview mirror and influence the way development takes place in the community in which we were raised.” Thompson didn’t realize how much people revered the stately hotel until a liquidation sale of its contents. “Six thousand people stood in line three days in a row to buy a doorknob, a room key, pieces of wallpaper, a Gideon Bible,” he notes. “That’s how important the building is to the community. It’s a big responsibility, and we’re taking it very seriously.” There could be some new amenities. Thompson wants to bring horses and a bourbon distillery to the property. The multi­­­­­­­­­­­faceted project offers a set of challenges neither partner has encountered before. “The Cavalier is as tough as it comes,” says Lawson. “That’s a tough building to conserve and restore, but we’ll get there, and it will be something everybody can be proud of and admire.” As scaffolding goes up on The Cavalier, Thompson and Lawson also are overseeing construction on the new hotel and convention center in downtown Norfolk, a public/private initiative. Slated to open in 2016, the 294-room Hilton Norfolk at the Main will offer 24 luxury suites, views of the Elizabeth River, a 120-foot-tall atrium and parking in a 600-space garage. Revenue from the parking system will cover the cost of the garage while a 1 percent tax on meals and lodging will cover the debt service on the conference center. Other perks? Convention-goers will meet in one of the most technologically advanced meeting facilities in the country. Exchange at the Main, as the meeting center will be called, will be designed to accommodate government and defense contractors’ strict security specifications. It will include a 50,000-square-foot ballroom to accommodate 1,500 people, the largest meeting space in Norfolk. In their free time, visitors can relax in a rooftop entertainment venue, a seafood bistro on the first floor or an Italian-inspired restaurant on the second floor with a wine lounge and piano bar.  A reclaimed chandelier from the Cavalier Hotel ballroom will hang in the restaurant’s dining room. “It’s far more than a hotel and conference center,” Thompson says of the project. “It’s both a place maker and a market maker. The city sees this as a transformational element at the corner of Granby and Main.” The project’s design, from the Atlanta-based architecture firm of Cooper Carry, will preserve the facades of adjacent buildings — a byproduct of Thompson’s creativity, says Lawson. “He’s very visionary and innovative. He’s always thinking.” So much so that Lawson frequently receives emails from Thompson long after most people have retired for the night. “I can get an email from him at 2 in the morning as easily as 5 in the morning.” He doesn’t mind, though. “We push each other to get better and find new ways to build projects and add unique features while adhering to difficult budgets.”  That, says Thompson, is the key to the duo’s success. “We don’t nickel and dime jobs. We both believe the customer sees and realizes quality and is willing to pay for it. Every project we’ve done, we’ve pushed ourselves and raised the bar to another level.” Hampton Roads business leaders welcome new developments from the duo. “Everyone I know in the business community is thrilled to have world-class, high-end, mixed-use properties throughout the region,” says Scott Adams, regional president of CBRE. “The quality of what they’re doing raises the bar and shows other potential investors in Hampton Roads what’s happening.” Some people in the local hospitality industry are concerned that the new Norfolk Downtown Hilton will take away business from other nearby hotels. Such concerns aren’t unfounded, notes Adams. “Nice and new generally wins. But it will set a higher-level option that may attract clientele that wouldn’t previously have come to downtown Norfolk.” While new projects get underway, Thompson and Lawson’s latest venture — the 168-room Oceanfront Hilton Garden Inn — is enjoying its first summer season. The $50 million hotel opened for business Memorial Day weekend. “It’s truly the nicest Hilton Garden Inn in the franchise,” Thompson said of the Atlantic Avenue hotel at 33rd Street which includes two swimming pools, two restaurants and a parking garage.   Thompson and Lawson’s previous hotel under the Hilton brand — the 31st Street Hilton — opened in 2005.  To date, it’s Lawson’s favorite of the projects he’s completed with Thompson.  “It was an asphalt parking lot,” he recalls. “We turned it into a high-quality, full-service hotel and park and donated the King Neptune statue and stage to the city. It increased visitation and created additional revenue for the city. That was an absolute homerun.” Their first project was Boardwalk Resort & Villas. Their most challenging, according to Thompson, was 31 Ocean. “It was a mixed-use project on a small site and a tight schedule in Virginia Beach in the middle of the summer. However, he adds, those challenges will likely pale in comparison with The Cavalier’s renovation. “I believe it will be trumped by the old Cavalier Hotel.” While Thompson and Lawson have had a golden touch with most of their projects, Virginia Beach City Council cast aside their latest high-profile plan to shape the oceanfront. W.M. Jordan had submitted a public/private proposal to build a sports and entertainment arena, with the city and state paying $187.5 million of the costs and the city liable for the facility’s $262.5 million annual debt service over 25 years. However, council opted to go with a privately financed bid by United States Management, contending that it would pose the least risk to taxpayers. “If they don’t reach an agreement with them, we hope they’ll come back to us,” Lawson says. “It’s appealing to be financed by the private sector, but the city loses a certain amount of control in operating it. If the city owns it, it can create its booking and entertainment policy that would work for the city and the region.” Aside from working together, Thompson and Lawson each continue to scope out major projects. Thompson is pursuing real estate opportunities on North Carolina’s Outer Banks and has expressed interest in developing Rudee Loop at Rudee Inlet, which he calls the most valuable property in the mid-Atlantic region. He believes that construction of an arena will spur development of the parcel, and whatever is built should bookend The Cavalier. “We need to have a first-quality unique development at each end of the oceanfront district. The vision has to be broader than just building a hotel, time-share and restaurant, but if that’s what they (the city) want to do, I’ll compete for it.” Lawson, meanwhile, is overseeing construction of the $250 million Tech Center at Oyster Point, a 44-acre, mixed-use development in Newport News next to the Thomas Jefferson National Accelerator Facility. On this project, W.M. Jordan is partnering with Virginia Tech, Jefferson Lab and the city of Newport News. “This will be something that will have lots of area for thinking and congregating to get these very bright people to share ideas,” he says. Tech Center is nearly 90 percent leased with restaurants and stores such as P.F. Chang’s and Whole Foods.  Monarch Bank also plans to locate its Peninsula office there. The first stores are expected to open in July 2015. With the marriage of research and entrepreneurship, Tech Center represents a new kind of development for Hampton Roads. “The ultimate satisfaction in business is having a dream and seeing it become a reality,” says Lawson. So far, for Lawson and Thompson, those dreams have included oceanfront developments, the chance to rehabilitate a grand old dame and the opportunity to leave a lasting legacy in downtown Norfolk, undoubtedly catalysts to continue their profitable partnership. Or as Lawson says, “Construction and development is the ultimate team sport.” 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/SPORTS_Northwestern-players.png Northwestern University football players AP Photo/Charles Rex Arbogast http://www.virginiabusiness.com/news/article/student-or-employee Student or employee? http://www.virginiabusiness.com/news/article/student-or-employee http://www.virginiabusiness.com/news/article/student-or-employee#When:10:00:00Z In pep talks, football coaches like to say, “There is no ‘I’ in ‘team.’ ” No coach, however, ever intended for a team to bond in the way Northwestern University football players did — they could become the first unionized athletes in college sports. In March, a regional office of the National Labor Relations Board ruled that Northwestern players could collectively bargain as university employees. At Northwestern’s request, the NLRB is reviewing the decision. In Virginia, right-to-work laws, which permit employees to avoid joining a union, may limit potential effects of the Northwestern decision. Similarly limiting is the fact that the NLRB’s jurisdiction extends only to private employers and not to public institutions — or public schools. But Virginia legal experts are awaiting the final ruling — and likely future court challenges — with a mixture of bemused skepticism and nervousness. Meanwhile, the National Collegiate Athletic Association recently reached a $20 million settlement with current and former college football players for the use of their names and likenesses in video games. (A number of Virginia state and private university athletic programs were contacted for comment but declined or did not return calls. Similarly, multiple calls and emails to the College Athletes Players Association, the organizing body that petitioned the NLRB on the Northwestern players’ behalf, went unreturned.) Many sports and labor law experts tend to agree that the College Athletes Players Association will stick around to try again, regardless whether it succeeds in unionizing  Northwestern players. “I read the [NLRB] regional director’s opinion and — I’m even a sports fan — and I had no idea the amount of control the university had over these players pretty much year ’round,” says Ann Hodges, a law professor at University of Richmond and an expert in employment and labor law. “You go here. You can do this. You can’t do this. You eat here. You wear this. There’s some NLRB precedent. The statute has a very broad definition of employee.” In addition to her interest in labor law, Hodges happens to be a member of the Illinois bar. Because the university is based in Evans­ton, Ill., the Northwestern case eventually could end up in court in the Land of Lincoln should the players vote to unionize and then the university ignore an NLRB order allowing that union. Hodges believes such a reaction is highly likely. The decision recognizing players as employees is “sort of unprecedented as they’re considered amateur athletes,” she says. “There are going to be some very interesting issues that come out of all that with the [National Collegiate Athletic Association, the governing body for college sports]. I don’t imagine this is going to end any time soon. Even if [players] win the election [formalizing the union], Northwestern is going to ... try to get the issue into the courts.” And for good reason. At stake potentially are tens of millions of dollars — often tied directly to the names or images of high-profile student athletes — that currently go straight into the purses of schools with big-name athletic programs. 2000 ruling on TCU player Hodges may see the challenge to these players’ amateur status as new legal territory, but Vernon Inge, a partner with LeClairRyan who specializes in sports law, says there is a precedent. Before 2000, the issue of whether scholarship football players were employees of universities was an open question, says Inge, an adjunct professor at the University of Richmond who also lectures on sports law in VCU’s sports business master’s program. That’s the year a Texas Court of Appeals upheld a jury verdict finding that former Texas Christian University player Kent Waldrop was not eligible for workers’ compensation as a result of the paralyzing injury he suffered in a 1974 game. Now, with the basic assumptions used in that ruling in question, “basically the implications are really, really big,” Inge says. Noting, as Hodges does, the hours — often far in excess of 40 per week — Northwestern players spend on football, and considering that the sort of compensation they receive in the form of scholarships, Inge says, “really it’s kind of hard to say they’re not [employees].” If you look at the standard test for employees — direction for what to do from the college management, the coach — they get a pretty high degree of [compensation].” And Inge questions the basis of the Texas court’s decision in the Waldrop case, which relied heavily on the hardly impartial NCAA’s justification for why scholarship players aren’t employees. “The court basically said, ‘Well, the NCAA says they’re not employees, so they can’t be employees’ — they basically deferred to the NCAA,” he says, which is what makes the Northwestern case so interesting, since that deference seems no longer to hold sway. “There’s lots of implications, and if [football players at Northwestern] can unionize, then they can unionize in Virginia — it just has a little bit different implication,” says Inge, who also believes the NLRB ruling could affect even public institutions. “It could definitely apply to a public school. If they’re employees of the school, they’d be employees of the school at University of Virginia or at whatever private school. It shouldn’t make a difference if it’s public or private.” Limited effect? On this point, again, legal experts disagree. George Rutherglen, an employment law expert and professor at the University of Virginia School of Law, suggests the ruling not only won’t affect public schools or Virginia schools, but that its implications for private schools might also be limited once student athletes try to flex whatever newfound bargaining muscle they might gain from a favorable NLRB ruling. First up is whether the Northwestern players even unionize, as the NLRB ruling says only they may, and no votes have yet been tallied. (The players voted in late April on forming a union, but the results of that election will not be disclosed unless the NLRB sides with the players.) “I would be surprised ... if the athletes voted to unionize after they realized they were effectively transforming their status from students into employees, but I’m surprised by many things,” Rutherglen says. But, “suppose I’m wrong, and suppose they have a collective bargaining representative, and then they enter into negotiations with the university,” he says. “The university faces a lot of competition in the Big Ten [Conference], and I believe there is only one other private university in the Big 10 [affiliate member Johns Hopkins University for men’s lacrosse]. Public universities are not subject to the jurisdiction of the NLRB, so that Northwestern’s football team, if unionized, would be competing with [now 13] other nonunion teams in what is a very competitive sport. I don’t think the union can get much in the way of benefits from the university.” The money factor Aside from the effects the NLRB ruling could have on the field, there also is the effect it could have on a school’s revenue stream. Virginia Commonwealth University, George Mason University and University of Richmond, all of which were contacted for this article, belong to the A-10 Conference, which in October 2012 signed a $40 million eight-year deal to televise basketball games. The 16 schools in the conference would split that take. The A-10 contract, however, is dwarfed by multibillion-dollar TV deals arranged by the Southeastern Conference and the Big Ten. USA Today estimates that each SEC school could receive nearly $34 million in the 2014-15 academic year. In early June, a federal court trial began in California on an antitrust lawsuit against the NCAA seeking to win college players a share of money coming from television contracts. On the day the trial began, the NCAA settled a separate suit for $20 million over the use of players’ likenesses and images in Electronic Arts video games. With big dollar signs floating around the issue, it might at first blush seem only logical that college players should want a piece of the action. Rutherglen cautions, however, that getting their wish may not pay big the way those players might hope. “The first reason is they will suffer some immediate costs in identifying themselves as employees, namely, all of the benefits they receive from the university in the form of payment of any kind will become taxable,” he says. “So instead of getting a tax-free scholarship, they’re going to end up with taxable wages. I believe the change in status from students to employees has a lot of adverse consequences for them.” One consequence, he suggests, might be that universities, now potentially faced with spiraling pro-size salaries to recruit the best players, begin to weigh the costs and benefits of maintaining marquee sports programs at all. “My speculation would be that if the players unionize, the football program at Northwestern would suffer in many ways — and the university might try then simply to close it down because it could simply no longer compete,” Rutherglen says. He cites as an example the effect of unions on the U.S. textile industry, which eventually saw many manufacturers taking their operations overseas in search of lower labor costs. “I think it would make the major revenue-producing sports much less attractive to private universities. They’d have to make a decision right up front whether they were going to invest more money and deal with the players’ unions.” But what also might happen, Hodges suggests, is that the ability to offer better benefits packages to unionized employee/players could make some private schools more attractive to the best players, making already powerhouse private schools (such as Duke in basketball) nearly unstoppable. That is, she says, unless “the nonunion employers start paying the same benefits and wages in order to keep their people and to keep them from unionizing.” In the end, she suggests, “maybe you end up with something like Minor League Baseball.” Whatever the long-term effect of the ruling might be on college sports, one thing seems certain, should the NLRB ruling stand. Even if the Northwestern players return a “no” vote on unionizing, says Inge, the issue is now in play, and it’s likely to be a long game with extra time on the clock. “The union group that was formed will go straight to another university and start the process again,” Inge says. “And they have that ruling. Somewhere, athletes are going to unionize unless that ruling is changed.” 2014-06-28T10:00:00+00:00 http://www.virginiabusiness.com/uploads2/Swartzwelder9008.png http://www.virginiabusiness.com/news/article/the-digital-divide The digital divide http://www.virginiabusiness.com/news/article/the-digital-divide http://www.virginiabusiness.com/news/article/the-digital-divide#When:10:00:00Z Want to take a trip back through time? Try getting on the Internet in a rural county. In King and Queen County, where the county government installed a fixed, wireless broadband network last year, County Administrator Tom Swartzwelder says, “This county was dial-up before we put [the county wireless broadband] in, basically. You’re taking people from the cart and horse to a Porsche. You’re skipping the Model A and everything in between. If you lived in a dial-up world, how little would you use the Internet? … They still think of the Internet as the inconvenience of dialup, sitting and waiting for pages to load.” In rural areas where high-speed Internet availability is spotty at best and may not even be easily available via cellular networks or satellite dishes, there is a growing digital divide. Low-income, disabled, elderly or less educated residents frequently don’t understand what broadband is or that it can be used for more than just Facebook and Netflix. “A lot of folks don’t know all the things they can do with broadband, especially as you move into the rural areas,” says Sandie Terry, broadband program manager for Virginia’s Center for Innovative Technology (CIT). “In these rural areas … people say, ‘I have dialup; it takes care of my email, and that’s all I need.’” A nonprofit corporation based in Herndon, CIT supports economic development of technology-based endeavors in Virginia. CIT partnered with King and Queen County earlier this year to launch a federally funded pilot study aimed at increasing broadband adoption and awareness of the benefits of high-speed Internet among rural residents. In April CIT conducted a direct-mail survey of 534 King and Queen households (out of the 2,900 total in the county), collecting information about residents’ computer use, digital literacy and awareness of broadband. According to preliminary data from the survey, just 68 percent of parents of elementary school students surveyed reported having home Internet access. Furthermore, 17 percent of respondents said they didn’t own a home computer. The top reasons cited for not having a computer were expense (47 percent) and not knowing how to use one (29 percent). King and Queen’s 6,945 residents are widely dispersed throughout the 72-mile-long, 15-mile wide county, which is largely made up of farmland and timberland. King and Queen had tried for some time to entice a telecommunications company to bring high-speed Internet to the county, but companies said the market wasn’t big enough and installing a network would be cost-prohibitive. Federal grants for rural broadband were a no-go because the county was considered too close to a metro area, being about 60 miles from Richmond. Creating its own system Eventually the county decided to form a wireless service authority and install its own high-speed wireless broadband network, piggybacking onto towers being built to upgrade the county’s emergency communications system network. “No free-market provider was willing to come in and build the infrastructure here,” says Swartzwelder. “The Board of Supervisors felt they had to step in and provide this service to citizens and businesses and school-age children.” The school system already has benefited from the new county broadband system in multiple ways, including being able to conduct more online Standards of Learning tests simultaneously. “The Internet speeds are more robust, so we’re able to leverage the accessibility of information in ways we weren’t always able to do,” says Superintendent Stanley Jones. The county broadband network covers about 75 percent of the county, and officials hope to have the rest of the county covered by 2015. However, only a few hundred homes out of a total of 2,900 are taking advantage of the county broadband so far, and the adoption rate has stalled. In King and Queen, where the population is aging, digital infrastructure can be crucial to a community’s long-term survival and to its residents’ quality of life, Terry says. “When we’re talking about the digital divide, it is real, and it’s going to grow exponentially,” she says. Communities with high-speed Internet and more access to technology will succeed educationally and economically, in addition to being able to provide better health-care and government services. Lack of broadband and lack of technologically savvy workers also harms the real estate market and economic development, Terry adds: “They’re going to lose the tax base; they’re going to become older. All of their community assets are going to suffer.” Managing illness Additionally, being tech literate can save money. Studies have found that savvy shoppers can save as much as $10,000 a year by comparing prices and shopping online, Terry says. “We’ve got to push out digital literacy training to more of our senior organizations. … Seniors are going to be a key focus of the programs we put in place in King and Queen.” Bay Aging President and CEO Kathy Vesley-Massey participates in King and Queen County’s broadband work group and agrees that more education is needed. Her Urbanna-based nonprofit provides services to senior citizens in the Northern Neck and Middle Peninsula that include free computer literacy classes at its 10 senior centers. In addition to helping seniors combat social isolation by connecting with friends and family via Facebook or Skype, broadband can be even more important for seniors by helping them manage chronic illnesses. “Most of the health-care systems now have some form of patient navigator. You can go online and get all your health records … access what the doctor’s discharge plan was for you, access when your follow-ups are,” Vesley-Massey says. “The tools that are available online are just really, really important to these senior populations.” “From a social services perspective, so much of our business is going online as well … SNAP benefits, Medicaid,” says King and Queen Department of Social Services Director Betty Dougherty. She also chairs the King and Queen Resource Council and is part of the broadband work group. “With our county being so geographically spread out, they don’t have to drive into social services and fill out a paper application. They can go online and put in their information … and even do a pre-application screening before they submit for benefits.” CIT plans to submit its full report and recommendations to the volunteer King and Queen County broadband work group by July. Some of those recommendations could include programs to refurbish old computers and distribute them to the elderly and needy, Terry says. Other initiatives could include more digital literacy training and also working with the county government to ensure it’s making the best use of its online assets, such as posting relevant information on its municipal website and providing online payments for tax bills and county fees. “People say, ‘Well how much broadband do we really need?’ but … we’re going to have more and more devices in our homes connecting to the Internet, so the bandwidth has to come up,” Terry says. “If you consider rural areas where someone’s depending on satellite or 4G mi-fi, that’s not going to sustain those people long. They’re going to end up wanting and needing more bandwidth and if they can’t get it in those areas, they’re going to move out.” 2014-06-28T10:00:00+00:00