Genworth files for mortgage insurance biz IPO
Genworth Mortgage Holdings Inc. subsidiary may go public by mid-summer
Henrico County-based Fortune 500 insurer Genworth Financial Inc. filed paperwork with the U.S. Securities and Exchange Commission Monday for a proposed initial public offering of the company’s mortgage insurance business. J.P. Morgan and Goldman Sachs & Co. LLC will serve as joint book-running managers for the proposed offering of Genworth Mortgage Holdings Inc. (GMHI), a
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COVID roundup: Va. now offering vaccines to everyone age 16+
More than half of all adults in state have gotten a shot
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All Virginians age 16 and up are now eligible for the COVID-19 vaccine, which you may have heard Monday morning in a loud public safety alert sent to smartphones by the Virginia Department of Health. All U.S. states met President Joe Biden’s April 19 deadline to expand vaccine eligibility for all adults, regardless of job,
Virginia Beach office property sells for $1M
Building to serve as future headquarters for Canzell Realty
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CR Assets LLC has purchased a 5,040-square-foot office building in Virginia Beach for $1 million, Cushman & Wakefield | Thalhimer announced on Monday. Located at 4598 Broad St., the building will serve as the future corporate headquarters of Canzell Realty. It was sold by Broad Street Associates. The sale closed on April 8. Rob Wright
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Dominion no longer pursuing second Richmond office tower
Utility cites gas business sale, working from home as reasons
Published
Dominion Energy Inc. no longer plans to pursue a second office tower in downtown Richmond. Last week, the Richmond-based utility notified the city that it no longer plans to pursue construction of 700 Canal Place, a proposed 17-floor office tower that would complement 600 Canal Place, a 960,000-square-foot, 20-floor office tower that opened in 2019.
Staunton manufacturer to expand, create 31 jobs
Ryzing Technologies designs, makes textile-based engineering solutions
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Ryzing Technologies LLC, a designer and manufacturer of textile-based engineering solutions, will expand its facility in Staunton, creating 31 jobs, according to an announcement Friday from Virginia Gov. Ralph Northam. Ryzing is investing $149,000 in the expansion of the facility, which specializes in engineered textiles, rigid inflatable structures, and rapid prototyping. Its customer base includes
Va. unemployment stayed steady in March
State's 5.1% unemployment rate was 2.5 points above March 2020
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Virginia’s seasonally adjusted unemployment rate remained above 5% in March, dropping just 0.1 percentage points below February’s jobless rate. March’s 5.1% unemployment rate was 2.5 percentage points above March 2020’s rate. Virginia contends to trend lower than the nation, however. The U.S. unemployment rate for March was 6%. “Virginia’s unemployment rate is steadily improving and
Former Roanoke Boy Scouts building sells for $1.2M
Poe & Cronk facilitated sale of 11,185-square-foot building
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The former Boy Scouts of America building in Roanoke has sold for $1.2 million. Located at 2131 Valley View Boulevard, the 11,185-square-foot building was purchased by 1501 WW LLC from Blue Ridge Mountains Council Inc. The sale closed on March 3. Matt Huff and Zack May of Poe & Cronk facilitated the sale on behalf
Former Roanoke Johnson & Johnson property sells for $6.26M
Development includes 30+ acres and manufacturing facility
Published
The former Johnson & Johnson Spectacle Lens Group development on more than 30 acres in Roanoke has sold for $6.26 million. Located at 2797 Frontage Road, the property was purchased by Briar Oaks Investments VII LLC from Delta Dental of Virginia. The sale, which included a 146,852-square-foot medical grade manufacturing, office and warehouse facility that’s
$60M Hanover industrial development to begin construction in May
Northlake II scheduled for spring 2022 opening
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A $60 million, five-building industrial development is set to begin construction next month in Hanover County. Northlake II will include approximately 655,000 square feet of Class A industrial space. Construction on the first three buildings will commence in May, with an anticipated completion of spring 2022. The project is being developed by Maryland-based Matan Cos.;
NoVa housing market remains hot
NVAR reports 54% increase in month-over-month new contract activity
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Northern Virginia is continuing to see high levels of housing activity, a trend also taking place around the state and around the country. In an April 13 news release, the Northern Virginia Association of Realtors (NVAR) states that March saw a 54% month-over-month increase in new contract activity in the region, with 2,781 new pending
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Branch Civil appoints new executive VP
Brian J. Quinlan hired for leadership role at Branch Group subsidiary
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Brian J. Quinlan has been appointed to serves as executive vice president of Henrico County-based Branch Civil Inc., a wholly owned subsidiary of Roanoke-based the Branch Group specializing in site development, civil construction and heavy highway infrastructure projects. In his new role, Quinlan will be responsible for Branch Civil’s overall financial and operational leadership, as
Economic development consultancy taps Roanoke partner
John J. Smolak joins Sanford Holshouser
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Longtime economic development executive John J. Smolak has joined Sanford Holshouser Economic Development Consulting (SHEDC) as a partner, the Raleigh, North Carolina-based consultancy announced this week. Smolak, who will be based in Roanoke, worked for 25 years with Appalachian Power. He’s well known in the Southwest Virginia region, where he will help the firm expand,
GMU Center for Government Contracting taps two fellows
Center adds Stephanie Halcrow, promotes Eric Lofgren
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The Center for Government Contracting at George Mason University has named two senior fellows, it announced this week. The Fairfax-based center added Stephanie Halcrow, who most recently served on the House Armed Services Committee as a professional staff member, and promoted researcher Eric Lofgren. Halcrow is a graduate of the U.S. Air Force Academy, who
Former counterintelligence official joins Peraton advisory board
Herndon-based contractor taps Bill Evanina
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The former director of the National Counterintelligence and Security Center, William “Bill” Evanina, has joined the advisory board of Peraton Inc., the Herndon-based national security contractor announced this week. Evanina led the counterintelligence center since June 2014, serving under presidents Barack Obama and Donald Trump. He also worked for more than 16 years with the
Opinion
Better times ahead
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Back in the early 1980s, a co-worker of mine and his wife became first-time homeowners. They felt pretty good about getting their new house and signing a mortgage note at a whopping 18% interest rate! By today’s standards, that’s pretty unthinkable. While much time has passed since those days, we’ve had only six new presidents
35 years of storytelling
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My favorite day every month comes when a new issue of Virginia Business lands on my desk. Each magazine tracks emerging economic trends and the ongoing evolution of business leadership in the commonwealth. But for me, the impact is much more than just a good read about important business topics. Each issue of this magazine
The Mailroom: Day of reckoning
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In December, Virginia Business kindly published my letter calling for bipartisan cooperation to seek solutions to key issues facing the commonwealth — COVID, preparing our future workforce, universal broadband and providing better public safety services. I also said business leaders must demand that those seeking political office in 2021 should articulate how they will rise
A moment for change
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Growing up in 1960s and ’70s Virginia, racism was always present, in forms direct and subtle. Each experience carried a message: to “know your place” and stay there. During my years as a student at Dinwiddie County High School, I remember being in the crowd when we hosted majority-Black Petersburg High School for a football