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Norfolk medical device firm receives additional $2.5M from DARPA
Funding will support development of implantable orthopedic medical device.
The Defense Advanced Research Projects Agency (DARPA) has awarded $2.5 million in non-dilutive funding to Norfolk-based medical device manufacturer Embody Inc. for the second phase of development and clinical assessment for its proprietary Microbrace ACL technology for the repair of anterior cruciate ligament (ACL) injuries, the company announced Tuesday. Embody previously received $11.85 million for
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Pamunkey tribe, city sign Norfolk casino agreements
Tribe has option to purchase 13.4 acres by Elizabeth River for $10 million.
The city of Norfolk and the Pamunkey Indian Tribe announced Monday that the tribe’s proposed $700 million casino along the Elizabeth River is moving closer to reality. According to a tribe press release Monday, the Pamunkey and the city have signed two agreements: an option to purchase 13.4 acres of undeveloped city property adjacent to
Olive oil manufacturer pays $5M for Suffolk plant
Acesur USA LLC bottles olive oil brands such as Coosur and La Española.
International olive oil manufacturer Acesur USA LLC purchased an 87,870-square-foot, two-story manufacturing facility in Suffolk for $5.025 million, Cushman & Wakefield | Thalhimer announced Thursday. Acesur has been producing, packaging and marketing olive oil since 1840 and is headquartered in Dos Hermanas, Seville, Spain. It bottles olive oil brands such as Coosur and La Española
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Portsmouth industrial contractor buys parcel for $2.55M
W.F. Magann Corp. purchased the parcel on the site of former BASF chemical plant.
Portsmouth-based general contracting firm W.F Magann Corp. purchased the final four acres of what was formerly a 44-acre major industrial parcel in Portsmouth for $2.55 million, real estate company Colliers International announced this week. Magann specializes in heavy marine, industrial and concrete construction. The site at 3340 W. Norfolk Rd. is located one mile from
Oyster Point Park property in Newport News sells for $1.08M
The property is located in the business district and spans 1.37 acres.
A property in Newport News’ Oyster Point Park was sold for $1.08 million, Cushman & Wakefield | Thalhimer announced this week. BH Commercial Properties LLC bought the 15,118-square-foot office/warehouse building at 812 City Center Blvd. from Chesterfield Properties LLC, operating as Extreme Restoration Inc. The 52-acre Oyster Point Park is located in the business district
Norfolk office building sells for $4.1M
The two-story building is in the Norfolk Industrial Park.
Norfolk-based Azalea 888 LLC purchased a two-story office building in Norfolk Industrial Park for $4.1 million, Cushman & Wakefield | Thalhimer announced Wednesday. Azalea 888 purchased the property at 1151 Azalea Garden Rd. from Roseville, Calif.-based Asset Preservation Inc. in a deal that closed on Jan. 7. The 54,986-square-foot Class B office building sits on
Dominion chooses turbine supplier for $7.8B offshore wind farm
Spanish engineering firm Siemens Gamesa will supply the 600-foot-tall turbines.
Richmond-based Dominion Energy has selected Spanish renewable energy engineering company Siemens Gamesa Renewable Energy S.A. as the preferred turbine supplier for its proposed $7.8 billion offshore wind farm off the coast of Virginia Beach, Dominion announced Tuesday. Dominion announced plans in September 2019 to build a 220-turbine wind farm 27 miles off the coast of
Hampton retail property sells for $2.2M
Hampton-based Long76W LLC bought a 12,752-square-foot retail property in Hampton for $2.2 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Monday. The property was 100% leased to Safelite Auto Glass and West Marine at the time of the sale of 2121 W. Mercury Blvd., and was owned by Virginia Beach-based KLS Hampton LLC.
InMotion Hosting buys Va. Beach offices for $8.5M
Company announced it would invest $12.2M to expand local presence
Web hosting company InMotion Hosting has purchased a Virginia Beach office building previously occupied by Stratford University for $8.5 million, Cushman & Wakefield | Thalhimer announced Monday. InMotion Hosting bought the a 61,528-square-foot class A office property from Campus Realty Virginia Beach LLC. The for-profit Stratford University closed its Virginia Beach, Newport News and Glen
Newport News medical device company appoints new CFO
ivWatch also hires new chief marketing officer and sales vice president.
Newport News-based medical device company ivWatch LLC announced three executive appointments on Monday, including Teresa “Terry” Blevins as chief financial officer, Erin Wendell as chief marketing officer and Paul Stoddard as vice president of sales. Blevins has more than 30 years of experience in financial planning and most recently worked as CFO for Hampton-based defense