Capital Business Blog

Nuclear Regulatory Commission acknowledges leasing too much space in White Flint

Jonathan O'Connell — Wed, 22 May 2013 17:27:38 GMT

Another federal agency has acknowledged leasing more space that it needs.

The Nuclear Regulatory Commission has long occupied two office buildings in White Flint, along Rockville Pike, and in 2009 agreed to lease an entire third building next door, 3 White Flint, at 11601 Landsdown S. in North Bethesda.

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Amazon Web Services to add 500 jobs in Fairfax

Steven Overly — Wed, 22 May 2013 15:14:00 GMT

Amazon Web Services plans to add 500 I.T.-focused jobs in Fairfax County and open a new office in Herndon, economic development officials there announced Wednesday.

In return, the Virginia Department of Business Assistance will offer the company money and services to help recruit and train workers. Gov. Bob McDonnell (R) approved a $500,000 grant from the Governor’s Opportunity Fund to help make the project happen.

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National Labor College considering sale of White Oak campus to Reid Temple church, housing group

Jonathan O'Connell — Tue, 21 May 2013 22:40:24 GMT

National Labor College President Paula E. Peinovich announced Tuesday that the college had signed a tentative agreement to sell its 47-acre campus in White Oak to a partnership between Reid Temple African Methodist Episcopal Church and the Housing Opportunities Commission of Montgomery County.

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D.C. government sues Department of Labor over CityCenterDC wages

Jonathan O'Connell — Tue, 21 May 2013 20:57:24 GMT

The District government sued the Department of Labor Monday, seeking to overturn a ruling requiring higher wages for the construction of CityCenterDC as well as possibly other city economic development projects.

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Private equity giant Blackstone buys $241.5 million in Washington-area industrial properties

Jonathan O'Connell — Mon, 20 May 2013 16:53:19 GMT

An affiliate of Blackstone Group, the New York private equity firm, will buy 23 industrial properties in Virginia, Maryland and the District as part of a sell-off of local property by Bethesda-based First Potomac Realty Trust.

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Hillen to step down as Sotera CEO

Marjorie Censer — Thu, 16 May 2013 19:30:37 GMT

McLean-based Sotera Defense Solutions said Thursday that John Hillen will step down as the company’s chief executive and become vice chairman of the company’s advisory board.

The contractor’s board has begun searching for a new CEO, according to the announcement.

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Regal Cinemas, Harris Teeter agree to open at former Laurel Mall

Jonathan O'Connell — Tue, 14 May 2013 16:36:34 GMT

The developers who began tearing down Laurel Mall last summer announced Tuesday four prominent tenants for what will replace it, namely a Regal movie theater, Harris Teeter, Sports Authority and a new Burlington Coat Factory.

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National Cathedral, Mount Vernon win $100,000 through social media contest

Jonathan O'Connell — Mon, 13 May 2013 15:21:58 GMT

The Washington National Cathedral will receive $100,000 to fix damage remaining from the August 2011 earthquake after winning a social media contest put on by the National Trust for Historic Preservation and the American Express Foundation.

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Foodem raises $600K from investors

Steven Overly — Mon, 13 May 2013 11:00:00 GMT

Foodem has raised $600,000 from investors as the start-up continues to build a Web site where restaurants, hotels and other bulk food buyers can place their orders for fish, beef, vegetables and other items.

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How do you keep a business innovative?

Steven Overly — Wed, 08 May 2013 17:26:06 GMT

The Northern Virginia Technology Council held its annual Destination Innovation event at The Washington Post on Monday, inviting 20 companies of all sizes to present their latest creations to an audience of technology enthusiasts.

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Gov. McDonnell, under watch by the FBI, invites it to relocate to Springfield

Jonathan O'Connell — Mon, 06 May 2013 19:24:56 GMT

The Federal Bureau of Investigation is looking into the relationship between Virginia Gov. Robert F. McDonnell and a major campaign donor, but that does not mean the governor isn’t interested in convincing the FBI to relocate its headquarters to the commonwealth.

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SAIC sells Tysons Corner property to Bethesda developer Meridian Group

Marjorie Censer, Jonathan O’Connell — Mon, 06 May 2013 11:07:00 GMT

McLean-based Science Applications International Corp. announced Monday that it has agreed to sell its 18-acre Tysons Corner campus to a Bethesda-based real estate firm, the Meridian Group.

The step is SAIC’s most dramatic since the contracting giant announced last summer that it would split into two public companies — a government services company that will retain the SAIC name and a technology company that will be called Leidos, clipped from the word kaleidoscope.

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Raytheon bases new intelligence unit in Sterling

Marjorie Censer — Thu, 02 May 2013 18:20:19 GMT

Waltham, Mass.-based defense contractor Raytheon said Thursday that its newly formed intelligence, information and services business will establish its headquarters at the company’s existing Sterling office.

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Marriott reports 31% increase in quarterly profits, but sequestration hitting some hotels

Abha Bhattarai — Wed, 01 May 2013 22:12:35 GMT

Hospitality giant Marriott International reported a 31 percent increase in first-quarter profits, even as the federal government continued to cut back on conferences and meetings.

The Bethesda-based company said Wednesday that its profits rose to $136 million, or 43 cents per share, up from $104 million, or 30 cents per share in the same quarter last year.

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Penn Branch Shopping Center headed to foreclosure

Jonathan O'Connell — Wed, 01 May 2013 18:17:44 GMT

Penn Branch Shopping Center, a mix of shops and D.C. government offices that has long been envisioned for redevelopment, is facing foreclosure and headed to auction next week.

The developer, ICG Properties, bought Penn Branch in December 2005 and spent nearly eight years working with residents and elected officials to upgrade the dated center, spending nearly $500,000 on designs and plans along the way.

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Wal-Mart invites local business to join it on Georgia Avenue

Jonathan O'Connell — Tue, 30 Apr 2013 19:12:43 GMT

Get your applications in.

Today is the deadline for small retailers, local shop owners and other entrepreneurs to apply for space alongside the world’s largest retailer in what could be its first D.C. store.

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Michael Chasen launches new venture: SocialRadar

Steven Overly — Tue, 30 Apr 2013 17:33:41 GMT

The next venture from Blackboard co-founder Michael Chasen has surfaced: SocialRadar, a start-up “developing leading-edge technologies in the mobile, social and location space.”

Chasen did not respond to requests for comment and details about the District-based company are spare. Chasen describes himself on LinkedIn and several other online profiles as president and chief executive of the company.

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GSA plans to sell Southeast warehouse where residents want “Half Street Market”

Jonathan O'Connell — Thu, 25 Apr 2013 21:53:24 GMT

Federal officials say they no longer need a vacant warehouse in Southeast D.C. near the Nationals Park and a group of nearby residents are pushing the District government to acquire it for redevelopment into a food market and job training center.

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Goodwill of Greater Washington earns initial approval to oversee training program for jobs at Marriott Marquis

Sarah Halzack — Thu, 25 Apr 2013 19:58:21 GMT

Events DC has selected Goodwill of Greater Washington to lead an effort to train, recruit and screen D.C. residents for as many as 600 jobs at the Washington Marriott Marquis convention center hotel slated to open in 2014.

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The Tysons Corner Wal-Mart has a sculpture in front of it called “The Thought”

Jonathan O'Connell — Wed, 24 Apr 2013 19:54:10 GMT

Wal-Mart stores are known to elicit strong opinions, both from people who love their low prices and those who loathe some of the chain’s business practices.

Whatever the angle of your contemplation, the Tysons Corner Wal-Mart has the thing for you: a metal sculpture in front of the store being built on Spring Hill Road named “The Thought.”

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After 28 years, Kid’s Closet to close on Conn. Ave.

Abha Bhattarai — Wed, 24 Apr 2013 19:45:36 GMT

After 28 years, Kid’s Closet is closing the doors to its Connecticut Avenue store in Northwest Washington.

Shopowner Lew Tipograph says the economic downturn and changing demographics of the Golden Triangle neighborhood have made it increasingly difficult to stay afloat. Today is the store’s last day.

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Abha Bhattarai — Wed, 24 Apr 2013 19:45:36 GMT

After 28 years, Kid’s Closet is closing the doors to its Connecticut Avenue store in Northwest Washington.

Shopowner Lew Tipograph says the economic downturn and changing demographics of the Golden Triangle neighborhood have made it increasingly difficult to stay afloat. Today is the store’s last day.

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Trump’s design for Old Post Office earns early approval

Jonathan O'Connell — Wed, 24 Apr 2013 17:03:33 GMT

The U.S. Commission of Fine Arts gave an initial thumbs-up to Donald and daughter Ivanka Trump’s design for the redevelopment of the Old Post Office into a 271-room luxury hotel last week.

The Trumps have been meeting with local historic preservation and planning officials to agree on changes to the building that will allow it to stand out for luxury travelers but retain its historic features and remain a place where the public can ride up and see sterling views of Washington from the building’s clock tower.

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Lockheed IS&GS unit has trimmed more than 650 employees this year

Marjorie Censer — Tue, 23 Apr 2013 13:41:29 GMT

Lockheed Martin’s Gaithersburg-based information systems unit cut more than 650 employees in the first quarter of the year, company officials confirmed Tuesday.

The contractor had offered a voluntary layoff initiative to about 4,000 mid-level managers in February. The company confirmed earlier this year that about 240 employees left the company through the voluntary layoff program.

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Strathmore plans to open small music venue in White Flint

Jonathan O'Connell — Mon, 22 Apr 2013 19:45:04 GMT

The founder of the Strathmore music hall announced plans Sunday to open a new performance venue in White Flint as part of a real estate development dubbed Pike & Rose.

The new venue will have 250 seats, small compared to the Music Center at Strathmore, in North Bethesda, which has 1,976 seats.

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