Tag Archives: Business

Dulles World Center residential construction approved

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From Leesburg Today comes word of a Loudoun County committee approval for construction of residential units at Dulles World Center at Sully Road (Rt. 28) and Innovation Avenue:

Although it was far from unanimous, the proposed changes to the phasing of Dulles World along Rt. 28—to accelerate construction of the development’s residential units—have passed the muster of the Transportation/Land Use Committee and are headed to the full Board of Supervisors.

The committee voted 3-2 Friday to forward the application with a recommendation of approval. The action signaled a change from the discussion at the full board last month, when supervisors called the plan a “bait and switch” from what was promised by the developer and a majority of the board indicated they were unlikely to support the changes.

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Dulles World was approved by the previous Board of Supervisors for more than 3 million square feet of office space; a hotel; more than 400,000 square feet of retail; and 1,265 multi-family units. It was pitched as a premier commercial development project that would capitalize on the proximity of the Metro rail stations, with residential units that would appeal to the young professional, thereby limiting the impact on schools and other county resources.

The 1,265 units are planned to be 900 square feet each and are estimated to create approximately 235 new school children for the county.

Edward Jones comes to Franklin Farm

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The investment firm Edward Jones opened an office in Franklin Farm last week. Staffing the office is Lindsay Veleber, an Edward Jones financial advisor. She is assisted by Brenda Vick. The ribbon cutting ceremony was held on June 13th.

Veleber’s office is located in the Franklin Farm Shopping Center, inside the Professional building in Oak Hill,  at the intersection of Franklin Farm Road, and Fairfax County Parkway. The address is 13350 Franklin Farm Rd, Suite 350. Reach the office at (703) 435-1247.

Veleber said “I am excited to be opening a new office for a firm that has built a reputation on serving individual investors, and am eager to help the residents of Franklin Farm, and the surrounding areas, meet their financial goals”.

Ribbon Cutting Grand Opening 6-13-12

“Internet hub” Network Solutions of Herndon purchased

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Herndon, Virginia is famous within the tech world because it is effectively the hub of the Internet. This is because a Herndon-based company, Network Solution, has held a long-standing contract to manage the Domain Name Servers used by the Internet. If you want to create or decommission a web domain, like oakhillva.com, then whether you know it or not it must be updated in the master domain name register published by Network Solutions, Inc.

That is about to change because Network Solutions, which has been doing the work since at least the 1990s, has been acquired in a $405M deal by web.com.

Web.com, a leading provider of internet services and online marketing solutions for small and medium-sized businesses (SMBs), and privately-held Network Solutions, a leading provider of website services, online marketing and global domain name registration focused on the needs of SMBs, today announced the signing of a definitive agreement for Web.com to acquire Network Solutions.

The transaction will create a leading end-to-end online solutions company with a clear path to $500 million in non-GAAP revenues as it focuses on providing web services to SMBs, a market estimated to be larger than $19 billion. Web.com believes its combined company will be positioned to deliver non-GAAP revenue growth in the low teens, with non-GAAP earnings per share and unlevered free cash flow growth in the mid-teens to 20 percent range over the next three to four years as revenue and cost synergies are realized. In particular, under current debt pricing terms, the transaction is expected to be at least 20 percent accretive to the $1.22 per share current First Call consensus estimate for 2012, with significantly greater accretion in 2013.

Under the terms of the agreement, upon the closing, Web.com will pay Network Solutions $405 million in cash and issue 18 million shares of Web.com common stock, in addition to refinancing existing net debt of Network Solutions and paying certain fees. Network Solutions is currently majority owned by General Atlantic LLC, a leading global growth equity firm.

Cox to open “Solutions store” and introduce wireless service

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Details are sketchy even in their press release, but Cox Communications is having a grand opening of their a new solutions store for its customers on Saturday, July 23rd, from 11 AM to 3 PM. The solutions store appears to be either in their existing building near McLearen and Centreville Road or in the new building constructed near their site. Cox and Verizon complete for high speed wireless services in Oak Hill, except for portions of Oak Hill that are in Reston (where Comcast provides cable and internet service). Their new wireless service sounds interesting but no details are provided in the press release.

HERNDON, Va., July 21, 2011 /PRNewswire/ — On Saturday, July 23, 2011, Cox will celebrate the grand opening of its first Solutions Store in Northern Virginia and the launch of Cox Wireless service. Cox will hold special community festivities and prize giveaways at the Herndon Solutions Store. The store is located at 3080 Centreville Rd., Herndon, Va., and activities will be held from 11 a.m. to 3 p.m., with a ribbon cutting ceremony held at 11 a.m.

The event will provide additional “hands-on” opportunities for customers to experience Cox services including the newly launched Cox Wireless, which includes MoneyBack Minutes and bundle discounts.