(Updated at 5:10 p.m.) Clarendon-based Axios is now officially part of Atlanta-based cable operator and media conglomerate Cox Enterprises.
The $525 million sale of the five-year-old, newsletter-centric online news company — a seismic event in the media industry — closed on Sept. 1, according to Axios’ Dan Primack, less than a month after it was first announced.
Sponsored by Monday Properties and written by ARLnow, Startup Monday is a weekly column that highlights Arlington-based startups, founders, and local tech news. Monday Properties is proudly featuring 1515 Wilson Blvd in Rosslyn.
(Updated, 8/31/22) Twenty-five Arlington-based companies are on this year’s Inc. 5000 list, an annual barometer of the country’s fastest-growing companies.
Being a small business owner is tough and sometimes, for any number of reasons, you need to sell what you’ve built.
Even a large and affluent market like Arlington is no exception, with plenty of business turnover in a given year, especially among retail-level consumer businesses like restaurants and personal services.
Bank Booting Xmas Tree Sale from Lot — “Optimist members tell 7News On Your Side that [Wells Fargo] bank officials told them in late 2021 that their parking lot would not be available to the Optimists for liability reasons. This concern was bewildering to club members as they say over the years they’ve never had any serious accidents or issues. The Optimists are now scrambling to find another space.” [WJLA]
Real Estate Agents Making Less — “Northern Virginia Realtors shared roughly $30 million less in compensation during the first six months of the year compared to the same period in 2021 despite rising home prices, according to a new Sun Gazette analysis. Year-over-year sales for the first half of 2022 were down 12.2 percent, according to figures reported by the Northern Virginia Association of Realtors.” [Sun Gazette]
Interest Rates Could Slow Development — “Arlington County leaders are preparing for a difficult economic environment for multifamily development, even as they say they’re optimistic about the region’s future… [I]f the Federal Reserve pushes the federal funds rate to 3.5% by year-end as it has targeted, that could have serious repercussions, said Shooshan Co. Chairman John Shooshan, speaking at Bisnow’s Future of Arlington County event on Thursday.” [Bisnow]
Talent Driving Local Tech Strength — “Northern Virginia has become a magnet for the industry, with the Dulles Technology Corridor continuing its growth along the Silver Line and Amazon HQ2 going up in Arlington… Taylor said the upcoming Virginia Tech Innovation Campus in Alexandria and George Mason’s Fuse at Mason Square in Arlington are two projects that will be pivotal to ‘churning out more talent.'” [Axios]
A donut shop, a child care center, a facial spa and Peruvian restaurant are coming to HQ2.
Amazon announced the latest small business additions to its forthcoming Pentagon City campus, which are expected to open next year with the completion of the first phase of HQ2 construction. (The second phase was approved earlier this year.)
Raytheon, Boeing Mostly Moving Execs — “The real answer is that these are relatively easy shifts for both new companies — each of which already had a sizable presence here for years. They are both racing to be closer to their top customer, the federal government, in what appears to be a pretty simple change for each. Based on the little that the companies have shared publicly thus far, it’s essentially relocating a few key executives and support staff from one existing office to another.” [Washington Business Journal]
Wardian Completes Coast-to-Coast Run — “Around sunrise on Friday, July 1, 2022, ultrarunner Mike Wardian completed his run across America… [he] was greeted by the soft waves of the Atlantic Ocean and a beautiful sunrise at Rehoboth Beach, Delaware.” [iRunFar, Instagram, Washington Post]
Arlington resident Carmen Lopez has heard stories about panicked moms scrambling to find baby formula.
Lopez, owner of local fashion chain Current Boutique, said one mom couldn’t find the formula she needed and ordered it online. But she was afraid it wouldn’t come in time.
Legend Kicks has found a new home across the Pike, after moving because of Fillmore Gardens Shopping Center’s pending redevelopment.
The sneaker reseller and clothing store has moved from its home for the past four years at 2609 Columbia Pike to a storefront about a half block away at 2514 Columbia Pike, a few doors down from the Celtic House.
Beyer Wins 8th District Nomination — Updated at 9:50 a.m. — “Rep. Don Beyer, a Democrat, has fended off a primary challenge from Victoria Virasingh in the 8th Congressional District. Beyer will face Republican Karina Lipsman, who won a Republican convention last month… With 177 precincts of 182 reporting, Beyer leads, 77.82% to 22.18%.” [WTOP, Fox 5]
Statement from Beyer — “I am grateful to voters in Northern Virginia for again making me their Democratic nominee to represent Virginia’s 8th District… This is a challenging moment for the Democratic Party, and I look forward to throwing myself into that fight and making the case for equality, shared prosperity, and progress.” [Twitter]
Expanding Board Would Require State Action — “The Civic Federation’s TiGER (Task Force in Governance and Election Reform] body has recommended a number of changes to Arlington’s governance structure, including changing the election cycle. But the most basic tenet – increasing from five to seven the number of County Board members – could determine whether the Republican governor and House of Delegates want to play nice.” [Sun Gazette]
Serious Crash on I-395 — From Dave Statter: “Serious crash with one ejected on I-395S at Arlington Ridge Road. Fire, EMS & police appeared to be looking to make sure no else was thrown from the vehicle.” [Twitter]
Arlington is becoming a bonafide destination for corporate headquarters.
Three of the top 100 largest U.S. companies now have a headquarters — in the case of Amazon, a second headquarters — in the nation’s smallest self-governing county.
