vdogg
01-06-2007, 09:08 PM
http://media.hamptonroads.com/media/content/pilotonline/2007/01/render500x306.jpg
http://img.photobucket.com/albums/v714/vdogg/wachoviaCenterlocation3.jpg
http://content.hamptonroads.com/story.cfm?...8&ran=90372 (http://content.hamptonroads.com/story.cfm?story=117168&ran=90372)
MacArthur Center is getting its first high-rise neighbor: a $150 million, 22-story office tower and apartment/retail complex between Scope and the shopping mall.
Developers said the project, called Wachovia Center, is in essence a town center that will be built just north of the city's central business district along Monticello Avenue.
It will include 250,000 square feet of office space, 53 percent of which is leased; 175 apartments and 50,000 square feet of retail space spread across 4.5 acres.
With vacancy rates dipping to 8 percent recently for downtown's 5 million square feet of office space, there has been speculation for more than a year about a new office building.
"If someone is looking for 50,000 square feet of office space in downtown Norfolk, that isn't available today," said Deborah Stearns, managing director of GVA Advantis Real Estate's Norfolk office. "The time is right for a new building."
Thomas G. Johnson III, vice president of sales and development for Nusbaum Realty, said the building could grow taller than 22 stories.
"It all depends on demand," he said. "If we are able to attract most of the companies we're talking to, it will grow a few stories."
http://img.photobucket.com/albums/v714/vdogg/wachoviaCenterlocation3.jpg
http://content.hamptonroads.com/story.cfm?...8&ran=90372 (http://content.hamptonroads.com/story.cfm?story=117168&ran=90372)
MacArthur Center is getting its first high-rise neighbor: a $150 million, 22-story office tower and apartment/retail complex between Scope and the shopping mall.
Developers said the project, called Wachovia Center, is in essence a town center that will be built just north of the city's central business district along Monticello Avenue.
It will include 250,000 square feet of office space, 53 percent of which is leased; 175 apartments and 50,000 square feet of retail space spread across 4.5 acres.
With vacancy rates dipping to 8 percent recently for downtown's 5 million square feet of office space, there has been speculation for more than a year about a new office building.
"If someone is looking for 50,000 square feet of office space in downtown Norfolk, that isn't available today," said Deborah Stearns, managing director of GVA Advantis Real Estate's Norfolk office. "The time is right for a new building."
Thomas G. Johnson III, vice president of sales and development for Nusbaum Realty, said the building could grow taller than 22 stories.
"It all depends on demand," he said. "If we are able to attract most of the companies we're talking to, it will grow a few stories."
