150 West Main Street
Encyclopedia
150 West Main Street is the fifth tallest building in Downtown Norfolk
, Virginia
, United States
. Norfolk's highest rated restaurant, Todd Jurich's Bistro, is located on the building's ground floor.
.
A branch office of SunTrust occupies part of the ground floor, and their name is on the banner sign at the top of the building. Todd Jurich's Bistro, a full-service restaurant established in 1992, changes its menu regularly based on the availability of fresh seasonal ingredients. Their wine selection is notable, and they have several private dining rooms. The lobby features original artwork on display, and a 2000 sq ft (185.8 m²) penthouse
is available to tenants for conferences and meetings. The building has 24/7 security and a backup generator provides electricity during power outages.
In 2005, the original investors sold the property to the St. Joe Company
for $50.5 million.
On August 7, 2007 St. Joe sold the 98% leased building to Eola Capital, LLC for $56 million.
Finally, Gate Petroleum
acquired the building on February 8, 2008. At the time, the occupancy rate was 97% with just three vacant suites. The majority of lessees are legal and financial businesses, including dozens of lawyers, Certified Public Accountant
s, and prominent firms: Troutman Sanders, Kaufman & Canoles, Virginia Natural Gas, CB Richard Ellis brokerage and Wachovia Securities
.
Downtown Norfolk, Virginia
As the traditional center of shipping and port activities in the Hampton Roads region, Norfolk, Virginia's downtown waterfront historically played host to numerous and often noxious port and shipping-related uses...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Norfolk's highest rated restaurant, Todd Jurich's Bistro, is located on the building's ground floor.
History
In 2000, Norfolk's office vacancy rate was well below 10%. The development was a joint project between the city of Norfolk and a limited liability company headed by local businessmen Tom Robinson (Robinson Development Group) and Robert Stanton (Stanton Partners, Inc.). The 840-space parking facility, which occupies the second through tenth floors, was financed by the city of Norfolk. When the highrise opened in 2002, a large number of tenants in older properties, especially the Bank of America Center, built in 1967, moved to the new Class "A" building when their leases expired.Structure
The 20-story tower contains 234000 sq ft (21,739.3 m²) of leasable space, managed by CB Richard EllisCB Richard Ellis
CBRE Group, Inc. , a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm . The Company has approximately 31,000 employees , and serves real estate owners, investors and occupiers through more than 300 offices worldwide...
.
A branch office of SunTrust occupies part of the ground floor, and their name is on the banner sign at the top of the building. Todd Jurich's Bistro, a full-service restaurant established in 1992, changes its menu regularly based on the availability of fresh seasonal ingredients. Their wine selection is notable, and they have several private dining rooms. The lobby features original artwork on display, and a 2000 sq ft (185.8 m²) penthouse
Penthouse apartment
A penthouse apartment or penthouse is an apartment that is on one of the highest floors of an apartment building. Penthouses are typically differentiated from other apartments by luxury features.-History:...
is available to tenants for conferences and meetings. The building has 24/7 security and a backup generator provides electricity during power outages.
In 2005, the original investors sold the property to the St. Joe Company
St. Joe Company
The St. Joe Company is a land development company formerly headquartered in Jacksonville, Florida, United States. It is Florida's second largest private landowner, owning about in the state at the end of 2009.-Beginning:...
for $50.5 million.
On August 7, 2007 St. Joe sold the 98% leased building to Eola Capital, LLC for $56 million.
Finally, Gate Petroleum
Gate Petroleum
Gate Petroleum is a privately held diversified corporation headquartered in Jacksonville, Florida, the 11th largest in Florida in 2010. In FY 2008, the company ranked #338 on the Forbes list of America's Largest Private Companies...
acquired the building on February 8, 2008. At the time, the occupancy rate was 97% with just three vacant suites. The majority of lessees are legal and financial businesses, including dozens of lawyers, Certified Public Accountant
Certified Public Accountant
Certified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
s, and prominent firms: Troutman Sanders, Kaufman & Canoles, Virginia Natural Gas, CB Richard Ellis brokerage and Wachovia Securities
Wachovia Securities
Wells Fargo Advisors, is a subsidiary of Wells Fargo, located in St. Louis, Missouri. It is the second largest brokerage firm in the United States as of October 1, 2007 with $1.17 trillion retail client assets under management....
.
External links
- Downtown Norfolk's information page about the building
- CBRE flyer - 150 W. Main St.
- http://www.norfolknavigator.com/ed.asp?cmd=select&maxx=12129257.2386319&minx=12127892.8749955&miny=3474986.06278695&maxy=3475786.06278695&vis=&nvis=&p=2&t=1&x1=&y1=&label=&city=&zipcode=&thetype=&minsize=0&maxsize=999999999999999&units=&selid=9080&report=&distance=&s=919&sic=&parcel=&address=150+West++Main&forsale=no&forlease=no&k=0&dtype=&spdistrict=&x2=&y2=&busadd=Norfolk Navigator property page]