The City Centre Office Building in
downtown Norfolk was purchased for $4.8 million by
an affiliate of Fortress Capital Investors LLC from Plume
Financial Associates LLC of Norfolk. The four-story
building, opened in 1988, has 533,000 square feet of
Class A office space, and is 98 percent occupied. (Press
release)
Comstock Homebuilding Cos. Inc.,
a Washington, D.C.-area homebuilder, bought three condominium
and townhouse developments in the Northern Virginia
area, paying $27 million for the 367 total units. (PRNewswire)
Mills Corp., an Arlington-based
real estate investment company, plans to develop a
high-end retail mall in fast-growing Prince William
County, to be called Potomac Center. The proposed development
follows recent investment announcements in Prince William
such as a luxury hotel, conference center and $56 million
performing arts center. Mills is the owner of Potomac
Mills. (The Washington Post)
Northwestern Mutual, a Milwaukee-based
life insurance company, agreed to a $42 million equity
partnership with HL Development Group of Norfolk
in the City Center at Oyster Point development.
The Newport News project is being developed in four
phases spread over 10 years with an estimated $350
million of investment when finished. (The Virginian-Pilot)
