Chicago real estate firm to submit offer to buy Virginia port

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A Chicago developer is planning to submit a formal proposal this week to buy operating rights of the state-owned Virginia Port Authority, according to the Daily Press.

Real estate development firm CenterPoint Properties will send a multibillion-dollar proposal to Virginia Transportation Secretary Pierce M. Homer this week, according to the newspaper.

Last year, the company announced plans to spend $350 million to create an intermodal facility in Suffolk. The company has met with the maritime community to discuss its proposal. (Daily Press

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