Norfolk’s World Trade Center trades hands
Assessed at $51.27 million, property is 89% leased
The World Trade Center in Norfolk has sold for an undisclosed sum, Colliers announced Monday. On July 1, the property’s assessed value was nearly $51.27 million.
Norfolk-based real estate investment and management firm Harbor Group International LLC, which acquired the property in 2008 for $54 million, has sold it to a private investor that Colliers did not disclose and city property sales records are not yet available.
Located at 101 W. Main St. overlooking the Elizabeth River and Town Point Park, the nine-story office building has 370,000 square feet. The center is 89% leased, with major tenants including McGuireWoods, Davenport & Co., Vandeventer Black LLP and the Port of Virginia. The building features a full service commercial bank in its lobby, a first-floor cafe and an executive fitness center in addition to the private Town Point Club on the third floor.
J. Scott Adams, a certified commercial investor member, Michael Ettel and Perry Frazer with Colliers | Virginia led the marketing for the sale transaction.