$40M 150 W. Main Completed

NORFOLK, VA-The $40-million construction of 150 W. Main–the 224,000-sf class A office building that sits atop a 10-story parking garage–has been completed two years after its groundbreaking. A public-private partnership involving the city of Norfolk and investment group 100 Main LLC, which consists of officials from Robinson Development Group and Stanton Partners, developed the project.

The 10-story office tower along with the 836-space garage beneath it stretches 292-feet into the air and, at 20 stories, is now downtown Norfolk’s fifth tallest structure. Ownership of the South Hampton Roads area property is divided, with the city retaining the land, the garage, and the building’s ground-level retail space. Norfolk expects its stake in the property to generate $700 million in tax revenue annually. 100 Main LLC owns the office portion of the structure. Norfolk chipped in $12 million for the project’s development and the partnership came up with $25 million in construction financing, courtesy of First Union National Bank.