NORFOLK, VIRGINIA (March 5, 2018) – Harbor Group International, LLC (“HGI”) announced today that affiliates of the Company have sold 555 East Main Street, a 125,691 square foot office tower located in downtown Norfolk, Virginia, to City View Tower GP, LLC, an entity related to the Norfolk Redevelopment and Housing Authority (NRHA), for $12 million.
HGI acquired the property in 1995 for $5.7 million. Through 2018, HGI will retain asset management and property management for the building. Major tenants include NRHA and PNC Bank.
“555 East Main, an iconic downtown Norfolk building, consistently performed well during our 23 years of ownership,” said T. Richard Litton, Jr., President of HGI, “Downtown Norfolk continues to thrive, and we look forward to continuing to play an active role in the city’s ongoing renaissance.”
Located at the corner of Main Street and St. Paul’s Boulevard, the 17-story building has an irreplaceable location within walking distance of the amenities of Downtown Norfolk with convenient access to I-264.
Harbor Group International, LLC is a private real estate investment and management firm which controls a portfolio of worldwide assets valued at $7.3 billion. HGI is headquartered in Norfolk, Virginia with offices in New York, Baltimore and Tel Aviv. The company’s real estate holdings include 4.8 million square feet of commercial properties and approximately 30,000 apartment units. For additional information, please visit www.harborgroupint.com.
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