150 West Main Street

February 2025 150 West Main Street 150WestMainStreetNorfolk.jpeg View of the tower from across the Elizabeth River 150 West Main StreetNorfolk, Virginia 23510 Completed 2002 Office 292 ft on 21 20 234,000 sqft on CMSS Architects City of Norfolk, Robert Stanton & Tom Robinson Gate Petroleum 150 West Main Street is the fourth tallest building in Downtown Norfolk, Virginia, United States. Norfolk's highest rated restaurant, Todd Jurich's Bistro, is located on the building's ground floor."Norfolk Restaurants Downtown" Norfolk Visitors Guide History In 2000, Norfolk's office vacancy rate was well below 10%. The development was a joint project between the city of Norfolk and a limited liability company headed by local businessmen Tom Robinson (Robinson Development Group) and Robert Stanton (Stanton Partners, Inc.). The 840-space parking facility, which occupies the second through tenth floors, was financed by the city of Norfolk. When the highrise opened in 2002, a large number of tenants in older properties, especially the Bank of America Center, built in 1967, moved to the new Class "A" building when their leases expired.Newswanger, Philip: "Wachovia Center to set standard downtown" https://web.archive.org/web/20110713040600/http://www.insidebiz.com/news/wachovia-center-set-standard-downtown 2011-07-13 Hampton Roads Business Journal, April 23, 2007 Structure The 20-story tower contains 234000 sqft m2 on of leasable space,"150 West Main Street" CMSS Architects managed by CBRE Group."CB Richard Ellis retains leasing and management of 150 W. Main in downtown Norfolk" https://web.archive.org/web/20110716213633/http://www.cbre.com/NR/rdonlyres/75819B99-5CDA-4052-912B-BD9BEDB606AF/600553/0208150WMainMgt1.pdf 2011-07-16 CB Richard Ellis, February 8, 2008 A branch office of Truist occupies part of the ground floor, and their name is on the banner sign at the top of the building. Todd Jurich's Bistro, a full-service restaurant established in 1992, changes its menu regularly based on the availability of fresh seasonal ingredients. Their wine selection is notable, and they have several private dining rooms. The lobby features original artwork on display, and a 2000 sqft m2 on penthouse is available to tenants for conferences and meetings. The building has 24/7 security and a backup generator provides electricity during power outages. In 2005, the original investors sold the property to the St. Joe Company for $50.5 million.Newswanger, Philip: "Price was more than double the appraised value" https://web.archive.org/web/20110713040653/http://www.insidebiz.com/news/price-was-more-double-appraised-value 2011-07-13 Hampton Roads Business Journal, March 19, 2007 On August 7, 2007, St. Joe sold the 98% leased building to Eola Capital, LLC for $56 million."St. Joe Company Completes The Sale Of Norfolk, Virginia Office Building For $56 Million" https://web.archive.org/web/20110713111718/http://ir.joe.com/releasedetail.cfm?ReleaseID=258826 2011-07-13 St. Joe Company Press Release, August 7, 2007 Finally, Gate Petroleum acquired the building on February 8, 2008. At the time, the occupancy rate was 97% with just three vacant suites. The majority of lessees are legal and financial businesses, including dozens of lawyers, Certified Public Accountants, and prominent firms: Troutman Sanders, Kaufman & Canoles, Virginia Natural Gas, CB Richard Ellis brokerage and Wachovia Securities. See also List of tallest buildings in Norfolk, Virginia External links Downtown Norfolk's information page about the building CBRE flyer - 150 W. Main St. Norfolk Navigator property page References 36 50 49 N 76 17 36.2 W title Category:Gate Petroleum Category:Skyscraper office buildings in Norfolk, Virginia Category:Office buildings completed in 2002 Category:Downtown Norfolk, Virginia Category:2002 establishments in Virginia