150 West Main Street is the fourth tallest building in

Downtown Norfolk Downtown Norfolk serves as the traditional center of commerce, government, and culture in the Hampton Roads region. Norfolk, Virginia's downtown waterfront shipping and port activities historically played host to numerous and often noxious port an ...

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. 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"
''Hampton Roads Business Journal'', April 23, 2007

Structure

The 20-story tower contains of leasable space,"150 West Main Street"
CMSS Architects managed by

CBRE Group CBRE Group, Inc. is an American commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It is the world's largest commercial real estate services and investment firm (based on 2021 reven ...

."CB Richard Ellis retains leasing and management of 150 W. Main in downtown Norfolk"
CB Richard Ellis, February 8, 2008 A branch office of

SunTrust SunTrust Banks, Inc. was an American bank holding company with SunTrust Bank as its largest subsidiary and assets of US$199 billion as of March 31, 2018. The bank's most direct corporate parent was established in 1891 in Atlanta, where it was h ...

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

penthouse Penthouse most often refers to: *Penthouse apartment, a special apartment on the top floor of a building *Penthouse (magazine), ''Penthouse'' (magazine), a British-founded men's magazine *Mechanical penthouse, a floor, typically located directly u ...

is available to tenants for

conferences A conference is a meeting of two or more experts to discuss and exchange opinions or new information about a particular topic. Conferences can be used as a form of group decision-making, although discussion, not always decisions, are the main pu ...

and

meetings A meeting is when two or more Homo sapiens, people come together to discuss one or more topics, often in a formal or business setting, but meetings also occur in a variety of other environments. Meetings can be used as form of Decision-making, ...

. The building has 24/7 security and a

backup generator An emergency power system is an independent source of electrical power that supports important electrical systems on loss of normal power supply. A standby power system may include a standby generator, batteries and other apparatus. Emergency p ...

provides electricity during power outages. In 2005, the original investors sold the property to the

St. Joe Company The St. Joe Company is a land development company headquartered in Panama City Beach, Florida. Founded in 1936 and until 1966 known as St. Joe Paper Company, the company still operates a forestry division but is primarily engaged in real estate d ...

for $50.5 million. 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"
St. Joe Company Press Release, August 7, 2007 Finally,

Gate Petroleum A gate or gateway is a point of entry to or from a space enclosed by walls. The word derived from old Norse "gat" meaning road or path; But other terms include ''yett and port''. The concept originally referred to the gap or hole in the wall ...

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 Accountant Certified Public Accountant (CPA) is the title of qualified accountants in numerous countries in the English-speaking world. It is generally equivalent to the title of chartered accountant in other English-speaking countries. In the United Sta ...

s, and prominent firms:

Troutman Sanders Troutman Pepper Hamilton Sanders LLP, known as Troutman Pepper, is an American law firm with more than 1,200 attorneys located in 23 U.S. cities. In terms of revenue it placed 47th on The American Lawyer's 2022 AmLaw 100 rankings of U.S. law fi ...

, ''Kaufman & Canoles'', Virginia Natural Gas, CB Richard Ellis brokerage and

Wachovia Securities Wachovia Securities was the trade name of Wachovia's retail brokerage and institutional capital markets and investment banking subsidiaries. Following Wachovia's merger with Wells Fargo and Company on December 31, 2008, the retail brokerage beca ...

External links

Downtown Norfolk's information page about the building

CBRE flyer - 150 W. Main St.

Norfolk Navigator property page

References

{{DEFAULTSORT:150 West Main Street Gate Petroleum Skyscraper office buildings in Norfolk, Virginia Office buildings completed in 2002 Downtown Norfolk, Virginia 2002 establishments in Virginia

History

Structure

See also

External links

References