NORFOLK, VA. — Divaris Real Estate has arranged the sale of the Arnold B. McKinnon Norfolk Southern headquarters, a 310,745-square-foot office building in downtown Norfolk. The building has been home to Norfolk Southern Railroad’s headquarters since 1988. The company will finish out its lease, which has 18 months remaining, then move to Midtown Atlanta. A joint venture between TowneBank and Children’s Hospital of the King’s Daughter (CHKD) acquired the 22-story tower for an undisclosed price from Norfolk Southern. As part of the acquisition, the buyers also purchased the Commercial Place Garage, a 744-space parking garage connected to the tower via skybridge. The parking garage features retailers on the ground level. TowneBank and CHKD will each occupy 10 stories, with CHKD bringing over 475 employees and TowneBank relocating 400. TowneBank has hired WM Jordan as the general contractor to renovate the bank’s future home, on floors that Norfolk Southern is not currently occupying. Creative Development Partners will manage the renovations.
Gerald Divaris, Michael Divaris and Jason Oliver of Divaris Real Estate represented the buyers in the transaction. Gayle Bartlett of Divaris Property Management Corp. will continue to manage the building, as well as the parking garage and retail on the first floor of the garage. Divaris has handled the leasing and management of the building since 2009.