Norfolk Southern to Relocate Headquarters to Atlanta, Buys Midtown Site for $575M

ATLANTA — Transportation giant Norfolk Southern will relocate its headquarters from Norfolk, Va., to Midtown Atlanta. The railroad company is expected to buy a site at 650 W. Peachtree St. from Cousins Properties for $575 million. The Atlanta-based real estate owner and developer will manage the office campus when the project is completed. Norfolk Southern president and CEO Jim Squires says the headquarters will be complete in 2021. The announcement comes on the heels of Norfolk Southern selling its land in downtown Atlanta’s Gulch area for a reported $115 million to Los Angeles-based CIM Group. CIM Group plans to redevelop the 16.3-acre site into a “mini-city,” with office buildings, residential units, hotels, shops and restaurants. The Atlanta City Council approved the plans in November. Norfolk Southern is expected to put money from the sale toward its new headquarters.