Investment ■ Manufacturing
■ Recent Investment
• HB Hunter Co., a chocolate and cocoa products manufacturer made improvements to its facility in the Ballentine area.
$180 million Wells Fargo Center
• Dynamic Manufacturing was established in Norfolk in 1982. The creators and executive team at Dynamic Manufacturing were the innovators in the repossession and towing industry. The company invented the original self-loading wheel-lift which is the most soughtafter technology in the industry. Dynamic has distributors throughout the United States, England, Australia, Ukraine, Russia, Scandinavia, Sweden and the Baltic States. • Viridian Motors of Virginia is beginning to produce electric vehicles. The EV truck comes in two models powered by a 6-volt AGM battery that gives the trucks up to 90 miles per charge. Viridian Motor Corp. (VMC) is a company devoted to advancing 21st century transportation technology using alternative fuels and propulsion systems.
• 22-story Class-A high-rise office tower • Monticello Station: 121 luxury apartments • Retail shops • Office Tower completed Summer 2010; 84 percent occupied
Wells Fargo Center
• 1,850 parking spaces in two garages
$17.6 million TCC Student Center • Completed in Spring 2011 • First community-college student center in Virginia
■ Business Parks Lake Wright East Construction of the interstate access ramps from Northampton Boulevard to I-64 has been completed and a traffic signaling system will be added. Lake Wright East consists of 23 acres of prime real estate surrounding Lake Wright with spectacular views. Itoffers a naming right interstate presence.
Central Business Park
$7.5 million Virginia Arts Festival: Clay and Jay Barr Education Center • Opened August 2010
• 7 properties with over 200,000 square feet of leasable space
$80 million Research and Education facility at Eastern Virginia Medical School
• Two available building sites
• Four-story 100,000 square-foot facility and parking garage
• 79 percent occupied
• Includes renovation of two existing buildings and a 26,000square-foot modeling and simulation center. Opened in August 2011
Norfolk Commerce Park • 34 properties with over 1.3 million square feet of leasable space
Norfolk Industrial Park
• 88 percent occupied
• 350 acres fully developed with over 300 businesses
Interstate Corporate Center
• 92.15 percent occupied
• 19 properties with 430,000 square feet of leasable space
Midtown Industrial Area
• 75 percent occupied
• 32 properties with 760,000-square-feet of space
Lake Wright Executive Park
• 92 percent leased
• 6 properties with over 410,000 square feet of leasable space
Riverside Corporate Center
• 96 percent occupied
• 7 properties with 308,000-square-feet of space
Source: CoStar Group, Inc.
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TCC Student Center
• 99 percent leased
NORFOLK 2012 ANNUAL REPORT