[IMGCAP(1)]NORFOLK, VA-A 33,000-sf lease with Citicorp North America has put a First Potomac asset here at 100% occupancy. The recently inked transaction, at 5301 Robin Hood Rd. in Norfolk Commerce Center II, is in an office/flex facility.

Citicorp is occupying office space in the two-story building, Timothy Zulick, senior vice president with First Potomac, tells GlobeSt.com, adding that the deal was quickly put together to accommodate Citicorp’s schedule. “They wanted to close to deal quickly and we were able to put it to bed within 30 days,” he says.

[IMGCAP(2)]Citicorp will occupy part of the second floor in the third quarter of 2008 with a lease term of 10 years. A 127,625-sf property, Norfolk Commerce Center II consists of two buildings that were built in 1990. It sits on 8.9 acres and includes four load docks. The asking rate for the space, before it became fully occupied, was $17 per sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.