Hertz Investment Group Enters Norfolk Real Estate Market with Purchase of Dominion Tower
Hertz Investment Group has entered the Norfolk commercial real estate market in a big way with the acquisition of Dominion Tower, the largest property in the city. The 26-story, 341-foot-tall structure includes 403,276 square feet of Class A office space with an average of 15,800 square feet per floor. Built in 1989 and remodeled in 2017, Dominion Tower offers one of the few privately owned garages in the city, with parking available for 1,224 vehicles. Hertz Investment Group acquired the property for $79 million.
“Dominion Tower is one of the most iconic properties in the Norfolk skyline, and Hertz Investment Group is proud to include it in our portfolio of properties,” said Judah Hertz, chairman of Hertz Investment Group. “Truthfully, we like everything about this building—the design, the tenant mix and occupancy rate, the parking availability and just a wonderful location next to the Elizabeth River. We strive to acquire best-of-class buildings, and with Dominion Tower that mission was accomplished.”