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vdogg

10-12 story pembroke office park tower

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Found this little blurb from a 2003 article that give a little bit of scope on what exactly is being planned fore the Pembroke office park. Not much but I don't think it had been posted yet.

Great Atlantic Management, a Virginia Beach-based property management firm, plans to add a 10-to 12-story office tower in Pembroke Office Park through an estimated $40 million investment offering 200,000 square feet of office space and an attached six-level parking garage with 1,000 spaces.

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Ok guys, here we go. To say this project has been delayed would be an understatement. The following was posted June 21, 2003. I'll have to upload the article to the site so you guys can read the full thing. As you can tell, i've decided to go through my cold case files this weekend. :lol:

The owners of Pembroke Office Park, a complex of six low-rise buildings across Independence Boulevard from Pembroke Mall, are planning to add a 10- to 12-story office tower.

Depending on tenant demand, one partner said, the estimated $35 million to $40 million project will offer 200,000 s...uare feet of office space and an attached six-level parking garage with 1,000 spaces.

It would be erected on what is now an asphalt parking lot west of the Pembroke 1 building, at six stories now the park's tallest.

Efforts are under way to line up tenants, said Aubrey L. Layne Jr., president of Great Atlantic Management. The officers of the property management firm are investment partners in Pembroke Office Park LLC, which purchased the property in June 2002.

Construction of the new office tower could begin within the next 12 to 18 months, Layne said. The goal is to pre-lease at least 60 percent of the space before breaking ground, he said.

"We are definitely going to do it, because we do think the demand is here," Layne said this week. "The ...uestion is when."

So what we've learned from this, even if the tower goes through every single one of those ugly a** buildings will probably be planted in our cbd from here to eternity. <_<

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"Our vision all along was to enhance the property with a new building," Layne said.

Layne said the owners want the tower to be "a little different," playing up the use of glass and greenery. They brought in a Miami architect to help develop a prototype and created a brochure to drum up interest. Advantis Real Estate Services of Norfolk was hired to find tenants. Layne touted the office park's central location. And because the project owners do not face the expense of buying land, they will offer competitive rents -- under $20 a square foot, a bargain for top-of-the-line Class A space, he said.

The 22-story Town Center tower, which opened last fall, is more than 80 percent occupied and rents for $24 to $26 per square foot, Ruhl said, among the highest rates in the region.

Donald R. Crigger, senior director of office properties for Advantis, said no leases have been signed for the new project, but that "we're finding pretty good interest."

"There's a good base of prospects to talk to about it," Crigger said. "I think it'll be a very attractive place to do business."

So the question is, where are we at on this? I'm gonna try to find out who the architect was and perhaps we may be able to drum up that rendering I saw a year ago. Most of the information that came out about this project was wrong, no buildings will be torn down. What was accurate was the timetable so there must be some holdup, what I don't know. :dontknow:

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Seems I recall seeing a glass building rendering but it has been a few years ago. Oh, and I found Great Atlantic's website so perhaps we can find out more info. You may want to write an email or I could for that matter.

Great Atlantic

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Yuck! :shok: This was not the more recent rendering I saw a year ago but it is the one that was in the original pilot article. The rendering I saw was absolutely beautiful and I hope they build it. Thank goodness it was changed. I should have the article link up in a second.

horrid.jpg

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Yuck! :shok: This was not the more recent rendering I saw a year ago but it is the one that was in the original pilot article. The rendering I saw was absolutely beautiful and I hope they build it. Thank goodness it was changed. I should have the article link up in a second.

horrid.jpg

What were they smoking when they drew that up? :rofl:

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Man, that is terrible. The rendering I was thinking of was tall and slender, definitely not this .. thing.

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That thing gave me an instant headache. That is seriously the ugliest damn building i've ever seen and the architect should be locked up for exposing the public to it. :rofl:

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That thing gave me an instant headache. That is seriously the ugliest damn building i've ever seen and the architect should be locked up for exposing the public to it. :rofl:

:rofl: That building screams Dubai....

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I found a tidbit of info on the Pembroke Office Park...

...This mortgage loan represents a second mortgage on the

Pembroke Office Park in Virginia Beach, Virginia.

This 268,000 square foot office complex is 90% leased

as of March 15, 1996.

Here is the whole file from T H E P A R K WA Y C O M P A N Y

1 9 9 5 A N N U A L R E P O R T- http://media.corporate-ir.net/media_files/...ts/pky_ar95.pdf

This apparently is Pembroke Office Park's financial/leasing company.

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More info found- Advantis' property listing for this building. Email addresses of owner included. Who wants to email them?

http://www.advantisgva.com/Listings/more_i...asp?value=53179

Last Updated to this website: 3/24/2006 2:47:27 PM

"Property Description: This new construction being offered is a 10 story, 200,000 Square Foot Class A office building with attached tenant and customer parking garage located within Pembroke Office Park.

Area Description: Located in the heart of the pembroke submarket in Virginia Beach with convenient access to a host of amenities including numerous restaurants and shopping opportunities within Pembroke Mall and the surrounding retail centers. In addition, the area is hig"

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Last Updated to this website: 3/24/2006 2:47:27 PM

Hmm...so it is still active. Too bad they don't have the new rendering up there. The one I saw on the pofiles of economic vitality show was very impressive. If I were a betting man, i'd say they haven't hit their 60% pre-leasing target yet, and that's why they haven't started construction.

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It kinda remindes me of something you'd see out of an Egyptian themed casino in Las Vegas. Sahara's or something like that. Look cartoony to me.

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I have sent a request for more info off to the leasing agency, hopefully I will something back shortly.

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Wow that rendering is HIDEOUS. it looks like something a 2 year old would come up with using a box of crayolas. Are their any updates on this project?

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How did I know there would actually be no update when I looked in this thread? :lol::rolleyes:

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