Suffolk office space promoted
Published 9:10 pm Tuesday, February 23, 2016
![Suffolk Economic Development Director Kevin Hughes gives a presentation on commercial real estate incentives in Suffolk to the Hampton Roads Realtors Association’s Commercial Alliance.](https://www.suffolknewsherald.com/wp-content/uploads/sites/19/2016/02/use-Hughes-for-HRRA.jpg)
Suffolk Economic Development Director Kevin Hughes gives a presentation on commercial real estate incentives in Suffolk to the Hampton Roads Realtors Association’s Commercial Alliance.
More than 15 commercial real estate agents from across Hampton Roads turned up in North Suffolk Tuesday for a look at one of the newest commercial sites up for grabs.
The Hampton Roads Realtors Alliance’s Commercial Alliance sponsored a breakfast meeting at a newly vacant office suite in Harbour View’s Bridgeway Technology Center. The Commercial Alliance is a committee within the HRRA that focuses on commercial sales and development.
The 20,000-square-foot office space comes furnished and was formerly home of 460 Mobility Partners Inc., a private consortium that had been tapped to build the new Route 460. 460 Mobility no longer needs the space after the state scrapped the plan for the new highway last year, said Century 21 Realtor Terry Fraley.
Realtors and brokers had a chance to tour the suite, which includes multiple executive offices, conference rooms, break rooms, a call center and an open reception area.
Kevin Hughes and Gregory L. Byrd, the city’s director and assistant director of economic development, respectively, were on hand to answer any questions for real estate brokers and agents. They gave a brief overview of the city’s strategic growth areas and target markets, incentives for locating commercially throughout the city, new commercial properties in Suffolk, and how the dynamics of a large commercial office space work.
The site can be subdivided one time, said Fraley.
Any commercial firm who leases the building will be entitled to a 50-percent reduction on their business license and a one-time 50-percent reduction on personal property taxes once during the company’s first three years in business, said Hughes. The company can decide which year it wants the tax deduction, he added.
The city will be available to answer questions for any brokers or prospective tenants, Hughes said.