6A — February 8 - 21, 2019 — M id A tlantic

Real Estate Journal


D el M ar V a

Acquires property from the Groome UnitedMethodist Church D2 Org. receives unanimous approval for 292-lot subdivision

EWES, DE — The D2 Organization received Preliminary Plan Ap- proval from the Sussex County Planning & Zoning Commis- sion for a subdivision along New Rd. in Lewes. The subdi- vision, known as Tower Hill, will include 292 single-family units on the 134-acre parcel. D2 is acquiring the prop- erty from the Groome United Methodist Church and church officials plan to use funds from the sale of the property to build a new church in Lewes. Over a 13-month period D2 worked with local zoning and land-use officials as well as environmental and wetland engineers to creatively design and plan the community and secure approvals for the site. D2 also voluntarily spent nearly $350,000 for an archeo- logical study of the parcel in order to search for and pre- serve any Native American or Colonial artifacts. Although no L NORFOLK, VA — Neu- man Commercial Group, LLC has negotiated the sale of Town Point Center, a class A 12-story office building with ground floor retail in Norfolk, Hampton Roads. The property sold for $19.9 million. Located at 150 Boush St. in Norfolk’s central business district on the Elizabeth River waterfront, the 132,000 s/f building is 94% leased to such tenants as BDO USA, The UP Center, Verizon, RCMA Americas and The Vir- ginia Symphony. The transac- tion included the simultaneous sale of the building, the sepa- rately owned ground leasehold

Tower Hill, Sussex County

major artifacts were found, D2 agreed to display a history of the property inside the com- munity’s clubhouse. D2 prides itself on going above and beyond local and state requirements when de- veloping a new subdivision and works closely with the existing community to address concerns. In the past two years alone, D2 has developed and sold interest and a seller-leaseback. Neuman Commercial Group, led by principal, Gil Neuman , negotiated the sale on behalf of the Florida based buyer, The Falstaff Group , from sellers CIG Town Point Center, LLC and The Runnymede Corpora- tion. “Town Point Center is a sta- bilized core-plus asset which directly benefits from and con- tributes to Downtown Norfolk’s continuing waterside redevel- opment and hotel and apart- ment boom,” said Neuman. He added: “We congratulate the sellers for having created value and the buyers for acquiring a

over 275 acres totaling 750 lots within five distinct com- munities. Many of the projects, which are located along Dela- ware’s coast, have earned D2 recognition as a preeminent land developer of high quality planned residential communi- ties. D2 has successfully part- nered with local and national homebuilders for the execution and sale of residential master planned communities.  The Hampton Roads region hosts over 96,000 active-duty military personnel and the Norfolk Naval Base, the larg- est naval base in the world. Town Point Center is across the street from The USSWisconsin Battleship and the Hampton Roads Naval Museum, and within walking distance to restaurants, banks and hotels. Major new downtown apart- ment projects include The ICON (275 units), The Edge at 450 Boush (156 units) and The St. Paul’s Apartments (126 units).  premiere infill urban commer- cial landmark.”


Neuman Commercial Group negotiates sale of Town Point Center for $19.9million




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