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


NORFOLK, VA — Neuman 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 Virginia Symphony. The transaction included the simultaneous sale of the building, the separately owned ground leasehold 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 Corporation.

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