THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, October 21, 1994 TAG: 9410210632
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: BY MYLENE MANGALINDAN, STAFF WRITER
LENGTH: Medium: 69 lines
The city of Norfolk has named a Houston firm renown for building the Galleria shopping centers in Houston and Dallas as the leasing and management agent for MacArthur Center, the city's proposed $270 million downtown mall.
Hines Interests Limited Partnership has developed more than 4 million square feet of retail properties and manages an additional 800,000 square feet of retail space for other owners, a spokesman said.
``We are very pleased to be affiliated with this project,'' said Don McCrory, a Hines senior vice president in charge of retail. ``MacArthur Center is definitely the kind of high quality property with which we wish to be involved. We plan to bring this extensive retail experience to bear in leasing and managing this project.''
The Texas firm made a name for itself by developing mostly office and retail property, said Hunter A. Hogan, an independent real estate consultant in Norfolk. Founder Gerald Hines is considered very capable and thorough by other real estate developers, Hogan said.
``I've been familiar with them for years, mostly as a commercial developer,'' said David Rice, director of the Norfolk Redevelopment and Housing Authority, which will oversee MacArthur Center jointly with the city of Norfolk. ``They're a very good company. It's a very good choice.''
Two of Hines' best-known developments are shopping centers in Houston and Dallas, each named the Galleria. Both malls are huge and are touted as the cities' premier shopping sites.
Robert B. Smithwick, Norfolk's director of development, said the city expects Hines to open a local office when the date for construction nears.
``The most important thing is that the principal tenants were pleased with the decision,'' he said. ``Since we want this to be a premier shopping center, we wanted someone who was premier in leasing and management.''
Terms of Hines agreement with the city were not released.
The city of Norfolk has named a Houston firm renown for building the Galleria shopping centers in Houston and Dallas as the leasing and management agent for MacArthur Center, the city's proposed $270 million downtown mall.
Hines Interests Limited Partnership has developed more than 4 million square feet of retail properties and manages an additional 800,000 square feet of retail space for other owners, a spokesman said.
``We are very pleased to be affiliated with this project,'' said Don McCrory, a Hines senior vice president in charge of retail. ``MacArthur Center is definitely the kind of high quality property with which we wish to be involved. We plan to bring this extensive retail experience to bear in leasing and managing this project.''
The Texas firm made a name for itself by developing mostly office and retail property, said Hunter A. Hogan, an independent real estateconsultant in Norfolk. Founder Gerald Hines is considered very capable and thorough by other real estate developers, Hogan said.
``I've been familiar with them for years, mostly as a commercial developer,'' said David Rice, director of the Norfolk Redevelopment and Housing Authority, which will oversee MacArthur Center jointly with the city of Norfolk. ``They're a very good company. It's a very good choice.''
Two of Hines' best-known developments are shopping centers in Houston and Dallas, each named the Galleria. Both malls are huge and are touted as the cities' premier shopping sites.
Robert B. Smithwick, Norfolk's director of development, said the city expects Hines to open a local office when the date for construction nears.
``The most important thing is that the principal tenants were pleased with the decision,'' he said. ``Since we want this to be a premier shopping center, we wanted someone who was premier in leasing and management.''
Terms of Hines agreement with the city were not released. by CNB