Strome Business Minute With Dr. Jeff Tanner

I’m Jeff Tanner, Dean of the Strome College of Business at Old Dominion University and this is a Strome Business Minute. Downtown Norfolk is just a little more than a year away from losing its largest tenant, Norfolk Southern, but their building will likely have a new owner soon. Towne Bank, the largest bank in the 757, has said that it will not move to Norfolk from its campus in Suffolk; rather, I expect that the Corporate Banking team, brought over from SunTrust after the merger with BB&T, will locate there, along with other employees serving the Norfolk area. TowneBank released statement that negotiations to purchase the building are ongoing, and the final point seems to be a transfer of the parking agreement with the city at an adjacent garage. With 21 floors, TowneBank won’t fill it up but the sale is good news. To learn more, visit odu.edu/business. This has been a Strome Business Minute, presented by the Strome College of Business at Old Dominion University.