{"id":1004198061,"date":"2017-11-22T06:25:04","date_gmt":"2017-11-22T14:25:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198061"},"modified":"2022-12-08T16:17:50","modified_gmt":"2022-12-09T00:17:50","slug":"lingerfelt-acquires-norfolk-waterside-marriott","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lingerfelt-acquires-norfolk-waterside-marriott\/","title":{"rendered":"Lingerfelt Acquires Norfolk Waterside Marriott"},"content":{"rendered":"<p><em>By IvyLee Rosario<\/em><\/p>\n<div id=\"attachment_1004198062\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004198062\" data-attachment-id=\"1004198062\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-acquires-norfolk-waterside-marriott\/lingerfelt-commonwealth-norfolk-waterside-marriott\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Lingerfelt CommonWealth Partners&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;Norfolk Waterside Marriott (PRNewsfoto\/Lingerfelt CommonWealth Partners)&quot;,&quot;created_timestamp&quot;:&quot;1511136000&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Lingerfelt CommonWealth Norfolk Waterside Marriott&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Lingerfelt CommonWealth Norfolk Waterside Marriott\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Norfolk Waterside Marriott, Norfolk, Va. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg?w=800\" class=\"wp-image-1004198062 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg\" alt=\"Norfolk Waterside Marriott, Norfolk, Va. \" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/Norfolk-Waterside-Marriott.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004198062\" class=\"wp-caption-text\">Norfolk Waterside Marriott, Norfolk, Va.<\/p><\/div>\n<p>Lingerfelt CommonWealth Partners has acquired Norfolk Waterside Marriott in downtown Norfolk, Va. The company has plans to immediately begin a comprehensive $25 million renovation throughout the property. CommonWealth Lodging Management, Lingerfelt&#8217;s hotel management affiliate, will operate the hotel.\u00a0<\/p>\n<p>The 405-key\u00a0property is located at the corner of Waterside Drive and East Main Street, along the Elizabeth River in the heart of downtown. Norfolk Waterside Marriott\u00a0boasts 26 meeting rooms totaling 70,000 square feet, free Wi-Fi, buffet breakfast, three restaurants, a fitness and business center and indoor pool and whirlpool.<\/p>\n<p>Within close proximity to the asset is the recently redeveloped Waterside LIVE!, a\u00a0<span class=\"xn-money\">$60 million<\/span>\u00a0mixed-use retail and entertainment development by the Cordish Cos. The Granby Street retail and restaurant corridor; the newly delivered office of Automatic Data Processing which will house over 1,800 employees; and MacArthur Mall which offers 1.2 million square feet of shopping, restaurants and entertainment are also nearby.<\/p>\n<p>Earlier this year,\u00a0Lingerfelt sold its 243-key <a href=\"https:\/\/www.commercialsearch.com\/news\/richmond-marriott-short-pump-sells-for-39m\/\">Richmond Marriott Short Pump<\/a> for $38.5 million to FPLC Richmond LLC.\u00a0<\/p>\n<p><em>Image courtesy of\u00a0Lingerfelt CommonWealth Partners\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company purchased the 405-key hotel and plans on implementing a $25 million renovation program. CommonWealth Lodging Management, Lingerfelt&#8217;s hotel management affiliate, will operate the hotel.<\/p>\n","protected":false},"author":746,"featured_media":1004198062,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21751,21783,11,21742],"tags":[33262,33877],"class_list":["post-1004198061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-hotel","category-investment","category-midatlantic","category-latest","tag-lingerfelt-commonwealth-realty-partners-llc","tag-marriott"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lingerfelt Acquires Norfolk Waterside Marriott - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lingerfelt-acquires-norfolk-waterside-marriott\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lingerfelt Acquires Norfolk Waterside Marriott\" \/>\n<meta property=\"og:description\" content=\"The company purchased the 405-key hotel and plans on implementing a $25 million renovation program. 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