A contract for the sale of the Maritime Administration Norfolk Terminal in Norfolk, Va., to the City of Norfolk has been signed, it was announced by the Maritime Administration, U.S. Department of Commerce. The City of Norfolk is to use the terminal as an open public marine terminal for the handling of intermodal and containerized cargo.
Under the terms of the sale, the City of Norfolk is to develop the terminal as a modern, intermodal interchange point to expedite the movement of containers by shippers, inland transportation carriers and ship operators. The terminal and warehouse facilities will be operated to foster development of the United States merchant marine, and the commerce of the United States, on an open basis, with each user receiving equal treatment, under customary port practices and established rate schedules.
The City of Norfolk has been operating the terminal under a lease, pending arrangements for sale, since July 1966.
The real estate to be transferred totals 538 acres and includes eight warehouses, two piers with transit sheds, open storage areas, parking lots, utilities, roads, railway trackage, marshalling yards, and miscellaneous small buildings and improvements. Use of substantial acreage in the terminal area will be reserved for the Army, Navy, the General Services Administration and the Maritime Administration.
The expected return to the government for the transferred facilities is approximately $11,600,000.