SNL Moving into Old NGIC Building

SNL Financial is moving from their Downtown Mall headquarters to the old National Ground Intelligence Center, just a few blocks away. The City has worked for the past year to attempt to locate a tenant for the 100,000 sq. ft. building since NGIC moved out in the county and the federal government gave the building to the City. The building requires about $6.5M in renovations, which SNL will pay for, though it’s proposed that $2.5M of that be funded by a seven-year loan from Charlottesville to the company. The 30-year lease is worth $14.8M, plus property taxes. City Manager Gary O’Connell says that he’s not concerned about the prospect of finding tenants for the 50,000 sq. ft. building that SNL currently occupies. Jake Mooney has the story in today’s Progress, which is particularly worth reading because of the extensive details offered in the story.

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