Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Northmarq Facilitates $9M Sale of Fully Leased Class A Office in Virginia Beach
Northmarq has brokered the $8.7-million sale of a Class A office building located at 1741 Corporate Landing Parkway in Virginia Beach, VA. The 45,061-square-foot office is fully leased to Groundworks, a foundation and water management solutions company.
Asher Wenig of Northmarq represented the buyer, a family office based in NJ. The seller was a private equity firm located in Charlotte, NC.
“In this market, cash is king,” said Wenig. “We were successful in negotiating a healthy yield for our client who also has the upside of bifurcating the parcel to develop a mirrored building in a strong and growing market.”
The three-story office building was built in 2008 and is situated on 14.03 acres.
- ◦Sale/Acquisition
