Colliers Lands Leasing Assignment for Murphy Property Group’s City Center at Oyster Point Assets
Murphy Property Group has awarded Colliers with leasing and management responsibilities for nearly 600,000 square feet across its nine building at City Center at Oyster Point in Newport News, VA.
Jupiter, FL-based Murphy Property Group, a real estate company that specializes in commercial retail properties, purchased its City Center at Oyster Point portfolio in 2021. Its properties include 450,000 square of Class A office space and 100,000 square feet of retail space.
“We have seen a trend where companies are moving to Class A mixed-use submarkets as a way to encourage employees to get back to the office,” said Perry Frazer, EVP and principal with Colliers. “Amenity rich Class A Offices are in high demand as recruiting and retention are critical to companies moving forward in 2023.”
City Center at Oyster Point is a 52-acre, high-density, mixed-use development zoned for 250,000 square feet of retail, 1,000,000 square feet of Class A office space, and 600 residences.
