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Seminole Trail Properties has purchased the Poplar Hill Medical Center in Chesapeake, VA for $5.7 million.

Repositioned Chesapeake MOB Sells for $8M after Tenancy Doubles

Divaris Real Estate, Inc., has completed the $5.7-million sale of Poplar Hill Medical Center, a four-building medical office park located in Chesapeake, VA.

Representing the seller, Divaris Real Estate’s Senior Vice President, Jason Oliver and Rachel Salasky represented the seller, Woodside Special Opportunity PE Fund II, LP. Charlottesville, VA-based Seminole Trail Properties purchased the asset.

Woodside purchased the 40,166-square foot multi-tenant office park in December 2020 and engaged Divaris Real Estate to lease and manage the property. Divaris proposed upgrades and a rebranding of the park from traditional to medical office that resulted in increased occupancy from 45% to 94% at time of sale.

Poplar Hill Medical Center consists of a complementary mix of medical tenants in both clinical and traditional offices, including primary care, dentistry, psychotherapy, and wellness.

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Divaris Real Estate, Inc.

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition