Industries Commercial Real Estate

Hampton Roads office building sells for $4.5 million

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The city of Norfolk has purchased a 53,338-square-foot building from Rialto Capital Advisors for $4.5 million.

Cushman & Wakefield | Thalhimer reported Thursday that the Norfolk Community Services Board plans to occupy the facility, located at 7447 Central Business Park Drive.

The space is 66 percent leased to defense contractors, engineers and health-care related tenants. The sale was completed by Cushman & Wakefield | Thalhimer’s Rob Wright on behalf of the seller.

The commercial real estate firm also announced the sale of 2117 McComas Way in Virginia Beach. JFS Real Estate LLC bought the professional office/ medical building from Nimmo Partners LLC for $1.6 million. The 15,054-square-foot property was purchased as an investment. It sits on 1.34 acres.

Janet Whitbeck of Cushman & Wakefield | Thalhimer handled sale negotiations on behalf of the buyer. Whitbeck also will be handling the leasing of the space with Christine Kaempfe.

 Cushman & Wakefield | Thalhimer also leased 22,500 square feet of space at 476 Viking Drive in Virginia Beach to Paramount Commercial Renovations.  Geoff Poston handled the lease negotiations.

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