Maritime Square Office Building sells for $8.6 million
- April 23, 2014
The Maritime Square office building in downtown Newport News has sold for $8.6 million to an entity affiliated with The Simpson Organization in Atlanta.
According to Cushman & Wakefield | Thalhimer, the 135,103-square-foot office building at 2600 Washington Ave. was 72 percent leased at the time of the acquisition. Built in 1970, it was renovated in 2012. Eric Robison and Catharine Spangler of Thalhimer’s Capital Markets Group represented the owner, Blue Sage Ventures, in the sale.
“Maritime Square has a unique presence in the Hampton Roads office market as the only significant office building available for lease in downtown Newport News,” Robison, a senior vice president, said in a statement.
Located near Newport News municipal buildings and blocks from Huntington Ingalls Industries Newport News Shipbuilding, the property benefits from a captive nearby tenant base, the real estate firm said. “Significant improvements completed by the seller to the building lobby and common areas have added modern, high-quality finishes to this well-located building,” Robison added.