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Home News Industries Real Estate Chesapeake industrial/flex buildings sell for $61M

Chesapeake industrial/flex buildings sell for $61M

General Dynamics, Sentara among tenants

Published May 27, 2021 by Kate Andrews

Crossways Commerce Center I and II in Chesapeake. Photo courtesy Cushman & Wakefield | Thalhimer

A three-building industrial/flex office complex in Chesapeake has sold for $61 million, Cushman & Wakefield | Thalhimer announced Thursday.

Washington, D.C.-based DSC Partners sold the property, which is 100% leased to several tenants, including General Dynamics and Sentara Healthcare, to a New Jersey firm, Heritage Capital Group, which owns Latitudes Apartments in Virginia Beach, among other properties on the East Coast.

Eric Berkman of Cushman & Wakefield’s Washington office and Eric Robison of Cushman & Wakefield | Thalhimer represented the seller. The properties, Crossways Commerce Center I and II, a three-building, 525,082-square-foot industrial/flex portfolio, are part of a 30-acre business park. The buildings are located at 1545 and 1501 Crossways Blvd. and 1449 Kristina Way.

In February, another building owned by DSC in the business park sold for $7.5 million to Virginia Beach property management company The Runnymede Corp.

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