Chesapeake office park sells for $5.7M
Poplar Hill is 94% leased
Poplar Hill Medical Center, a four-building medical office park in Chesapeake, has sold for $5.7 million, Divaris Real Estate Inc. announced Thursday.
Texas-based real estate fund manager Woodside purchased the park in December 2020 and sold it to Charlottesville-based Seminole Trail Properties in a deal that closed May 6.
When Woodside bought the property, it hired Divaris to lease and manage the asset. The park is 40,166 square feet and in less than a year went from 45% occupancy to 94% occupancy. The tenants are clinical and other offices, including primary care, dentistry, psychotherapy and wellness.
Jason Oliver and Rachel Salasky, with Divaris, represented the seller and brokered the sale.