Colliers to manage, lease City Center at Oyster Point
Newport News development has office, retail, residences
Colliers will be the leasing and management company for City Center at Oyster Point in Newport News, Florida-based real estate investment firm Murphy Property Group announced last week.
Colliers will manage nearly 600,000 square feet across nine buildings. City Center, which is 52 acres, serves as sort of a central downtown area for Newport News and is a high-density, mixed-use development zoned for 250,000 square feet of retail, 1 million feet of Class A office space and 600 residences. MPG purchased the portfolio in 2021, and their holdings include nearly 450,000 square feet of Class A office space and more than 100,000 square feet of retail space.
“We have seen a trend where companies are moving to Class A mixed-use submarkets as a way to encourage employees to get back to the office,” Perry Frazer, executive vice president, said in a statement. “Amenity-rich Class A offices are in high demand as recruiting and retention are critical to companies moving forward in 2023. City Center checks all the boxes as a vibrant, active, walkable community filled with best-in-class companies.”
Colliers’ Frazer, Brian Davidson and Robbie Berndt will handle office leasing. Harrison Hall, Peter Vick, Tyler Brooks and Maddy Spear will handle retail leasing. Todd Willett and Jessica Poyner will lead full-service property management.