Union Bank building in Newport News sells for $3.3 million
A Richmond-based investor has purchased Union Bank Building, a four-story Class A office building in Newport News.
According to Divaris Real Estate (DRE) Inc., which brokered the deal, the 34,704-square-foot building at 603 Pilot House Drive was fully leased. Jason Oliver and Alex Divaris from DRE’s Investment Sales Group represented the seller, NN Plaza, L.P.
Tenants at the building include Union Bank, Union Mortgage, Chesapeake Bay Management and Goldbelt.
“This asset was attractive to a number of investors due to its strong location within Newport News’ top office submarket, Oyster Point, as well as its strong tenancy and staggered rollover schedule,” Oliver, vice president of DRE’s Investment Sales Group, said in a statement.
DRE said it will retain leasing and management of Union Bank Building for the new owner.