Crossways Commerce Center

CHESAPEAKE, Virginia

Property Overview

  • Excellent location with convenient interstate access
  • Walkable proximity to hotels, dining, and shopping
  • Well - maintained landscaping and building exteriors
  • A surplus of surface parking

Acquisition Details

  • Acquired as a part of a 16 building portfolio in December 2018 for an allocated $53.2M
  • 4 buildings totaling 578,317 SF

Execution

  • Sold in two separate transactions in February and May 2021 totaling $68.55M
  • Executed a purchase agreement, completed due diligence, and closed on the both sales all during the COVID-19 pandemic
  • Brought the properties to 100% leased and extended several key tenants
  • $15.35M gain over 2.5-year hold period

Details

Location

Crossways Commerce Center
CHESAPEAKE, Virginia