Norfolk Commerce Center

NORFOLK, Virginia

Property Overview

  • Conveniently located close to the Norfolk International Airport
  • Well - maintained landscaping and building exteriors
  • Surplus surface parking
  • Centrally located with easy interstate access
  • Less than 2 miles from the recently delivered Norfolk Premium Outlets
  • Surplus land available for parking expansion and development

Acquisition Details

  • Acquired as a part of a 16-building portfolio in December 2018 for an allocated $25.5M
  • 3 buildings totaling 262,000 SF

Execution

  • Brought the properties to 95% leased
  • Sold in April 2022 for $34.9M ($133psf)
  • Executed a purchase agreement, completed due diligence, and closed all during the COVID-19 pandemic
  • $9.4M gain over 3.5-year hold period

Property Size: 262,000 SF

Details

Location

Norfolk Commerce Center
NORFOLK, Virginia

About DSC Partners

DSC Partners LLC is a real estate investment and development company that creates value through acquisition and enhancement of commercial properties in dynamic markets.

Founded by long-time DC real estate veterans Douglas J. Donatelli and Nicholas R. Smith, the company’s integrated approach to real estate investment optimizes long-term, risk-adjusted returns.

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Our Location

Crossways Commerce CenterWestech Business Park