1441 Crossways Blvd & 1430 Kristina Way

CHESAPEAKE, VA

Property Overview

  •  Located in Crossways Commerce Center
  • Excellent location with convenient interstate access
  • Walkable proximity to hotels, dining, and shopping
  • Well-maintained landscaping and building exteriors
  • A surplus of surface parking
  • 100% leased to the GSA (United States Coast Guard) and Sentara Heathcare

Acquisition Details

  • Acquired 1430 Kristina Way in 1999 as a part of a multi-property portfolio and 1441 Crossways Blvd in 2004 while senior management at First Potomac Realty Trust
  • DSC Partners subsequently acquired the properties in 2018 as a part of a 15-building portfolio valued at $167M

Execution

  • After acquiring the properties as a portfolio in December 2018, the properties were subsequently sold in August 2020 for $41,150,000
  • Executed a purchase agreement, completed due diligence, and closed on the sale all during the COVID-19 pandemic
  • Recognized a $12.7M profit in 20 months

Details

Location

1441 Crossways Blvd & 1430 Kristina Way
CHESAPEAKE, VA