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 578,000 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

Property Size: 578,000 SF

Details

Location

Crossways Commerce Center
CHESAPEAKE, 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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