Colliers is pleased to announce the sale of College Park Executive Center at 900 Commonwealth Place in Virginia Beach from Tri-City Properties LLC to CPPC9 LLC for $1.9 million.
The Class B two-story, office building contains 20,180 rentable square feet. The property is located in the College Park area, which provides convenient access to interstates, shopping, banking, and medical facilities. The building was constructed in 1975 and is 100% leased to five tenants. College Park Executive Center is located in the South Norfolk submarket.
Patrick Gill, CCIM, senior vice president, and Ned Brooks, senior vice president, with Colliers represented the seller in the transaction.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional service and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of the property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers, or LinkedIn.