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Colliers Announces Sale of Liberty Commons in Newport News

Colliers Announces Sale of Liberty Commons in Newport News
Colliers Announces Sale of Liberty Commons in Newport News
Colliers Announces Sale of Liberty Commons in Newport News
Seven Buildings Sell for $3.25 Million

Colliers is pleased to announce the sale of Liberty Commons from LC Offices, LLC to YSJ, LLC for $3.25 million. The property, located at 12695 McManus Blvd, Newport News, Va., includes seven free-standing medical office buildings totaling 25,356 square feet on 3.53 acres.

Built in 1989 and periodically renovated, Liberty Commons offers an attractive natural setting surrounding a pond and quality medical office space at reasonable lease rates. The free-surface parking and location next to Bon Secours Mary Immaculate Hospital make the office park very appealing to a host of medical and healthcare-related users. Additionally, the property offers easy access to I-64 via Jefferson Ave.

Liberty Commons is located in a Qualified Opportunity Zone, which offers tax incentives to businesses and investors who operate there. The office park is currently 92% leased to a total of nine tenants.

Jeff Parker, senior vice president, and Brian Davidson, senior associate, with Colliers represented the seller in the transaction.

About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services 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 property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn

 

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