VIRGINIA BEACH, VIRGINIA: Cushman & Wakefield | Thalhimer is pleased to have represented Telefonica in their purchase of approximately 3.5 acres of land situated within Corporate Landing Business Park in Virginia Beach, Virginia.
Telefonica, a multinational broadband and telecommunications provider with operations in Europe, Asia, and North, Central and South America, will construct the Landing Station for their optic cable project which will extend a submarine cable 7,000 miles to Virginia Beach from Brazil.
The site was purchased from the City of Virginia Beach Development Authority for $735,000. Gardner King and Patrick Mumey, SIOR of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the buyer, and stated that the Virginia Beach Department of Economic Development was instrumental in securing the international company for the City.