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Capital Markets Group Completes $5MM Sale of Dominion Business Center

CHESAPEAKE, VIRGINIA:  Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of Dominion Business Center, a 90% leased, two-building, office and flex investment portfolio located at 1001, 1005 and 1009 Scenic Parkway in Chesapeake, Virginia. 
Dominion Business Center is leased to a diverse group of fifteen (15) office and flex users including mechanical contractors, healthcare providers, construction firms and roofing companies. The office property, 1001 Scenic Parkway, is 19,593 square feet and is leased to numerous regional tenants including Sentara Rehab Services, George Mason Mortgage and Edward Jones. The fully leased flex property, 1005 and 1009 Scenic Parkway, is 33,955 square feet. Dominion Business Center is situated on ±20.89 acres within the Dominion Commerce Park – a 325-acre Planned Unit Development Industrial Park developed in 2005 and includes a pad site that has been approved for an additional ±8,750 square foot office or warehouse building. 
Olds Enterprise, LLC purchased the asset from DCP OFFICE, LLC for $5,000,000 as an investment.
Clark Simpson of Cushman & Wakefield | Thalhimer’s Capital Markets Group handled the sale negotiations on behalf of the seller, with assistance from Christine M. Kaempfe, CCIM, SIOR, also with Thalhimer.

 

Written on August 17, 2021