Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Corporate Landing Business Park office building, a 31,033 square-foot property says Brian Hosey, Virginia broker of record. Michael J. Early brokered the sale.
“The property was acquired and will be renovated by the new owner, becoming their new corporate headquarters,” said Early.
Corporate Landing Business Park is a 325-acre, Class A office, light-industrial, mixed-use property. Corporate Landing is home to a variety of major regional and corporate headquarters including JES, GEICO, Lockheed Martin, and New Real Brewing. Also, the site is located within one mile of two major retail power centers, Red Mill Commons and Landstown Commons.
“This was a rewarding transaction because the building was sold to a minority-owned veteran company to be their corporate office. This property is also located in an opportunity zone,” added Early.
In terms of the surrounding market, the Virginia Beach metropolitan statistical area has a strong government and military presence. The area is home to the largest active-duty military population in the U.S., as well as nine major military installations representing all branches of the U.S. Armed Forces. In addition, the market is home to multiple North American and regional headquarters, including two Fortune 500 company headquarters, Dollar Tree and Huntington Ingalls.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
