Four-property office portfolio in Newport News sells for $9 million
Rock Landing Partners of Newport News has purchased a four-property, 133,482-square-foot office portfolio in the city’s Oyster Point Office Park for $9 million.
Rosemont Realty sold the properties in a transaction that closed on Dec. 8. Cushman & Wakefield | Thalhimer's Newport News office in collaboration with Thalhimer’s Richmond-based Capital Markets Group represented Rosemont Realty in the sale.
Located in the Peninsula’s well-known corporate office park, the portfolio consists of two Class A office buildings and two single-story office buildings. The buildings, all located on Rock Landing Drive, are: The Atrium, 64,020 square feet; Rock Landing II, 32,767 square feet; Rock Landing IV, 17,712 square feet; and Rock Landing V, 18,983 square feet. According to Thalhimer, the buildings were more than 83 percent leased at the time of the sale.
Completing the sale in a joint effort was Eric Robison of Thalhimer’s Richmond office, and Teresa Nettles and Andy Dallas of Thalhimer’s Newport News office.
Nettles and Dallas will remain the portfolio leasing team and will be joined by Thalhimer’s Property Services Group for property management.