InMotion Hosting buys Va. Beach offices for $8.5M
Company announced it would invest $12.2M to expand local presence
Web hosting company InMotion Hosting has purchased a Virginia Beach office building previously occupied by Stratford University for $8.5 million, Cushman & Wakefield | Thalhimer announced Monday.
InMotion Hosting bought the a 61,528-square-foot class A office property from Campus Realty Virginia Beach LLC. The for-profit Stratford University closed its Virginia Beach, Newport News and Glen Allen locations in May 2019.
InMotion Hosting announced in November that it would invest $12.2 million to expand its presence in Virginia Beach. Its headquarters are located in El Segundo, California, but the company currently employs approximately 280 people at its current location in Virginia Beach. The expansion is expected to create 50 jobs in Virginia.
The building is situated on 3.378 acres on 555 S. Independence Blvd. InMotion Hosting is currently located at 3629 Sentara Way, Suite 303, which is approximately 3 miles from its new location.
Christine M. Kaempfe, CCIM, SIOR and Rob Wright of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.