{"id":1004122050,"date":"2015-06-25T12:49:40","date_gmt":"2015-06-25T20:49:40","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353817"},"modified":"2020-04-22T22:59:45","modified_gmt":"2020-04-23T06:59:45","slug":"large-hampton-roads-office-portfolio-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/large-hampton-roads-office-portfolio-changes-hands\/","title":{"rendered":"Large Hampton Roads Office Portfolio Changes Hands"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/676-Independence-Parkway-Chesapeake.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-353842 alignright\" title=\"676 Independence Parkway, Chesapeake\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/676-Independence-Parkway-Chesapeake.jpg\" alt=\"676 Independence Parkway, Chesapeake\" width=\"300\" height=\"199\" \/><\/a><a href=\"https:\/\/lingerfeltcommonwealth.com\/\" target=\"_blank\" rel=\"nofollow\">Lingerfelt CommonWealth Partners<\/a> continues its expansion. After picking up a <a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/orlando\/lingerfelt-picks-up-2-fairfield-inns\/1004112960.html\" >three-state, five-hotel portfolio<\/a> earlier this year, the Richmond-based company apparently very hungry for office space. It has satisfied itself with the acquisition of a massive office portfolio in the Hampton Roads region.<\/p>\n<p style=\"text-align: justify;\">Lingerfelt dropped $110.3 million to acquire 22 properties from <a href=\"https:\/\/www.libertyproperty.com\/\" target=\"_blank\" rel=\"nofollow\">Liberty Property Trust<\/a>. The assets total 1.3 million square feet of space and represented Liberty\u2019s entire office and flex portfolio in the Hampton Roads region. The sale also included 3.1 acres of land.<\/p>\n<p style=\"text-align: justify;\">According to the seller, the portfolio was 89.1 percent leased at the time of the sale. It includes 20 office buildings and 2 office\/flex buildings located in six major Hampton Roads submarkets: Hampton, Virginia Beach, Norfolk, and Chesapeake.<\/p>\n<p style=\"text-align: justify;\">The assets are:<\/p>\n<ul style=\"text-align: justify;\">\n<li>1301 Executive Blvd., 1305 Executive Blvd., 1309 Executive Blvd., 1313 Executive Blvd., and 1317 Executive Blvd. \u2013 in the Greenbrier Submarket;<\/li>\n<li>500 Independence Parkway, 501 Independence Parkway, 505 Independence Parkway, 510 Independence Parkway, 676 Independence Parkway, and 700 Independence Parkway \u2013 in the Battlefield Submarket;<\/li>\n<li>200 Golden Oak Court, 208 Golden Oak Court, 2809 South Lynnhaven Road, 484 Viking Drive, and 629 Phoenix Drive \u2013 in the Lynnhaven Submarket;<\/li>\n<li>Enterprise Parkway, 21 Enterprise Parkway, 22 Enterprise Parkway, 1457 Miller Store Road, 5 Manhattan Square, and 521 Butler Farm Road \u2013 in the Hampton Roads Center\/Airport Industrial\/Coliseum Center submarket.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Lingerfelt\u2019s property management affiliate, Commonwealth Commercial Partners, will manage the 22 properties. In a news release, the Richmond-based company announced that Commonwealth has retained many of the existing leasing and property management personnel who currently service the properties. Leasing services will also be conducted in-house.<\/p>\n<p style=\"text-align: justify;\">With this latest acquisition, Lingerfelt\u2019s Southeastern U.S. portfolio now totals of 5.5 million square feet of space. It includes 4 office, medical office, industrial and hotel properties.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <a href=\"https:\/\/lingerfeltcommonwealth.com\/\" target=\"_blank\" rel=\"nofollow\">Lingerfelt Commonwealth Partners<\/a><\/em><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lingerfelt CommonWealth Partners continues its expansion in the United States. After picking up a three-state, five-hotel portfolio earlier this year, the Richmond-based company has now moved to the office market and has acquired a massive office portfolio in the Hampton Roads region.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004122050","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Large Hampton Roads Office Portfolio Changes Hands - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/large-hampton-roads-office-portfolio-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Large Hampton Roads Office Portfolio Changes Hands\" \/>\n<meta property=\"og:description\" content=\"Lingerfelt CommonWealth Partners continues its expansion in the United States. 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