{"id":1004165300,"date":"2017-01-30T06:52:17","date_gmt":"2017-01-30T14:52:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004165300"},"modified":"2022-12-07T00:12:24","modified_gmt":"2022-12-07T08:12:24","slug":"richmond-investor-nabs-newport-news-union-bank-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/richmond-investor-nabs-newport-news-union-bank-building\/","title":{"rendered":"Richmond Investor Nabs Newport News Union Bank Building"},"content":{"rendered":"

By Bogdan Odagescu<\/em><\/p>\n

\"603<\/a>

603 Pilot House Drive in Newport News, Va.<\/p><\/div>\n

Newport News, Va.<\/strong>\u2014Divaris Real Estate Inc. recently closed the sale of the Union Bank building, a Class A, four-story property in Newport News. The company\u2019s Jason Oliver and Alex Divaris represented the seller, NN Plaza LP.<\/p>\n

The property was bought by an undisclosed Richmond-based private investor for roughly $3.4 million. According to Newport News property records, the building changed hands on Jan. 11\u00a0and was acquired by Oyster Point BB LLC, a Midlothian-based company with the same address as PECK Properties, a family-owned commercial real estate firm. The property last changed hands ten years ago for $2.4 million.<\/p>\n

The 34,704-square-foot Union Bank building is located at 603 Pilot House Drive, just off Jefferson Avenue and close to the City Center at Oyster Point mall. The property is fully leased, the tenant roster including Union Bank, Union Mortgage, Chesapeake Bay Management and Goldbelt.<\/p>\n

\u201cThis asset was attractive to a number of investors due to its strong location within Newport News\u2019 top office submarket, Oyster Point, as well as its strong tenancy and staggered rollover schedule,\u201d said Oliver, vice president of Divaris\u2019 investment sales group, in prepared remarks.<\/p>\n

Image courtesy of Divaris Real Estate Inc.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The Class A, four-story property is located just off Jefferson Avenue, close to City Center at Oyster Point. <\/p>\n","protected":false},"author":740,"featured_media":1004165305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,21747,36153],"tags":[33686,32768,33688,33689,33687],"class_list":["post-1004165300","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-office","category-richmond-hampton-roads","tag-alex-divaris","tag-divaris-real-estate-inc","tag-jason-oliver","tag-peck-properties","tag-union-bank-building"],"acf":[],"yoast_head":"\nRichmond Investor Nabs Newport News Union Bank Building - 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\/richmond-investor-nabs-newport-news-union-bank-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richmond Investor Nabs Newport News Union Bank Building\" \/>\n<meta property=\"og:description\" content=\"The Class A, four-story property is located just off Jefferson Avenue, close to City Center at Oyster Point.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/richmond-investor-nabs-newport-news-union-bank-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-30T14:52:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T08:12:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/603-Pilot-House-Drive-in-Newport-News.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"432\" \/>\n\t<meta property=\"og:image:height\" content=\"311\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bogdan Odagescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/richmond-investor-nabs-newport-news-union-bank-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/richmond-investor-nabs-newport-news-union-bank-building\/\",\"name\":\"Richmond Investor Nabs Newport News Union Bank Building - 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He joined CPE and MHN in 2016, as associate editor. Bogdan coordinates news writing and editing work for the two publications, among others. 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