Virginia Beach Office Building Trades for $2M

ABNB Federal Credit Union sold the 20,956-square-foot property located in one of the most livable cities in the U.S., in a deal facilitated by Cushman & Wakefield | Thalhimer.

4524 Wishart Road in Virginia Beach
4524 Wishart Road in Virginia Beach

Seniorcorps Property Holdings LLC has purchased a 20,956-square-foot office building in Virginia Beach, Va., from ABNB Federal Credit Union for $1.5 million. The new owner acquired the asset as an investment in a transaction brokered by Cushman & Wakefield | Thalhimer.

The property is located at 4524 Wishart Road, 11 miles east of downtown Norfolk, Va. and within a roughly 30-minute drive of Hampton, Va. The 2.7-acre site is in close proximity to Road 225 and a nine-minute drive away from Interstate 264. According to public records, the three-story red brick building was constructed in 1991.

In a 2017 report by WalletHub, Virginia Beach ranked as most livable among the 62 largest cities in the U.S., followed by Seattle and Pittsburgh. CPE also referred to the Virginia Beach/Norfolk region as one of the top markets to watch in 2018.

A team made up of Eric Stanley, vice president at Cushman & Wakefield | Thalhimer and Troy Parker, partner at Parker Burnell Real Estate Group, represented the seller in the transaction.

Image via Google Street View