Generation Income Properties acquires two Norfolk office buildings for $18.9m

Generation Income Properties acquires two Norfolk office buildings for $18.9m

Published at: 2019-10-03 14:46 | Author: CIJ USA
Generation Income Properties has purchased two office buildings in Norfolk, Virginia, for a combined $18.9m. The assets total 106,621 sq ft. The first property, a 71,774 sq ft, two-tenant office building, is leased to a General Services Administration (GSA) tenant as well as an international shipping company Maersk. The second office building, a 34,847 sq ft single-tenant office building in the Riverside Corporate Center is fully leased by PRA Group.

“With the addition of these two assets, we’ve more than doubled the value of assets under management and added two high-quality properties to our portfolio,” said David Sobelman, president and CEO of Generation Income Properties REIT.

Similar Stories:

Woodside Capital Partners buys Counsel Square for $9.1m
Woodside Capital Partners paid $9.1m at auction for the Counsel Square office complex in N  »
DSC Partners pays $149m for 1.3 million sq ft office portfolio
DSC Partners has paid $149m for a 1.3 million sq ft portfolio in Montgomery County, Maryla  »
Florham Park Corporate Center sells for $31.1m
ACG paid $31.1m for the Florham Park Corporate Center. The twin 230,000 class A office bui  »
Nova Capital Partners acquires Midtown Centre in Jacksonville for $31.5m
Nova Capital Partners has purchased Midtown Centre, a 31-building office park, in Jacksonv  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »