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Colliers Announces the Sale of 5740 Bayside Road in Virginia Beach for $3.5 Million

Colliers is pleased to announce the sale of 5740 Bayside Road in Virginia Beach from J&H Realty Corporation to JLB Property Associates LLC for $3.5 million. 

The Class B manufacturing office warehouse, built in 1975, comprises 69,120 square feet with 18,000 square feet of office space and a 51,120-square-foot warehouse. The property is located in Airport Industrial Park, one of the most desirable submarkets in Hampton Roads due to its proximity to Norfolk International Airport, Joint Expeditionary Base–Little Creek and the Port of Virginia. It will be used as a medical supply warehouse. 

Patrick Gill, CCIM, senior vice president, with Colliers represented the seller in the transaction, and Ricky Anderson, executive vice president, with Colliers represented the buyer.

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Patrick Gill

Senior Vice President

Norfolk - Main

Patrick Gill is Senior Vice President and leading member for the Colliers Norfolk Investment Properties Group.

Patrick has 32 years experience in the commercial real estate industry as a broker, developer, consultant, and manager. Patrick has provided real estate development and investment advice to numerous clients. These clients include Ford, Disney, Gateway, Dominion Resources, Visteon, Sears, Wells Fargo, SunTrust, BB&T, and the Bank of Hampton Roads. Since opening the Hampton Roads office of CBRE in 1998, Patrick has negotiated sales and leases with an aggregate value in excess of $1 billion dollars.

As a developer and owner of office, industrial and multifamily properties, Patrick has a unique understanding of how to create and preserve the value of income producing real estate.

Patrick’s professional affiliations include National Association of Realtors (local association), licensed Real Estate Broker, Licensed Class A General Contractor, and a Certified Commercial Investment Member (CCIM).

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Ricky Anderson

Executive Vice President

Norfolk - Main

Ricky Anderson joined Colliers International in May of 2007 as a commercial agent and quickly became an integral part of the brokerage team representing owners and occupiers of office and industrial properties. Since 2007, Ricky has negotiated over 450 transactions valued at over $130 million. Clients have included defense contractors, REITS, national corporations, medical practices, and local businesses and developers.

A lifelong Virginia Beach native, Ricky graduation from Virginia Tech with a degree in business finance. Ricky currently resides in Virginia beach with his wife and two daughters.

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