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Colliers Announces the Sale of College Park Executive Center in Virginia Beach for $1.9 Million

Colliers is pleased to announce the sale of College Park Executive Center at 900 Commonwealth Place in Virginia Beach from Tri-City Properties LLC to CPPC9 LLC for $1.9 million. 

The Class B two-story, office building contains 20,180 rentable square feet. The property is located in the College Park area, which provides convenient access to interstates, shopping, banking and medical facilities. The building was constructed in 1975 and is 100% leased to five tenants. College Park Executive Center is located in the South Norfolk submarket. 

Patrick Gill, CCIM, senior vice president, and Ned Brooks, senior vice president, with Colliers represented the seller in the transaction. 
 

Related Experts

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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Ned Brooks

Senior Vice President

Norfolk - Main

Ned Brooks joined the Retail Leasing and Sales Team of Hampton Roads in 1999. He develops and implements marketing strategies for shopping centers, property owners, buyers, and tenants by providing in-depth market analysis, site selection, lease and sales negotiation services. Ned was called on by Navy Federal Credit Union, the world’s largest credit union chain, for a major branch expansion in Hampton Roads and beyond. To date, he has completed over 30 branch locations. More recently, he was selected by Aldi US to assist with their grocery store expansion in the region. There are currently 15 completed transactions and more pending. In his over 30-year involvement in commercial real estate, he has exclusively represented over 50 centers in the Hampton Roads marketplace and served dozens of retailers in both Virginia and North Carolina. His assignments range from box disposition and general sales of land and buildings, to tenant representation and shopping center leasing.

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