NEWPORT NEWS, Va. – November 29, 2021 – Colliers is pleased to announce the sale of Liberty Commons from LC Offices, LLC to YSJ, LLC for $3.25 million. The property, located at 12695 McManus Blvd, Newport News, Va., includes seven free-standing medical office buildings totaling 25,356 square feet on 3.53 acres.
Built in 1989 and periodically renovated, Liberty Commons offers an attractive natural setting surrounding a pond and quality medical office space at reasonable lease rates. The free-surface parking and location next to Bon Secours Mary Immaculate Hospital make the office park very appealing to a host of medical and healthcare-related users. Additionally, the property offers easy access to I-64 via Jefferson Ave.
Liberty Commons is located in a Qualified Opportunity Zone, which offers tax incentives to businesses and investors who operate there. The office park is currently 92% leased to a total of nine tenants.
Jeff Parker, senior vice president, and Brian Davidson, senior associate, with Colliers represented the seller in the transaction.