Heritage Capital Group Acquires Chesapeake Property For $61 Million With Cushman & Wakefield Brokers

The transaction involved the sale of Crossways Commerce Center I & II, a three-building industrial/flex portfolio located at 1449 Kristina Way and 1501 and 1545 Crossways Blvd. in Chesapeake, VA. The properties encompass a total of 525,082 square feet and were sold for $61,000,000.00. At the time of sale, the portfolio was fully leased to tenants including General Dynamics, Fiserv, Sentara Healthcare, Safelite Fulfillment Inc., Mid-Atlantic Engineering, and Regus.

Summary of transation details:

• Property Type: Industrial/Flex
• Transaction Amount: $61,000,000.00
• Address: 1449 Kristina Way, Chesapeake, VA
• Market: Chesapeake
• Seller's Representatives: Eric Berkman & Eric Robison - Cushman & Wakefield
• Buyer: Heritage Capital Group
• Square Footage: 525,082

Cushman & Wakefield’s Capital Markets Group facilitated the deal, representing the seller, D.C.-based DSC Partners. The acquisition was made by Heritage Capital, a family office from New Jersey.