Cove Capital Acquires Virginia Technology Center In Newport News For $13.4 Million

Cove Capital acquired an industrial asset located at 813 Diligence Drive in Newport News, Virginia. The transaction involved a purchase price of $13.4 million for a total space of 81,426 square feet, translating to a price per square foot of $165.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,400,000
• Address: 813 Diligence Drive
• Market: Newport News, VA
• Square Footage: 81,426
• Price Per Square Foot: $165
• Buyer: Cove Capital
• Seller Representation: Derek DeLaura & Andreanna Grillo - Friedman Real Estate
• In-State Broker: Brian Brockman - Bang Realty

The transaction was facilitated by Derek DeLaura and Andreanna Grillo from Friedman Real Estate, who represented the private investor seller, while Brian Brockman from Bang Realty served as the in-state broker for this acquisition by Cove Capital.