Updated Aug 3, 2026
Cove Capital Acquires Virginia Technology Center In Newport News For $13.4 Million
813 Diligence Drive
$13,400,000
$164/SF
Building Size
81,426 SF
Asset Type
Industrial
Closing
Jul 29, 2026
About this deal
AI
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.
On the Map
$13,400,000
$164/SF
Industrial
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Players
Tariff Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93