22-Building Hampton Roads Portfolio Changes Hands

HAMPTON ROADS, VA—Lingerfelt CommonWealth Partners has increased its office portfolio in the Southeastern United States by more than 1.3 million square feet.

The acquisition brings Lingerfelt CommonWealth Partners' total holdings to 5.5 million square feet across the Southeastern United States. The portfolio consists of 84 office, medical office, industrial and hotel properties.

Lingerfelt CommonWealth Partners will provide leasing, property management and asset management services in-house. Property management affiliate Commonwealth Commercial Partners will handle day-to-day property management.

The Richmond, VA-based firm reports it has acquired a portfolio of 20 office buildings and two office-flex buildings in the Hampton Roads region. The Hampton Roads portfolio includes: five office buildings in the Greenbrier submarket: 1301 Executive Blvd., 1305 Executive Blvd., 1309 Executive Blvd., 1313 Executive Blvd., and 1317 Executive Blvd., and six properties in the Battlefield submarket: 500 Independence Parkway, 501 Independence Parkway, 505 Independence Parkway, 510 Independence Parkway, 676 Independence Parkway, and 700 Independence Parkway. No financial terms of the transaction were released.

The deal also includes five buildings in the Lynnhaven submarket: 200 Golden Oak Court, 208 Golden Oak Court, 2809 South Lynnhaven Road, 484 Viking Drive, and 629 Phoenix Drive and six properties in the Hampton Roads Center/Airport Industrial/Coliseum Center submarkets: 1 Enterprise Parkway, 21 Enterprise Parkway, 22 Enterprise Parkway, 1457 Miller Store Road, 5 Manhattan Square, and 521 Butler Farm Road.

Earlier this year, Lingerfelt acquired five hotels in Orlando, FL Atlanta, GA, and Charlotte, NC. The 758-room portfolio is comprised of Marriott and Hilton branded hotels.