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Oyster Point Office Building Sells
Newport News, VA - November, 2009Thalhimer, a Member of the Cushman & Wakefield Alliance, is pleased to announce the sale of Mobjack Place, located at 705 Mobjack Place in Oyster Point Park, Newport News, Virginia.
M.G. Dunwoody LLC purchased the approx. 4,937 sq. ft. office building from Frederick Blake for $524,000 as an investment. MG Dunwoody LLC has leased the property to the professional offices of Kersey, Sealey, Clark & Associates, who plans to occupy on January 1, 2010.
Kenneth D. Penrose, Jr. of Thalhimer handled the sale negotiations.
Case Study
This eight building, 172 unit, 1938 vintage property required a complete renovation in order to remain competitive. It also had property supplied utilities that were becoming increasingly expensive to maintain and operate.
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