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Marsh Landing

Virginia Beach, VA

Robinson Development Group partnered with PHLLC in December, 1999 to acquire this single, three-story office building at a bankruptcy auction. Bank of America provided the acquisition loan for the $3,775,000 purchase. After the previous owner-occupant vacated the 61,956 SF facility, RDG spent $1,750,000 to upgrade common areas, then leased the building for a long-term hold.

Marsh Landing was appraised in November, 2006 for $5.2 million over the acquisition price. Presently it is valued at $8,000,000 for a return cost of $2,475,000 – 44%.

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Written by · Categorized: Uncategorized · Tagged: Office

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477 Viking Drive, Suite 320
Virginia Beach, VA 23452

P 757.282.1020
4235 Innslake Drive
Glen Allen, VA 23060
P 757.282.1020
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