SVN Auction Services completes $1.2M sale of office/warehouse in Newport News, Va.
Facility is situated on about 4.5 acres in bustling Oakland Industrial Park
Richmond, VA (April 11, 2017) – SVN Auction Services founding partner SVN/Motleys recently completed the foreclosure sale of the former Apollo Press Printing Co. facility in the Oakland Industrial Park in northern Newport News, Va. The closing price to an undisclosed buyer was $1.22 million, said Tim Dudley, CAI, AARE, vice president and senior advisor for SVN/Motleys in Richmond.
The 24,350-square-foot facility at 270 Enterprise Drive is situated on about 4.5 acres, half (2.25 acres) of which is classified as “surplus land,” allowing for possible expansion, Dudley noted.
“Businesses are very effective in this area,” said Dudley, who is consistently ranked among the top producers for SVN International. “Newport News is a center of business activity in a prime location on the Virginia peninsula. The investment potential here is fantastic.”
The fully operational warehouse/office facility was built in 1992 and renovated in 2003. It has more than 90 spaces for parking and counts among its neighbors companies such as Pepsi, Sentra Healthcare, Synerject, AAFES Dan Daniel Distribution Center and many others.
The property is zoned M-2 (heavy industrial) and the transaction closed on March 17.
About SVN Auction Services
SVN Auction Services is a provider of date-specific sales and special asset solutions. It encompasses an elite group of local and regional accelerated marketing advisors throughout the United States who specialize in accelerated marketing services for commercial real estate assets. SVN Auction Services offers the industry’s most comprehensive spectrum of auction solutions — from rapid asset resolution and 30-day countdown asset sales to wide area and high impact/high promotion events. As part of one of the most recognized and reputable commercial real estate firms in the industry, SVN Auction Services is supported by SVN International, which features 200 locations serving more than 500 markets. This relationship provides outstanding opportunities for SVN Auction Services to serve clients needing to move assets in accelerated timeframes and creates significant value for buyers and sellers. For more information, visit SVN Auction Services.
Tim Dudley, CAI, AARE, vice president and senior advisor, SVN/Motley / 804-822-3131 [email protected]
Ken Zeszutko, Zeszutko Corp.-PR on behalf of SVN Auction Services / 321-213-1818 [email protected]