Leigh Medical Office Building
Realized Leigh Medical Office Building was a 25,950 square-foot class-B medical office facility located in the Newtown submarket of Hampton Roads, VA. It was acquired along with an adjacent half acre pad site by Lingerfelt’s predecessor on July 10, 2006. At acquisition, the existing building was nearly 100% occupied.
Investment Info
- Status: Realized
- Market: Hampton Roads, VA
- Property Type:
Medical/Life-Science - Square Footage: 25,950
- Lingerfelt Role: Developer
- Strategy: Acquisition
- Sub-Strategy: Lease-Up
Investment Metrics
- Entry Date: July 10, 2006
- Purchase Price: $2,900,000
- Total Capitalization: $3,000,000
- Exit Date: April 29, 2011
- Exit Price: $3,617,939
- Hold Period: 4.8 Years
