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4525 South Blvd
Virginia Beach, VA 23452
Southport Centre · Office Property For Sale


Investment Highlights
- Class A office building with recent capital improvements, including HVAC and common area upgrades.
- Stabilized occupancy at 97.90% with a weighted average lease term of 5.6 years.
- Diverse tenant mix featuring publicly traded companies, medical offices, and financial institutions.
- Located in Virginia Beach Town Center submarket with immediate access to I-264.
- Above-market parking ratio with 308 spaces in a landscaped setting.
- Positioned in Hampton Roads’ most sought-after office market with strong fundamentals.
Executive Summary
Southport Centre presents a rare opportunity to acquire a Class A office building in the heart of Virginia Beach’s thriving Town Center submarket. This 62,330-square-foot property offers exceptional visibility along I-264 and sits within a professional park-like setting on nearly five acres. Recent capital improvements, including new HVAC systems and upgraded common areas, position the asset for long-term operational efficiency. The building is currently 96% leased, supported by a diverse tenant mix that includes publicly traded companies, defense contractors, and financial institutions.
The property benefits from an above-market parking ratio of over 5 spaces per 1,000 SF, ensuring convenience for tenants and visitors. With a weighted average lease term of 5.6 years and consistent rental escalations, investors can expect stable cash flow and strong credit tenancy. Located in the most in-demand office submarket in Hampton Roads, Southport Centre offers immediate access to major highways, proximity to Virginia Beach Town Center amenities, and a resilient rent roll that has demonstrated durability through market cycles. This combination of location strength, recent upgrades, and occupancy stability makes Southport Centre an attractive investment opportunity for long-term value creation.
The property benefits from an above-market parking ratio of over 5 spaces per 1,000 SF, ensuring convenience for tenants and visitors. With a weighted average lease term of 5.6 years and consistent rental escalations, investors can expect stable cash flow and strong credit tenancy. Located in the most in-demand office submarket in Hampton Roads, Southport Centre offers immediate access to major highways, proximity to Virginia Beach Town Center amenities, and a resilient rent roll that has demonstrated durability through market cycles. This combination of location strength, recent upgrades, and occupancy stability makes Southport Centre an attractive investment opportunity for long-term value creation.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
62,330 SF
Building Class
A
Year Built
1997
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
20,464 SF
Slab To Slab
12’
Building FAR
0.29
Lot Size
4.96 AC
Zoning
I-1
Parking
308 Spaces (4.94 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Banking
- Courtyard
- Pond
- Waterfront
Property Taxes
| Parcel Number | 1477-61-0293 | Improvements Assessment | $5,757,300 |
| Land Assessment | $1,375,900 | Total Assessment | $7,133,200 |
Property Taxes
Parcel Number
1477-61-0293
Land Assessment
$1,375,900
Improvements Assessment
$5,757,300
Total Assessment
$7,133,200
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