News

     Multi Capital Group Closes On Office Building in Virginia Beach, Virginia

NEW YORK, NY

A group of Canadian investors represented by Moteli Property Group USA of Lakewood, N.J. has acquired a 70,760 square feet class A office building at 4425 Corporation Lane for an undisclosed price.

The property, a single-tenant asset, is occupied by Amerigroup Corporation (NYSE: AGP), a publicly traded healthcare company. Amerigroup Corporation has recently signed a long term lease through 2016. The property serves as Amerigroup's corporate headquarters.

The four-story building is situated on 4.3 acres with 289 spaces of surface parking. It is located within the Corporate Center Office Park, which is one of Virginia Beach's premier office parks. The property features excellent accessibility by being positioned approximately 0.3 miles from Virginia Beach Boulevard, 1.2 miles from I-264 and less than five miles from the area's major north/south corridor, I-64.

Multi Capital Group, a real estate investment banking firm, arranged the financing and Jones Lang LaSalle represented Moteli in the acquisition