VIRGINIA BEACH, Va., Oct. 19, 2022 (GLOBE NEWSWIRE) — Armada Hoffler (NYSE: AHH) introduced that Old Dominion University has agreed to lease 18,000 sq. ft within the Town Center of Virginia Beach. The new ODU house, beforehand occupied by Hampton University, can be residence to the University’s Institute of Data Science and Coastal Virginia Center for Cyber Innovation. As a outcome, workplace house in Town Center stays over 99% leased.
“The fact that Old Dominion University has chosen to locate its new data science and cyber center at Town Center comes as no surprise,” stated Lou Haddad, President & CEO of Armada Hoffler. “As organizations compete for top talent, demand remains strong for best-in-class office space located within dynamic, walkable, mixed-use environments – like the one we’ve created here in Town Center. Intentionally and central to our strategy, the third of our portfolio currently allocated to office is comprised exclusively of these kinds of assets. As a result, our overall office occupancy remains at an all-time high and our commercial releasing spreads continue to show growth. We look forward to welcoming ODU’s students, faculty, and staff to Town Center.”
The workplace house is predicted to be occupied by the center of 2023.
The Town Center of Virginia Beach is an ongoing, multi-phase improvement that began in 2000 as a public-private partnership between the City of Virginia Beach and Armada Hoffler. The mixed-use challenge spans 17 pedestrian-friendly blocks and options an eclectic mixture of 500k sq. ft of upscale retail, 30+ eating choices, 800k sq. ft of Class A workplace house, 750+ luxurious residences, in addition to leisure and cultural venues.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically-integrated, self-managed actual property funding belief with over 4 many years of expertise growing, constructing, buying, and managing high-quality workplace, retail, and multifamily properties situated primarily within the Mid-Atlantic and Southeastern United States. We additionally present basic building and improvement companies to third-party purchasers, along with growing and constructing properties to be positioned in our stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal earnings tax functions. For extra info go to ArmadaHoffler.com.
Contact:
Chelsea Forrest
Armada Hoffler
Director of Corporate Communications and Investor Relations
Email: [email protected]
Phone: (757) 612-4248
