Major Renovations Set to Begin at Iconic Town Center Area Office Building
Divaris Real Estate Answers the Call for More Premium Office Space in the Region’s Hottest Submarket
VIRGINIA BEACH, VA (May 17, 2023) – Divaris Real Estate announced today that major renovations are set to begin at Corporate Center IV, an iconic office building located at 4417 Corporation Lane in VirginiaBeach. The property was purchased by a locally-based investment group, OSS Village Avenue, LLC, in November 2022. After serving as Optima Health’s headquarters for the last two decades, Optima plans to vacate the building at the end of May.
Upon Optima’s departure, Corporate Center IV will be modernized and transformed into a premier office destination located within walking distance of the Town Center of Virginia Beach, in the heart of the city’s Central Business District. The two-story lobby and common areas will undergo significant interior renovations, including new flooring, wall coverings, furniture, and art. New, modern office spaces will be built out to tenant specifications.
The building is strategically located less than one-quarter mile from the Pembroke Square mixed-use development and only one-half mile from the landmark Town Center of Virginia Beach. Spaces ranging from 3,000 to 76,000 square feet are available for build-out starting June 1. Ample free surface parking and signage opportunities are available.
“The building’s strategic location and premier features make it an attractive option for businesses looking to establish a presence in Virginia Beach’s Central Business District,” said Jason Oliver, Senior Vice President, Divaris Real Estate “Corporate Center IV offers prospective tenants the opportunity to refresh their work environment, starting from a blank canvas. The building’s central location, within walking distance of Town Center, is a major draw.”
Currently, the market offers limited options for tenants looking to relocate closer to Town Center. In the third quarter of 2022, Divaris Real Estate reported that office space within The Town Center of Virginia Beach had reached full occupancy. The vacancy rate stands at 3.9% for Class A office space in the Town Center/CBD submarket.
“The renovations at Corporate Center IV will provide prospective tenants with premium office space that meets the strong demand in the Town Center/CBD submarket,” said Bill Kamarek, a partner in the ownership group. “We’re excited to offer new tailor-made office space to meet the needs of businesses looking to establish a presence in Virginia Beach’s Central Business District.”
Vivian Turok, Jason Oliver, and Ashley Beck with Divaris will be handling leasing responsibilities for Corporate Center IV. The five-story tower is the tallest in the Corporation Lane office park, with prominent signage opportunities available.
For more information about Corporate Center IV and available leasing opportunities, visit Divaris.com.
About Divaris Real Estate
Divaris Real Estate, Inc. is headquartered in Virginia Beach, Va. with offices in Newport News, Norfolk, Richmond and Roanoke, Va.; Charlotte and Raleigh, N.C.; Beverly Hills, Calif.; and Washington, DC. Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international fully integrated real estate services, brokerage, and property management company that currently manages and/or leases over 37.3 million square feet of prime office, retail, and industrial space throughout the US. Gerald S. Divaris is Chairman of the Board and CEO, and Michael B. Divaris is President and Chief Operating Officer of Divaris Real Estate, Inc.
Divaris Real Estate is a member of Realty Resources, a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S. DRE is also the Virginia affiliate for The CORE Network, a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe. These organizations represent corporate and institutional clients, tenants, and buyers in all aspects of leasing, development, management, sales and acquisitions.