DSC Partners LLC Purchased 1.64 Million Square Feet in Hampton Roads Colliers International is Assigned Leasing

NORFOLK, VA, – April 4, 2019 – DSC Partners LLC, a real estate investment group based in Washington, D.C., has purchased 1.64 million square feet of commercial property in Hampton Roads (again) for $167 million. The regional portfolio comprises 15 office, flex and industrial buildings in Chesapeake and Norfolk. 

“We originally purchased this whole portfolio through our affiliation with First Potomac in 1999,” said Douglas Donatelli, principal with DSC Partners LLC. “It was sold to a division of RMR Group three years ago. Nick Smith and I formed our new company one year ago and have been acquiring properties from Baltimore to Chesapeake. We know the strength of these properties, and we believe in the Hampton Roads market. There is strong demand and limited supply – a perfect combination.”

DSC Partners LLC has assigned leasing of the portfolio to Colliers International’s Norfolk office. Perry Frazer, managing director; Pat Mugler, executive vice president; Matt Wilbricht, senior vice president; and Thompson Brown, associate, will oversee leasing. 
 
“Our business philosophies align,” said Donatelli. “We have a tenant-focused approach and want to ensure that our properties are attractive and well maintained. And, we have strong 20+ year relationships with the Colliers team. That was significant in our decision.” 

“These are premier properties in the region,” said Frazer. “They have excellent tenants including the U.S Government and Sentara Healthcare and consistency are fully leased or have very high occupancy.” 

The portfolio includes: 
Crossways Commerce Center I, 1545 Crossways Blvd, Chesapeake, 375,607 SF
Crossways II, 1400 Crossways, Chesapeake, 84,799 SF
Greenbrier Circle Corporate Center, 825 Greenbrier Circle & 1801 Sara Drive, Chesapeake, 126,874 & 105,797 SF
Greenbrier Technology Center I, 814 Greenbrier Circle, Chesapeake, 97,194 SF
Greenbrier Technology Center II, 816 Greenbrier Circle, Chesapeake, 82,229 SF
Norfolk Business Center, 2551 Eltham Ave, Norfolk, 90,267 SF
Norfolk Commerce Park II, 5301 Robin Hood Road, Norfolk, 129,411 SF
Gateway II – 2550 Ellsmere Ave, Norfolk,42,997 SF

DSC Partners LLC is a real estate investment group that creates value through acquisition and enhancement of commercial office properties in dynamic urban markets in the United States. The company’s current portfolio is valued at $300 million. The company was founded by long-time DC real estate veterans Douglas J. Donatelli and Nicholas R. Smith.

About Colliers International Group Inc. 
Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, follow us on Twitter: @Colliers and LinkedIn.

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For more information, please contact:
Cindy Mackey
757-754-4553
cindymackey@cox.net