Sentara medial office building in Williamsburg sells for $15.4 million

Armada Hoffler Properties has sold the Sentara New Town Medical Office Building in Williamsburg to an undisclosed purchaser for $15.45 million, or about  $314 per square foot.

According to Divaris Real Estate Inc., broker for the deal, the 49,200-square-foot office building is fully occupied by Sentara Medical Group.  It was a build-to-suite project that Armada Hoffler constructed for Sentara in 2008, and it was under a long-term lease to the group at the time of the recent sale.

The building is located at 4374 New Town Ave., within the New Town mixed-use complex.

Alex Divaris, vice president, and Jason Oliver, senior associate, of Divaris Real Estate's Investment Sales Group, together with Michael Divaris, represented Armada Hoffler Properties.

Based in Virginia Beach, Armada Hoffler Properties is a real estate investment trust that develops, builds, owns and manages office, retail and multifamily properties in markets throughout the Mid-Atlantic states.

Sentara Medical Group is a division of Sentara Healthcare, a not-for-profit healthcare system with a 3,800 provider medical staff, and more than 100 sites of care in Virginia and North Carolina.