Armada Hoffler Secures New Tenant at Its Virginia HQ
Armada Hoffler Properties has signed a new office lease at Armada Hoffler Tower, the 362,500-square-foot Class A office building in Virginia Beach, Va., that also serves as its corporate headquarters. The new tenant is KPMG LLP, a U.S. audit, tax and advisory firm that will occupy 13,044 square feet, bringing the property’s occupancy to 98 percent. Divaris Real Estate represented the landlord, while Cushman & Wakefield | Thalhimer negotiated on behalf of the tenant.
The company’s new location will accommodate more than 160 employees, said KPMG Managing Partner Jason Kies in prepared remarks. Other tenants at the property include AW Financial Partners, AECOM Services Inc., Cushman & Wakefield and Morgan Stanley, among others, according to CommercialEdge.
Built in 2022 at 222 Central Park Ave., Armada Hoffler Tower is a 23-story office building that includes 38,500 square feet of ground-level retail space, an on-site conference room, a fitness center and 1,284 parking spots spread across a nine-story structure, the same source shows.
Armada Hoffler Tower rises on approximately 2 acres within Town Center of Virginia Beach, a mixed-use asset that comprises 620,000 square feet of retail space, 760 apartment units and a total of 800,000 square feet of office space. Located close to multiple bus stops, the property is 8 miles from Norfolk International Airport, 9 miles from Vibe Creative District and within 10 miles of downtown Norfolk, Va. Divaris Real Estate’s team of Senior Vice President Vivian Turok, President Michael Divaris and Executive Vice President Krista Costa negotiated on behalf of the landlord.
Office leasing in the area
Significant office leases in the metro include Franklin Street Properties Corp.’s 100,000-square-foot deal at Innbrook Corporate Center in Glen Allen, Va. The 10.5-year agreement was signed by the Commonwealth of Virginia’s Department of General Services in June.
In January 2023, Commonwealth Commercial Partners LLC has received a leasing assignment for an 11-building, 726,000-square-foot Class A office portfolio in the area. The properties are located in the three Richmond, Va., submarkets and are entirely owned and operated by Lingerfelt Commonwealth Partners.