Armada Hoffler Welcomes Atlantic Union Bank to One Columbus Center
Armada Hoffler Welcomes Atlantic Union Bank to One Columbus Center
Recently, Armada Hoffler (NYSE: AHH) announced an exciting addition to its impressive portfolio at the Town Center of Virginia Beach. Atlantic Union Bank has secured a full floor lease for approximately 12,000 square feet at One Columbus Center, a defining landmark in this vibrant business district. This lease not only fills a previously vacant space but also exceeds the prior tenant's lease by nearly 7%, highlighting the attractive nature of this developing area.
A New Chapter for Atlantic Union Bank
The announcement of Atlantic Union Bank setting up operations at One Columbus Center represents a strategic move in their growth strategy. President and CEO of Armada Hoffler, Shawn Tibbetts, indicated that this decision showcases the Town Center as the premier business address in the region. With an impressive occupancy rate of 99% in their office portfolio, it’s a testament to the increasing demand for quality office space in the area.
The Town Center Experience
One Columbus Center is more than just an office building; it’s a part of a meticulously planned mixed-use environment designed to enhance the work-life balance for employees and clients alike. This foundational aspect of the Town Center contributes greatly to its appeal, bringing together a diverse array of professional and technology firms. The proximity to retail, dining, and entertainment venues promises a vibrant daily experience for those who work in and around the area.
Armada Hoffler’s Commitment to Excellence
For over 40 years, Armada Hoffler has demonstrated a strong commitment to creating successful mixed-use environments. Their partnership with the City of Virginia Beach has resulted in ongoing enhancements to the Town Center, solidifying its status as the city’s downtown core. This long-term vision and investment in community infrastructure play a significant role in attracting businesses like Atlantic Union Bank to the area.
Leasing and Realty Support
In this move, Divaris Real Estate represented the landlord while Cushman & Wakefield Thalhimer took the lead in representing Atlantic Union Bank. Their combined efforts ensure that the terms of the lease are beneficial for all parties involved, underscoring the strategic importance of this region within the commercial real estate landscape.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) stands out as a vertically integrated, self-managed real estate investment trust (REIT) with over four decades of experience in the development, acquisition, and management of premium office, retail, and multifamily properties across the Mid-Atlantic and Southeastern United States. Their expertise also extends to general construction and third-party development services, making them a comprehensive partner for real estate needs.
Frequently Asked Questions
What is the significance of Atlantic Union Bank’s lease?
This lease signifies a strong demand for quality office space in Town Center, enhancing the area's reputation as a premier business location.
Where is One Columbus Center located?
One Columbus Center is situated within the Town Center of Virginia Beach, a mixed-use environment that supports business and leisure activities.
How long has Armada Hoffler been in business?
Armada Hoffler has been developing and managing properties for over 40 years, established in 1979 by Daniel A. Hoffler.
What types of properties does Armada Hoffler manage?
The company specializes in office, retail, and multifamily properties, with a focus on high-quality developments.
Who represented the landlord in the Atlantic Union Bank lease?
The landlord was represented by Divaris Real Estate in this significant leasing transaction.
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