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GOVT News

Closed Transaction: U.S. District Courthouse

10.19.2023

GOVT Real Estate Group Closes U.S. District Courthouse in Newport News, Virginia

San Diego, California | October 19th, 2023 – GOVT Real Estate Group announced today the recent sale of a 37,950 square-foot facility in Newport News, Virginia that is leased on a long-term basis to the U.S. General Services Administration (GSA) for use by the U.S. District Courthouse – Eastern District of Virginia, constructed with a focus on sustainability and efficiency to achieve LEED certification.

Situated on a 0.96-acre parcel along the James River waterfront in downtown Newport News, this U.S. Courthouse facility features exceptional river views from the judge’s chambers and is situated in immediate proximity to the Newport News Circuit Court (City), the Newport News Juvenile Court (City), the Newport News Magistrates (City Courthouse), Newport News City Hall, and a variety of additional government services and facilities.

The property was acquired by a REIT that focuses on government property acquisitions and was sold on behalf of a development firm based in Indianapolis.

 

GOVT Real Estate Group

GOVT Real Estate Group is the national market leader in government property sales and investor services, with transaction volume exceeding $7 billion and closings in 45 states. Founded in 2005, GOVT Real Estate Group provides highly skilled client representation via unmatched expertise and experience, and a network of influential relationships with institutional and private capital sources that is global in reach. Through the power of specialization, GOVT Real Estate Group maximizes value and optimizes results on every assignment.

GOVT Real Estate Group’s transaction experience includes facilities occupied by all active government departments and agencies, including FBI, DEA, IRS, FEMA, FDA, ATF, OSHA, Veterans Affairs, Secret Service, Homeland Security, Immigration and Customs Enforcement, Citizenship and Immigration Services, Social Security, U.S. Attorneys, U.S. Courts, Customs and Border Protection, Air Force, Department of Defense, Army Corps of Engineers, Defense Health Agency, Health Resources and Services, Department of Interior, Forest Service, Bureau of Land Management, Fish & Wildlife, Geological Survey, Environmental Protection Agency, Department of Energy, Military Entrance Processing Command, Department of Agriculture, and National Parks Service.