Almeda Partners, LLC

Location:

2551 Almeda Avenue, Norfolk, VA

Description:

Almeda Partners, LLC at 2551 Almeda Avenue, Norfolk, VA is one of Ashby Development's newest projects. Through our partners at NAI Dominion, who were assisting a client in search of an office/warehouse space, we discovered an older, functionally obsolete office building on this site. With the property owners interested in selling, our team identified a unique redevelopment opportunity to meet market demand for smaller office/warehouse spaces.

Our concept involved constructing a 25,000-square-foot office/warehouse facility while preserving an existing 4,000-square-foot warehouse at the rear of the site. After placing the property under contract, we initiated design and development work.

The planned building was designed to support up to six individual tenants. However, during construction, we were approached by a single tenant interested in the entire property. We reached a long-term lease agreement, securing occupancy by a single user and enhancing the project’s long-term value.