VIRGINIA BEACH, VA — Divaris Real Estate announced that major renovations are set to begin at Corporate Center IV, an office building located at 4417 Corporation Ln. in Virginia Beach. The property was purchased by a locally-based investment group, OSS Village Avenue, LLC, in November 2022. After serving as Optima Health’s headquarters for the last two decades. Upon Optima’s departure, Corporate Center IV will be modernized and transformed into a premier office destination located within walking distance of the Town Center of Virginia Beach, in the heart of the city’s Central Business District. The two-story lobby and common areas will undergo significant interior renovations, including new flooring, wall coverings, furniture, and art. New, modern office spaces will be built out to tenant specifications.
The building is located less than one-quarter mile from the Pembroke Square mixed-use development and only one-half mile from the landmark Town Center of Virginia Beach.
“The building’s strategic location and premier features make it an attractive option for businesses looking to establish a presence in Virginia Beach’s Central Business District,” said Jason Oliver, Senior vice president, Divaris Real Estate “Corporate Center IV offers prospective tenants the opportunity to refresh their work environment, starting from a blank canvas. The building’s central location, within walking distance of Town Center, is a major draw.”
Currently, the market offers limited options for tenants looking to relocate closer to Town Center. In the third quarter of 2022, Divaris Real Estate reported that office space within The Town Center of Virginia Beach had reached full occupancy. The vacancy rate stands at 3.9% for class A office space in the Town Center/CBD submarket.
“The renovations at Corporate Center IV will provide prospective tenants with premium office space that meets the strong demand in the Town Center/CBD submarket,” said Bill Kamarek, a partner in the ownership group. “We’re excited to offer new tailor-made office space to meet the needs of businesses looking to establish a presence in Virginia Beach’s Central Business District.”
Vivian Turok, Jason Oliver, and Ashley Beck with Divaris will be handling leasing responsibilities for Corporate Center IV. The five-story tower is the tallest in the Corporation Lane office park, with prominent signage opportunities available.