Virtus Commercial Acquires Leasing & Property Management Contract
Virtus Commercial announces the sale of The Pines Corporate Center for a total transaction value of $12,750,000. Located on the corner of Charleston and Tenaya, The Pines Corporate Center consists of 18 single-story multi-tenant office buildings, totaling over 101,000 square feet. The property was constructed in 2000 and 2002 and spans over nine acres. Chris Emanuel, Virtus Commercial, represented the Buyer, The Pines Office Park LLC, and Charles Moore and Marlene Fujita, CBRE, represented the Seller, Pines Office Center LLC.
New ownership plans to rebrand the property as The Pines Office Park and their investment strategy is to buy, hold and invest. Ownership selected Matt Feustel of Virtus Commercial as the leasing agent. “Matt’s experience, dedication and enthusiasm sets him apart from other leasing agents,” said Ownership. “He’s a perfect fit for our property and we are thrilled he will be leading the leasing team.”
Virtus Commercial is happy to announce its property management division, led by an experienced team that takes pride in understanding a client’s personalized needs, will add the property to their extensive management portfolio. Director of Property Management and Accounting Stephanie Morales said, “We are very excited to offer The Pines Office Park’s ownership the same high level of service that we are known for in the industry. We deliver a diverse network of strategies to maximize revenues for our property owners.”