DEFENSE FIRM PURCHASES 82,000-SQUARE-FOOT VIRGINIA OFFICE

VIRGINIA BEACH, VA. — The local defense contractor Atlantic Diving Supply has acquired the 82,000-square-foot Lynnwood Plaza office building from an undisclosed seller for an undisclosed price. The 23-year-old property spans 4 acres of land at 621 Lynnhaven Parkway in Virginia Beach’s Oceana West Corporate Park and will serve as the company’s new corporate headquarters. ADS will initially utilize 40,000 square feet of the Class A space, leasing the rest. When the company expands, it will start to occupy more of the building. CB Richard Ellis brokered the transaction.