John B. Levy & Co. Acquires Suffolk Office Center
The firm purchased the 261,000-square-foot Bridgeway Technology Center for $31.6 million on September 16, 2026.
Updated on Oct. 26, 2026 in Commercial
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John B. Levy & Co. finalized the acquisition of the Bridgeway Technology Center in Suffolk on September 16, 2026. The 261,000-square-foot facility at 7025 Harbour View Blvd. was purchased for $31.6 million.
Why it matters
The acquisition highlights a strategy to capitalize on the dislocation between stabilized cash flow and broader market concerns regarding office property valuations. The firm believes this move positions them well as capital markets for office investments begin to thaw.
The property at 7025 Harbour View Blvd. spans 261,000 square feet and is currently 100% leased to tenants including Lockheed Martin, Smithfield Foods, and the Commonwealth of Virginia.
The players
John B. Levy & Co.
The investment firm focuses on commercial real estate and recently completed the acquisition of a major tech center in Suffolk.
Lockheed Martin
The global aerospace and defense company maintains a lease at the newly acquired Bridgeway Technology Center.
Smithfield Foods
The food industry corporation is one of the primary tenants occupying space at the 7025 Harbour View Blvd. property.
Commonwealth of Virginia
The state government holds a lease within the Bridgeway Technology Center facility.
The details
The transaction was supported by equity from business partners and debt financing provided by a life insurance company. The property represents a significant investment in Suffolk while the broader commercial sector continues to navigate valuation challenges.
Timeline
The Bridgeway Technology Center sale closed on Sept. 16, 2026.
Global office values began a notable decline in 2020.
Levy & Co. completed the sale of a Maryland office park in 2022.
Culture Shift
The transaction indicates a strategic departure from the broader market trends that have defined the post-2020 office real estate climate. By acquiring a fully leased asset, the firm is positioning itself against rival investors who have largely retreated from the office sector.
The transition to new ownership ensures the continued presence of major employers like Lockheed Martin and Smithfield Foods in the area. Local residents and businesses can expect ongoing operations at the facility to remain stable due to the existing long-term lease agreements.
The takeaway
This acquisition shows that well-leased properties can still attract significant capital despite broader pessimism in the office market. Investors looking at similar categories should prioritize assets with high occupancy rates and stable government or corporate tenants.
Further reading
For more information on the regional market, see Suffolk Commercial.
Source note: This article includes information reported by Richmond BizSense.
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