Oyster Point West Welcomes New Tenant

NEWPORT NEWS, VA-Known as Oyster Point West, the 43,000-sf flex property at 311 Ed Wright Lane has made room for a new tenant, the Damuth Trane Co. The heating, ventilation, and air conditioning supplies provider will make its home in a 6,000-sf space within the single-story facility. Office space at the property and its sister structure, Oyster Point West II, leases for $10 per-sf, while the warehouse space goes for $5 per sf. Divaris Real Estate Inc. represented the tenant in the transaction, and NAI Harvey Lindsay stood in for the property owner.

Located on a nearly four-acre parcel off I-64 in the Oyster Point submarket, Oyster Point West was developed last year. Precise terms of Damuth Trane’s lease agreement have not been disclosed, however NAI Harvey Lindsay’s marketing material notes that the owner prefers a 10-year lease, but will consider offers of occupancy for a five-year term by a strong tenant.