U.S. Generation Income buys two Norfolk office assets valued at $18.9 mln

U.S. private equity real estate investment firm Generation Income Properties Inc. revealed that it has completed the purchase of two office buildings in Norfolk, Virginia valued at $18.9 million.

Through an umbrella partnership real estate investment trust deal, brokered by Colliers International, Generation Income bought the assets from Robinson Development Group.

The acquired assets include the 71,774-square-foot General Services Administration Naval Sea Systems Command building at 2510 Walmer Ave., which is primarily occupied by the GSA, as well as global container ship operator Maersk.

Furthermore, Generation Income also purchased a 34,847-square-foot office building in Riverside Corporate Center at 130 Corporate Boulevard, that is occupied by PRA Group Inc.