Bridgeway Technology Center Sells for $31.6 Million
The fully leased Suffolk office complex changes hands as investors show renewed interest in stable commercial assets.
Updated on Oct. 26, 2026 in Commercial
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John B. Levy & Co. acquired the 261,000-square-foot Bridgeway Technology Center in Suffolk for $31.6 million, a deal that closed on Sept. 16, 2026. The facility, located at 7025 Harbour View Blvd., remains fully occupied by established tenants including Lockheed Martin and Smithfield Foods.
Why it matters
This acquisition signals a strategic bet on office real estate, highlighting a gap between current market anxieties and the reliable cash flow generated by stable, fully leased commercial properties. The firm is capitalizing on broader market wariness to secure assets that maintain high occupancy levels.
The Bridgeway Technology Center, situated at 7025 Harbour View Blvd. in Suffolk, sold for $31.6 million on Sept. 16, 2026. The 261,000-square-foot property is currently 100% leased to tenants including Smithfield Foods and the Commonwealth of Virginia.
The players
John B. Levy & Co.
An investment firm that manages real estate assets and monitors capital market trends.
Lockheed Martin
A global aerospace and defense corporation that serves as a primary tenant at the Suffolk facility.
Smithfield Foods
A major food processing company and a key tenant within the Bridgeway Technology Center.
The details
The transaction was structured using a combination of equity from business partners and debt financing sourced from a life insurance company. By targeting this fully leased property, the firm is navigating around the volatility currently affecting the broader office sector. The acquisition reflects a belief that institutional-grade office spaces with strong tenant rosters continue to offer value despite a challenging investment climate for commercial real estate.
Timeline
2020: Office values began to decline on a global scale.
2022: Levy & Co. completed the sale of an office park in Maryland.
Sept. 16, 2026: The Bridgeway Technology Center sale officially closed.
The Home Front
This transaction suggests a cooling of the extreme market fears that have defined the commercial office sector since the 2020 global decline in values. It indicates a potential stabilization in local commercial real estate as investors re-evaluate properties with fully secured, long-term tenants.
For residents and local business owners, the continued presence of major employers like Smithfield Foods and Lockheed Martin indicates long-term stability for this office corridor. Monitoring large-scale commercial occupancy in your neighborhood can offer insight into local employment trends and regional economic health.
The takeaway
Commercial real estate investors are increasingly differentiating between high-occupancy assets and the broader office market downturn. Keep an eye on local commercial property tax filings and business occupancy news to gauge the overall economic stability of your specific area.
Further reading
For more on how shifts in corporate occupancy affect regional development, visit Commercial.
Source note: This article includes information reported by Richmond BizSense.
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