Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of Fenner Garden, a multifamily community located in Norfolk, VA.

Greysteel Director Rawles Wilcox, of the Company’s Norfolk office, is marketing the property.

Located at 7420 Fenner Street, Fenner Garden was constructed in 1975 and totals 86 units across six buildings. Recent capital improvements include replacement of appliances, kitchen cabinets, windows, carpet, and bathroom fixtures.

The property is located just off of Tidewater Drive, near the junction of I-64 and I-564, providing easy access to an array of retail and entertainment venues as well as major employers. Additionally, the Property enjoys close proximity to one of the largest concentrations of Department of Defense populations in the country, with approximately 150,000 active and civilian military personnel.

"Fenner Garden represents an opportunity to acquire a stabilized asset with great returns,” said Mr. Wilcox. “I am confident investor interest for Fenner Garden will be great, given the property’s proximity to Norfolk Naval Station and with anticipated military spending within the region. This has also led to a substantial uptick in investor interest from outside the region. New ownership will realize immediate value by finishing the make-ready process and leasing units at market rent.”

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with nine offices located in Phoenix, AZ; Los Angeles, CA; Washington, D.C.; Baltimore, MD; Brooklyn, NY; Philadelphia, PA; Dallas, TX; Fort Worth, TX; and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com