New lease immediately backfills space and brings Town Center office occupancy to 99%
VIRGINIA BEACH, Va., Oct. 29, 2025 (GLOBE NEWSWIRE) — Armada Hoffler (NYSE: AHH) today announced that Atlantic Union Bank has signed a full floor lease for approximately 12,000 square feet at One Columbus Center, located in the heart of Town Center of Virginia Beach. The new lease represents an immediate backfill of recently available space at a nearly 7% spread over the prior tenant’s lease. Armada Hoffler’s office portfolio at Town Center is now 99% leased.
“Atlantic Union Bank’s decision to establish a significant presence at One Columbus Center further underscores Town Center of Virginia Beach’s position as the premier business address in the Hampton Roads region,” said Shawn Tibbetts, President and CEO of Armada Hoffler. “We continue to see companies relocating to Town Center of Virginia Beach to benefit from the energy and convenience of a true mixed-use environment. The immediate backfill of this space and our continued ability to grow rents demonstrates the strength of demand for high-quality office space in Town Center of Virginia Beach and the enduring appeal of our mixed-use strategy.”
Atlantic Union Bank will join a diverse mix of professional, financial, and technology firms that have made Town Center their home. Located within Armada Hoffler’s Town Center portfolio, One Columbus Center is a Class A office building offering convenient access to dining, retail, entertainment, and residential options. This vibrant mixed-use district is designed to foster a true live-work-play environment, creating a dynamic setting for employees and clients alike.
For more than two decades, Armada Hoffler has partnered with the City of Virginia Beach to create and continually enhance Town Center of Virginia Beach, a vibrant destination that serves as the City’s downtown core.
Divaris Real Estate represented the landlord in the transaction, and Cushman & Wakefield Thalhimer represented the tenant.
About Armada Hoffler
Armada Hoffler (NYSE: AHH) is a vertically integrated, self-managed real estate investment trust (“REIT”) with over four decades of experience developing, building, acquiring, and managing high-quality office, retail, and multifamily properties located primarily in the Mid-Atlantic and Southeastern United States. We also provide general construction and development services to third-party clients, in addition to developing and building properties to be placed in our stabilized portfolio. Founded in 1979 by Daniel A. Hoffler, Armada Hoffler has elected to be taxed as a REIT for U.S. federal income tax purposes. For more information visit ArmadaHoffler.com.
Contact:
Chelsea Forrest
Armada Hoffler
Vice President of Corporate Communications and Investor Relations
Email: CForrest@ArmadaHoffler.com
Phone: (757) 612-4248
