A major player in the Hampton Roads development scene is taking a literal hands-on approach for its newest project: expanding its own office building.
The Breeden Company, a Virginia Beach-based developer with a portfolio of more than 15,000 apartments, plans to break ground this summer on a $2.4 million, 6,558-square-foot expansion project on the building, which is on Lynnhaven Parkway, just off Interstate 264.
The arrangement gives Breeden extensive control over the project timeline, said Tim Faulkner, Chief Operating Officer.
“We have our own construction company,” Faulkner said. “The only part of it we can’t control is the governmental approval process, but we can stay on top of it probably better than most corporate folks can.”
The expansion builds upon a 5,000-square-foot renovation project Breeden completed around 2005, Faulkner said. Breeden founder Ramon Breeden developed the office park in 1985 and sold off the rest of the buildings. The space is ideal for the company because of its central location in Hampton Roads and its accessibility, Faulkner said. The office currently has 14,584 square feet of space.
The project is driven by rapid expansion of the company’s property management division and its construction services, Faulkner said. In fact, Breeden Construction’s Virginia Beach office a mile away also added 2,200 square feet to its space recently.
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