VIRGINIA BEACH, VA: A site of approximately 24 acres of vacant waterfront land situated at the South Independence Boulevard and Holland Road intersection in Virginia Beach is under contract to Coastal Training Technologies. It is planned to develop the property into a unique "high tech" waterfront corporate park, comprising a variety of mixed uses. It will be anchored by the headquarters of Coastal Training Technologies, a Virginia Beach international publishing and communications company.

Coastal Training Technologies, founded in the garage of Paul Michelšs home in 1984, was incorporated in Virginia Beach in 1994. Since then it has expanded to include offices in several US cities as well as in Brazil, Spain, and South Africa.

"They are the leading supplier of safety and environmental training products for industrial, manufacturing, government, schools and construction companies worldwide. They publish corporate training products and produce printed materials, videos, and multi-media CD-Roms for the business world," said Gerald S. Divaris, president of Divaris Real Estate who is working with Coastal on its corporate headquarters project. Coastal has a library of 2,000 products covering workplace safety, environmental, human resources and technical skills. Coastal is also the number one provider of non-clinical training materials for the healthcare market. Its customer base includes such notable companies as: Delta Airlines, Exxon, Virginia Power, Mobil Oil, GE, and Ashland Chemical, as well as many smaller businesses located throughout the world.

The project will be developed in the periphery of Virginia Beach's Central Business District, on a site that borders Mount Trashmore and Trashmore Park. The first phase will comprise 100,000 square feet, which will include a two-story office building, studio, and distribution center. Additional buildings will be constructed, as the company grows. Also, it is anticipated that other complementary businesses will locate their facilities at the property.

The property will be purchased from the Virginia Beach Development Authority. Construction is expected to begin in November of 1998 with Coastal moving to its new headquarters in the spring of 1999. The architect, Burrell Saunders of CMSS Architects has designed a high tech building that reflects the very essence of Coastal's business with such exciting architectural features as Lucabond exterior panels. A heavy emphasis on landscaping, including rest areas, jogging trails, and other amenities will give this project a unique character in the heart of the business area.

The sale has been negotiated by Gerald Divaris of Divaris Real Estate who is also acting as the project manager for Coastal Training Technologies.