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Authority approves sublease of International Incubator office to Give Medical and Rescue
Summary
The development authority approved a two-year sublease of one International Incubator office to Give Medical and Rescue, a subsidiary of the Give Group serving the offshore-wind industry.
The Virginia Beach Development Authority approved a two-year sublease of a single private office in its International Incubator to Give Medical and Rescue, a subsidiary of the Give Group that provides personal protective equipment, offshore medic and trauma rescue training, and related services for the offshore wind industry.
Paige (staff member) said Give Medical and Rescue intends to establish a sales office in Virginia Beach with near-term plans to add warehouse and distribution operations. The incubator provides a “soft landing” for small companies needing one to two offices; the proposed sublease has an incentivized payment structure that increases incrementally every six months.
The authority approved the sublease by voice vote. Staff said the incubator previously housed other tenants who expanded into town-center locations and that the incubator’s footprint has recently been upgraded to include private offices and shared collaboration space.
Staff will finalize sublease paperwork and coordinate any necessary onboarding and facility access for the tenant.
