JV Sells Fully Leased Office Building in Richmond
- Mar 14, 2019
An affiliate of Maryland-based Fernau LeBlanc Investment Partners and local investor John B. Levy & Co. have sold Windsor I, a single-story office flex building in Richmond, Va. JBW Windsor Investment Co. paid $7.5 million for the property, which previously traded in December 2016, when the seller acquired it as part of a six-asset portfolio, according to Yardi Matrix data.
Windsor I encompasses 58,000 square feet of space and was completed in 1999. The building is currently fully occupied by a variety of medical tenants, including Bon Secours Nursing School and Patterson Dental Supply.
Windsor I is part of the 62-acre, six-building Windsor Business Park. Located at 8550 Magellan Parkway, the property sits within walking distance of several corporate headquarters and communities. Multiple retailers, entertainment options, eateries, as well as accommodation options are within a 2-mile radius.
A Cushman & Wakefield | Thalhimer’s Capital Markets Group team comprising Senior Vice President Eric Robison and Executive Vice President Evan Magrill represented the seller in the transaction. Vice President Gregg Beck acted on behalf of the buyer. Earlier this year, the brokerage firm arranged the $56 million sale of another office asset in the area.
Image courtesy of Cushman & Wakefield