Real Estate News 24

Real Estate News 24

Commercial real estate highlights: 11-building office park in western Henrico sells for $87 million | Business News

Beth McCandry



A portfolio of 11 buildings in Henrico County’s Glen Forest Office Park, including this one at Bayberry Court, sold for $ 87 million, County Court records show. The 567,000 square feet of office space is spread across eight Class A office buildings, one medical office building, and two Class B office buildings. The buildings on Forest Avenue near the Glenside Drive exit of Interstate 64 have one, according to Cushman & Wakefield Total occupancy of 86%, which is rented to 89 tenants | Thalhimer, who represented the salesman in the store. The new owner is a partnership between Jack Sitt Realty from New York and Gulf Islamic Investments from Dubai. The buildings were owned by a subsidiary of Brookfield Asset Management Inc., which it acquired in 2018 as part of the acquisition of Forest City Enterprises. Forest City bought them from several Pruitt family businesses in 2007.



Glen Forest Office Park,

A portfolio of 11 buildings in Henrico County’s Glen Forest Office Park, including this one on Forest Avenue, sold for $ 87 million, County Court records show. The 567,000 square feet of office space is spread across eight Class A office buildings, one medical office building, and two Class B office buildings. The buildings on Forest Hill Avenue near the Glenside Drive exit of Interstate 64 have, according to Cushman & Wakefield a total occupancy of 86%, which is rented to 89 tenants | Thalhimer, who represent the seller in the store. The new owner is a partnership between Jack Sitt Realty from New York and Gulf Islamic Investments from Dubai. The buildings were owned by a subsidiary of Brookfield Asset Management Inc., which it acquired in 2018 as part of the acquisition of Forest City Enterprises. Forest City bought them from several Pruitt family businesses in 2007.



For commercial notes

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Cushman & Wakefield | Thalhimer reports the following sales:

  • Jack Sitt real estate from New York and
  • Islamic investments in the Gulf of Dubai acquired 11 buildings in Glen Forest Office Park, an 85-acre campus between Glenside Drive, Forest Avenue and Interstate 64, from a subsidiary of Brookfield Asset Management Inc. for $ 87 million. Eric Robison, Bo McKown, Bill Collins and Eric Berkman represented the seller in the transaction.
  • Green Clean Express Auto Wash bought 1 acre of land at 9486 W. Broad St., Henrico from 2M2U Development LLC for $ 1.5 million. Alex T. Wotring represented the buyer.

    • Commonwealth trading partner reports the following sales:

    • Marwaha Sarup Singh LLC bought 38,000 square feet at 2,500 and 2505 Pocoshock Place in Chesterfield from Sanadeema LLC for $ 2.4 million. Tucker Dowdy represented the seller.
    • RCS properties bought 42,213 square feet at 7545 Midlothian Turnpike, Chesterfield from MW05 Richmond VA LLC for $ 4 million. Ben Bruni and Carl Blackwell represented the buyer.
    • Virginia Electric and Power Co. bought 11.8 acres at 212 Dry Bridge Road in Chesterfield from Watkins Land LLC for $ 530,000. Bill Barnett, Joe Buhrman and Chris Jenkins represented the seller.