Three-building Richmond-area portfolio sells for $13.1 million
- January 3, 2014
Three Richmond-area buildings totaling more than 150,000 square feet have been sold for $13.1 million.
The commercial real estate firm CBRE|Richmond said buildings owned by Lar Don Realty LC — Vistas I, Vistas II and One Holland Place — were sold to Real Estate Value Advisors LLC.
“Real Estate Value Advisors has been poised to grow our portfolio in Richmond since our inception in 2005,” Steve Sadler, the firm’s managing director, said in a statement. “The Lar Don Portfolio matched our growth strategy of expanding in the Richmond metro area.”
Vistas I, Vistas II and One Holland Place are located at 5516-5540 Falmouth St. and 2235 Staples Mill Road, respectively.
Located in the Glenside/I-64 submarket, the Vistas I and II are three-story Class B buildings of 35,772 square feet each constructed in 1986 and 1987.
One Holland is a four-story Class B, 82,218-square-foot building erected in 1987.
The buildings are occupied by a variety of tenants, including firms in the medical, education, marketing real estate and communications industries.
David Wilkins, Will Bradley and Joe Marchetti of CBRE|Richmond represented the seller.
CBRE|Richmond has been retained for leasing and management of the properties.