Regions Central Virginia

California REIT purchases second building in Henrico business park

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A California-based REIT (real estate investment trust) has purchased a second building in Windsor Business Park in Henrico County.

Rich Uncles NNN REIT Inc., based in Costa Mesa, Calif., purchased the 72,890-square-foot Windsor IV for $10.5 million, or $144 per square foot, on Oct. 31. Windsor IV, a single-story facility built in 2001, is 100 percent occupied by Bon Secours Mercy Health.

The REIT bought the building from an affiliate of Fernau LeBlanc Investment Partners of Bethesda, Md.

In 2017, Rich Uncles purchased Windsor VI, a single-tenant, net-leased industrial property, for $7.4 million.

Fernau LeBlanc, with a co-investor, acquired the business park in December 2016 for $33 million.

Cushman & Wakefield | Thalhimer represented the seller.

The sale was completed by Eric Robison, senior vice president of Cushman & Wakefield | Thalhimer’s Capital Markets Group in Thalhimer’s Richmond office, and assisted by Evan Magrill of the firm’s leasing team.

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