Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Nominate a Virginia financial professional
    • Nominate A Woman in Leadership Today
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Nominate a Virginia financial professional
    • Nominate A Woman in Leadership Today
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Industries Real Estate 11-building office portfolio in Henrico sells for $87M

11-building office portfolio in Henrico sells for $87M

Glen Forest portfolio is 86% leased

Published December 7, 2021 by Katherine Schulte

Glen Forest Office Park photo courtesy Thalhimer | Cushman & Wakefield, taken by Roy Burroughs Photography

An 11-building office portfolio in Henrico County sold for $87 million, according to Henrico County property records.

A partnership between New York-based Jack Sitt Real Estate LLC and Dubai, United Arab Emirates-based Gulf Islamic Investments LLC bought the portfolio on Dec. 1. Thalhimer did not disclose the seller. The properties are owned by various limited liability companies including Hillcrest Investments, FC Richmond II and Highland II.

The 567,000-square foot Glen Forest Office Portfolio sits on an 85-acre campus between Glenside Drive, Forest Avenue and Interstate 64. It is 86% leased to 89 tenants and includes eight Class A office buildings, one medical office building and two Class B office buildings.

The properties are:

  • Arrington: 93,645 square feet, 1802 Bayberry Court
  • Hillcrest: 97,061 square feet, 1801 Bayberry Court
  • Meridian: 58,114 square feet, 1800 Bayberry Court
  • Bayberry: 46,052 square feet, 1700 Bayberry Court
  • Forest Plaza I: 36,382 square feet, 7201 Glen Forest Drive
  • Forest Plaza II: 37,057 square feet, 7275 Glen Forest Drive
  • Capstone: 41,472 square feet, 7100 Forest Ave.
  • Highland I: 46,768 square feet, 7231 Forest Ave.
  • Highland II: 67,899 square feet, 7229 Forest Ave.
  • Utica: 29,581 square feet, 2701 Emerywood Parkway
  • Willard: 12,970 square feet, 2601 Willard Road

Of the tenants whose leases expired over the past 14 months, 84% renewed or expanded into more space. Over the past year, 28 tenants — more than 157,000 square feet — have signed new, renewal or expansion leases, with an average lease term of 4.9 years.

From Thalhimer’s Capital Markets Group, Eric Robison, executive vice president, and Bo McKown, associate, represented the seller, along with William “Bill” Collins, executive vice chairman, and Eric Berkman, vice chairman, with Cushman & Wakefield’s Washington, D.C. Capital Markets Group.

Amy J. Broderick and Kate Hosko with Cushman & Wakefield | Thalhimer will handle leasing for Highland I and Highland II. The buildings have up to 18,790 square feet available. CBRE will continue to handle leasing for the other buildings.

Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Virginia Business logo

Henrico office building sells for $1.1M

Building was vacant at time of sale

Henrico-based medical office sells for $32.5M

Brookfields Commons was previously VDOT's HQ

Cushman & Wakefield | Thalhimer name SVP, commercial property services

Amy Marsden was senior area director with The RMR Group

Trending

36 Va. companies make 2023 Fortune 1000 list

Norfolk eyes $18M purchase of MacArthur Center mall

Virginia Business announces 2023 Va. CFO Awards winners

Activation Capital plans $53M innovation center in Richmond

AWS reports it invested $51.9B in Va. from 2011-21

Sponsored Stories

Are you the biggest target for cyber security bad actors?

Preparing a Domestic Less-Than-Truckload (LTL) bid in Today’s Market

P.A.I.N.T. Your Financial Mountain

Advertisement

Advertisement

Trending

36 Va. companies make 2023 Fortune 1000 list

Norfolk eyes $18M purchase of MacArthur Center mall

Virginia Business announces 2023 Va. CFO Awards winners

Activation Capital plans $53M innovation center in Richmond

AWS reports it invested $51.9B in Va. from 2011-21

Sponsored Stories

Are you the biggest target for cyber security bad actors?

Preparing a Domestic Less-Than-Truckload (LTL) bid in Today’s Market

P.A.I.N.T. Your Financial Mountain

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk