Ingenuity Development buys Archway Sixty in Chesterfield County
Ingenuity Development LLC said Monday that it has acquired Archway Sixty Office Park, a 65,000-square-foot-office complex in Chesterfield County.
“Archway Sixty represents a unique opportunity to acquire a very well located asset with great visibility, whose value can be significantly improved. We have major plans to enhance the building systems, both interior and exterior,” company President Sanford M. “Sandy” Cohen, said in a statement. “… We plan to give the property a fresh new exterior look and a new name.”
Improvements should get underway after the first of the year. Divaris Real Estate Inc.'s Richmond office will lease and manage the property.
An affiliate of Virginia Beach-based Divaris, Ingenuity Development specializes in acquiring commercial property for development and redevelopment throughout Virginia, Maryland and the Carolinas.
Archway Sixty is the company’s third acquisition in Virginia in the past 18 months.