CBRE | Richmond Handles Sale of Byrd Corporate Park for $31.25 Million

Richmond, Va. – February 23, 2018 – CBRE|Richmond is pleased to announce the sale of Byrd Corporate Park in Richmond, VA to WestDulles Station, LLC for $31,250,000. The seller was AF Byrd Center VA, LLC; a joint venture between Adler Real Estate Partners and Trigate Capital. Will Bradley and Matt Anderson of CBRE|Richmond and Scott Adams, CCIM of CBRE|Hampton Roads in conjunction with Frank Fallon of the CBRE, Inc. office in Atlanta represented the seller.

Byrd Corporate Park, located at the intersection of South Laburnum Avenue and Charles City Road near Richmond International Airport, is a 10-building light industrial portfolio totaling 475,738 square feet on 31 acres. The buildings were constructed between 1978 and 2003.

At the time of sale, the park was approximately 85%leased by over 80 tenants representing a wide array of industries including corporate offices, distribution, and retail. Current tenants include McKesson, Trident Plastics, Wawa, Carmax, and many more.

About CBRE – Richmond
CBRE|Richmond is a CBRE, Inc. affiliate office serving the Central Virginia region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2017, CBRE|Richmond completed 390 lease transactions encompassing 5.8 million square feet and totaling $364 million in value. The Richmond office also completed 89 sales transactions in 2017 with a total value of $435 million. For more information about the Richmond office, visit our website, www.cbre.us/richmond.

About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $4.3 billion of sales and leasing transactions in 2017.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue).The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.

Source: CBRE | Richmond