A joint venture between New York-based Longships Capital, Homeward Angel and Prudent Richmond have acquired The Bank of America Operations Center in Richmond. Va. Trading for $38 million, the corporate campus sits on 46 acres with five buildings totaling more than 700,000 square feet. Built between 1985 and 2008 the office campus is located at 8011 Villa Park Drive. The facility features corporate offices, open work areas, a café and fitness facility as well as multiple raised-floor data halls and a standalone enterprise data center. The property is 100 percent leased by Bank of America through June 2022 under a lease that frees Bank of America from paying rent for the remainder of the current term.
“This is a truly unique asset in the Richmond market and one that the Longships team recognized immediately as an exceptional opportunity to acquire an irreplaceable corporate campus at a basis significantly below replacement cost,“ said Eric Robison, senior vice president of Cushman & Wakefield | Thalhimer’s Capital Markets Group.
