The five-building Forest Office Park portfolio in Henrico County has been sold to Miami-based Equitable Real Estate Partners in a $24.1 million deal. Located at 1604 Santa Rosa Road in Richmond, VA., the portfolio includes the Almond, Culpepper, Lee, Ratcliffe and Wythe buildings. The 228,879 square-foot assemblage was 95 percent leased at the time of the sale with a mix of government, health-care, financial services and transportation tenants. In addition to the sale, CBRE|Richmond completed a long-term renewal of 127,694 square feet in the portfolio by Virginia’s Department of General Services. The renewal follows a renovation to the spaces leased by the commonwealth. Wilkins and Anderson has been tapped by the new owner to handle leasing of the assets.
“This is another instance of an out-of-town buyer coming into the Richmond market, ultimately putting Richmond on the map as the place to purchase real estate over other cities,” said Vera Magdeeva, spokeswoman for CBRE|Richmond, a commercial real estate firm in Henrico.
