A portfolio of 11 buildings in the Glen Forest Office Park in Henrico County, including these on Bayberry Court, sold for $87 million, county court records show. The 567,000 square feet of office space is in eight Class A office buildings, one medical office building and two Class B office buildings. The buildings, which are off Forest Avenue near the Glenside Drive exit off Interstate 64, have an overall 86% occupancy rate leased to 89 tenants, according to Cushman & Wakefield | Thalhimer, which represented the seller in the deal. The new owner is a partnership between Jack Sitt Realty from New York and Gulf Islamic Investments from Dubai. The buildings had been owned by an affiliate of Brookfield Asset Management Inc., which had acquired them in 2018 as part of its purchase of Forest City Enterprises. Forest City had bought them from several Pruitt family companies in 2007.
A portfolio of 11 buildings in the Glen Forest Office Park in Henrico County, including this one on Forest Avenue, sold for $87 million, county court records show. The 567,000 square feet of office space is in eight Class A office buildings, one medical office building and two Class B office buildings. The buildings, which are off Forest Hill Avenue near the Glenside Drive exit off Interstate 64, have an overall 86% occupancy rate leased to 89 tenants, according to Cushman & Wakefield | Thalhimer, which represent the seller in the deal. The new owner is a partnership between Jack Sitt Realty from New York and Gulf Islamic Investments from Dubai. The buildings had been owned by an affiliate of Brookfield Asset Management Inc., which had acquired them in 2018 as part of its purchase of Forest City Enterprises. Forest City had bought them from several Pruitt family companies in 2007.
A red and white sign saying retail space for lease.
Cushman & Wakefield | Thalhimer reports the following sales:
Commonwealth Commercial Partners reports the following sales:
- Marwaha Sarup Singh LLC purchased 38,000 square feet at 2500 and 2505 Pocoshock Place in Chesterfield from Sanadeema LLC for $2.4 million. Tucker Dowdy represented the seller.
- RCS Properties purchased 42,213 square feet at 7545 Midlothian Turnpike in Chesterfield from MW05 Richmond VA LLC for $4 million. Ben Bruni and Carl Blackwell represented the purchaser.
- Virginia Electric and Power Co. purchased 11.8 acres at 212 Dry Bridge Road in Chesterfield from Watkins Land LLC for $530,000. Bill Barnett, Joe Buhrman and Chris Jenkins represented the seller.
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