Developer purchases 14 West End buildings in deal valued at nearly $100M
Fourteen West End office buildings will soon have a new – but familiar – owner.
Lingerfelt Development today announced that it would purchase the buildings, which total 919,000 square feet, from Liberty Property Trust in a deal that is valued at nearly $100 million. The properties all were part of the Lingerfelt Development Corporation in 1995, when that company's founder, Alan Ligerfelt, sold the company to Liberty Property Trust.
Eight of the buildings, including the Snagajob.com building, are located in Innsbrook. The purchase also includes two buildings on Westgate Parkway, two on Westerre Parkway, one on Gaskins Road and the Patient First building at Woodman and Parham roads.
“This portfolio is particularly strong, since the properties are 98 percent leased, Class A commercial, and located within the desirable Innsbrook area," said Ryan Lingerfelt, principal of Lingerfelt Development. "The current tenants, and the local commercial real estate community, are already very familiar with our name.”
The Lingerfelt family has built or acquired more than 11 million square feet of commercial space during a period of more than half a century. The properties it has owned serve from medical to professional to industrial uses and include data, call and emergency care centers, elderly housing, nursing homes and multifamily developments across the eastern U.S., primarily in Virginia, North Carolina, South Carolina, Tennessee, Maryland and Illinois.
The buildings acquired in today's deal are:
• Snagajob Building, 4880 Cox Road, Glen Allen (58,726 square feet);
• Liberty Plaza I, 4801 Cox Road, Glen Allen (80,397 square feet);
• Bay Harbor Consulting Building, 4198 Cox Road, Glen Allen (44,089 square feet);
• Rowe Plaza, 4510 Cox Road, Glen Allen (72,655 square feet);
• Innsbrook Commons, 4121 Cox Road, Glen Allen (59,053 square feet);
• TechPointe I, 5000 Cox Road, Glen Allen (58,367 square feet);
• TechPointe II, 5500 Cox Road, Glen Allen (53,863 square feet);
• Gaskins Center II, 3829-3855 Gaskins Road (44,926 square feet);
• Westgate I, 100 Westgate Parkway (91,752 square feet);
• Westgate II, 200 Westgate Parkway (60,266 square feet);
• Westerre IV, 3901 Westerre Parkway (78,120 square feet);
• Westerre III, 3900 Westerre Parkway (76,128 square feet);
• Patient First, 2300 East Parham Road (5,172 square feet);
• Liberty Plaza II, 10800 Nuckols Road, Glen Allen (135,375 square feet).
Henrico's Lewis Ginter Botanical Garden is one of only 20 gardens in North America nominated for USA Today’s “10Best Reader’s Choice” contest for Best Public Garden.
The 20 public gardens nominated are:
• Bloedel Reserve, Bainbridge Island, Wash.
• Brooklyn Botanic Garden, Brooklyn, New York
• Buthcart Gardens, Victoria, B.C.
• Callaway Gardens, Pine Mountain, Ga. > Read more.
Photo by Patty Kruszewski/Henrico Citizen 02/24/2014
The Fifth Annual Henrico Police Athletic League (PAL) Award Banquet, held Feb. 6 at The Cultural Arts Center at Glen Allen, honored HPAL’s top volunteers and employees, including Morgan Lewis, Youth of the Year; Dale Alexander, Volunteer of the Year; Lowell Thomas, Employee of the Year, and Victor Williams, Board Member of the Year. Also honored for their support were Jim and Christi Dowd of Richmond BMW and Josh Davis of Henrico County Public Schools Pupil Transportation.
Keynote speaker for the banquet was Tim Hightower, a University of Richmond alumnus and former NFL running back. Hightower was introduced by Billy McMullen, former NFL player and a Henrico PAL board member. > Read more.
The Pocahontas Chapter of the National Society Daughters of the American Colonists, based in western Henrico, last year donated more than $1.3 million worth of manufacturers coupons to U.S. military personnel overseas. Throughout 2013, members and friends of the chapter clipped 952,349 manufacturers’ coupons valued at $1,350,630, which Program Chairman Carole Featherston shipped to U.S. military bases abroad. Military personnel can use the coupons when shopping in base stores.
The National Society Daughters of American Colonists is a women’s genealogical and patriotic society whose members are descended from a man or woman who rendered civil or military service in any of the American colonies prior to July 4, 1776. > Read more.
If you’re looking for a date night with someone special, Henrico is the place to be! Check out a classic 90s movie, “My Girl,” at Henrico Theatre; Circa, an innovative circus from Australia, will dazzle at the University of Richmond; and celebrate TGIF at Keagan’s Restaurant where the PJ Bottoms Band is performing. For all our top picks this weekend, click here! > Read more.
Abstract paintings of Inge Strack (pictured) are on display through March 9 at the Gumenick Family Gallery at The Cultural Arts Center at Glen Allen. Strack, a Chestefield painter of German origin, often paints in bold colors with a deep sense of emotion, focusing on brushstrokes, texture and form to find a balance. Strack’s painting is routed in the European tradition of expressionism but has found its own, unique language in following the American dream.
“I am not attempting to abstract the physical world," she said. "I draw my subject matter from inside of myself hoping to create a constant conversation between the viewer and the painting, especially since abstracts do not seem to answer but ask.” > Read more.
Do you play pickleball? Learn more about this oddly-named but fun-to-play sport tomorrow! Though it’s still pretty chilly outside, you can get a jump start on spring at the Richmond Home and Garden Show or at a workshop on raised bed gardening at Lavender Fields Herb Farm. For all our top picks this weekend in Henrico, click here! > Read more.
- More Henrico News