Henrico County VA

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).
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Community

10th annual Filipino Festival coming in August


The 10th Annual Filipino Festival will be held Aug. 7-8 at Our Lady of Lourdes Church, 8200 Woodman Rd., beginning with opening ceremonies at 5 p.m. Friday and continuing with live entertainment, food and exhibits until 10 p.m. On Saturday the festival will take place from 10 a.m. to 10 p.m. with a full schedule of performances featuring traditional Filipino dance, music and song.

Filipino cuisine, including BBQ, pansit, lumpia, adobo, halo-halo, lechon, empanada and leche flan, will be available for purchase. The festival will also feature a children's area, church tours, exhibits, and health screenings. > Read more.

CMoR reopens at new Short Pump site

The Children’s Museum of Richmond last week opened its new Short Pump location at Short Pump Town Center, to the delight of children who attended a sneak preview of the location July 10. The new facility, located under the forthcoming LL Bean store (formerly the food court) is 8,500 square feet in size – much larger than CMoR’s former Short Pump location at West Broad Village, which opened in 2010. The new space includes The CarMax Foundation Service Station, the Silver Diner, a grocery store, a performance stage and an art studio, as well as a giant Light Bright Wall. > Read more.
Entertainment

Weekend Top 10


The Virginia Hispanic Chamber of Commerce and Henrico Police are both presenting community events tomorrow, Aug. 1. The Feria Community Resource Fair at Richmond International Raceway brings together community service providers, embassies/consulates from Latin American countries, government agencies, nonprofit organizations and corporations that impact the Latino community. The Division of Police’s Community Day will feature demonstrations and displays from police, fire, animal protection and sheriff’s office, as well as family activities, food, entertainment and more. Other events this weekend include wine, chess and theatre! For all our top picks this weekend, click here! > Read more.






 

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Weichert, Realtors – Baron & Snipes will offer a free homebuyer seminar from 6 p.m. to 8 p.m. Aug 11 and 18 at the SunTrust Building at 5600 Cox Rd.… Full text

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