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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West End apartment fire injures 1


SEPT. 25, 10:30 A.M. – A West End apartment fire injured one person Sunday afternoon.

The fire broke out in the third floor of the Chase Gayton apartment complex in the 10 block of Chase Gayton Drive, near the intersection of Gaskins Road and Quioccasin Road, at about 1:20 p.m. Sept. 24. > Read more.

Crime Stoppers’ Crime of the Week: Sept. 25, 2017


Crime stoppers needs your help to solve a double homicide that occurred in the City of Richmond in June of this year.

On Wednesday, June 7, at approximately 9:53 p.m., Richmond police officers responded to several calls for random gunfire in the 3600 block of Decatur Street. They arrived and found the victims, two males, Christian Singleton and Ketron Wells. The victims were outside on the ground lying near each other. Both victims had received fatal gunshot wounds. > Read more.

Richmond Astronomical Society to present night sky astronomy at Libbie Mill, Varina libraries


The Richmond Astronomical Society and Libbie Mill Library will host a presentation about the night sky and its astronomy Sept. 28, from 7 p.m. to 9 p.m.

Attendees will enjoy amazing views of the moon and other celestial objects with high-quality telescopes operated by members of the Richmond Astronomical Society. Guests will be able to see craters and seas on the surface of the moon with clarity and detail. > Read more.

Henrico home sales continue on strong pace


The number of homes sold in Henrico County in August rose 10 percent when compared to the same month last year, according to data compiled by Long & Foster. The average sale price of those homes – $239,975 – also rose, by about 4 percent when compared to the same average sale price in August 2016.

Henrico's jump in the number of homes sold was the largest in the Richmond region, though average sales prices in Chesterfield (8 percent increase) and Richmond (12 percent) jumped by higher amounts when compared to last August sales. > Read more.

Thoracic surgeon is first to perform 100 robot-assisted lobectomies in Central Virginia


Graham M. Bundy, a thoracic surgeon with HCA Virginia Physicians’ Cardiothoracic Surgical Associates, is the first such surgeon in Central Virginia to perform 100 minimally-invasive Da Vinci robot-assisted lobectomies (a surgical procedure to remove a lobe of the lung). The procedure is used to treat multiple types of conditions but is most often used to treat lung cancer. > Read more.

Henrico Business Bulletin Board

September 2017
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Get your “passport” and time-travel through Henrico history by visiting historic sites during Time Travelers Weekend Sept. 23-24 from 12 p.m. to 4 p.m. Participating sites include: Dabbs House Museum, Meadow Farm Museum, Walkerton Tavern, Virginia Randolph Museum, Courtney Road Gas Station, Clarke-Palmore House Museum and Deep Run School House. Admission is free. For details, call 652-1426 or visit http://www.henrico.us/rec. Full text

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