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).
The John Rolfe YMCA and Gayton Baptist Church have partnered in an effort to bring greater health and wellness opportunities to the community.
Through this partnership, the John Rolfe Y will run Youth Winter Sports programs, including basketball and indoor soccer, in Gayton’s newly renovated $5.5 million outreach center that features a new gymnasium, youth and teen space, social space with café, meeting space and full service commercial kitchen. > Read more.
Citizen Staff Reports 09/15/2014
Henricus Historical Park will commemorate its anniversary during Publick Day, a signature annual event that celebrates the establishment of the second successful English settlement in the New World. In September 1611, Sir Thomas Dale, along with soldiers, tradesmen and farmers, ventured from Jamestown to create the Citie of Henricus. Leaders of Henricus developed the first English hospital, chartered the first college in North America, established tobacco as the first cash crop in Virginia, and created a place where Pocahontas lived and met John Rolfe.
Publick Day will take place Saturday, Sept. 20, from 10 a.m. to 5 p.m. Admission is free and parking is $5 per vehicle. > Read more.
As part of its 30th anniversary year and partnership with the Children's Museum of Richmond, Commonwealth Parenting will present a six-part RVA Parents Forum Series to address some of the toughest issues confronting parents.
Parenting experts and family educators will tackle topics ranging from bullying to alcohol, sex to divorce, and technology and stress. Parents will learn how to identify potential problems.
"We're excited about bringing this much-needed forum series to parents in central Virginia. Through our valuable partnership with Commonwealth Parenting, we can have a deeper impact in the community through parent and caregiver education," said Karen Coltrane, president and CEO of the Children's Museum of Richmond. > Read more.
Check out these three B’s in Henrico this weekend: books, bluegrass and “Born Yesterday.” Other activities to participate in – and feel good about – are the 15th annual James River Regional Cleanup and the 5th annual Richmond Out of the Darkness Community Walk. For all our top picks this weekend, click here! > Read more.
Inspirational football movie tries too hard for its own good
When the Game Stands Tall is based on a true story – an unbelievable true story that takes the word “inspiring” about as far as it can go.
It’s a film about Bob Ladouceur, coach of the De La Salle High Spartans, a California high school football team with 12 consecutive undefeated seasons (a staggering 151 games won in a row).
Along the way, Ladouceur (played by Jim Caviezel) faced the kind of hardship most football coaches (thankfully) can only imagine – suffering a near-fatal heart attack, the death of a star player, and rebuilding the team after that 151-game streak came to a humiliating end. > Read more.
Enjoy political comedy at its finest with The Capitol Steps at The Cultural Arts Center at Glen Allen. Methodist and Baptist churches unite for the fourth annual Mission Footprint 5K, taking place at Trinity UMC. Or in honor of Grandparent’s Day on Sunday, treat them to A Grand Family Affair or maybe a movie – the 1978 film “Superman” is at the Henrico Theatre. For all our top picks this weekend, click here! > Read more.
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ClassifiedsREADERS & MUSIC LOVERS. 100 Greatest Novels (audio books) ONLY $99.00 (plus s h.) Includes MP3 Player & Accessories. BONUS: 50 Classical Music Works & Money Back Guarantee. Call Today!… Full text
CalendarThe Henrico Theatre Company will present “Born Yesterday,” a classic comedy by Garson Kanin, Sept. 12-28 at The Cultural Arts Center at Glen Allen, 2880 Mountain Rd. Evening performances begin… Full text