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

Villa’s Flagler Housing wins national NAEH award


St. Joseph's Villa’s Flagler Housing & Homeless Services was one of three entities to earn the National Alliance to End Homelessness' Champion of Change Award. The awards were presented Nov. 17 during a ceremony at the Newseum in Washington, D.C.

NAEH annually recognizes proven programs and significant achievements in ending child and family homelessness.

Flagler completed its transition from an on-campus shelter to the community-based model of rapid rehousing in 2013, and it was one of the nation's first rapid re-housing service providers to be certified by NAEH. > Read more.

RIR’s Christmas tree lighting rescheduled for Dec. 12


Richmond International Raceway's 13th annual Community Christmas tree lighting has been rescheduled from Dec. 6 to Monday, Dec. 12, at 6:30 p.m., due to inclement weather expected on the original date.

Entertainment Dec. 12 will be provided by the Laburnum Elementary School choir and the Henrico High School Mighty Marching Warriors band. Tree decorations crafted by students from Laburnum Elementary School and L. Douglas Wilder Middle School will be on display. Hot chocolate and cookies will be supplied by the Henrico High School football boosters. > Read more.
Entertainment

Weekend Top 10


It’s going to be a cold weekend so if you’re headed out to the James River Parade of Lights or the Richmond Road Runners Club Toy Run 5K in Innsbrook, you’d better bundle up! If you’re looking for some indoor ways to celebrate the holidays, check out Three-Penny Theatre’s production of “A Christmas Carol: A Ghost Story for Christmas” or “To Drive the Cold Winter Away: An Irish Celebration of the Returning Light” at the Unitarian Universalist Community Church in Glen Allen. Also this weekend – the Henrico Theatre will show the holiday classic “Home Alone." For all our top picks this weekend, click here! > Read more.

 

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Enjoy an evening of holiday favorites featuring The Rainier Trio with soprano Leslie Mabe at 7 p.m. at The Cultural Arts Center at Glen Allen, 2880 Mountain Rd. The Rainier Trio captivates audiences with gems from the violin-viola-piano trio repertoire. The group consists of Kevin Matheson, violin; Bryan Matheson, viola; and Brenda Wittwer, piano. Tickets are $15 to $20. Dinner and beverages will also be available for purchase. For details, call 261-ARTS or visit http://www.artsglenallen.com. Full text

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