Western Henrico office building sold
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A West End office building in Henrico County has a new owner – and soon will have a new name.
Marwaha Business Plaza, LLC purchased Deep Run 3, a 355,253-square-foot Class A office building at 9954 Mayland Drive, on Sept. 22.
Eric Robison of Thalhimer’s Capital Markets Group represented Principal, which was responsible for servicing the loan on the property.
"Acquiring Deep Run 3 is a key step in our strategy to unlock the full potential of high-quality office assets," said Gagan Marwaha, principal of Marwaha Investments, which has been one of the area’s most active office investors. "As part of our vision, we will rebrand the asset as Marwaha Business Plaza, positioning it as a premier business destination."
The company intends to aggressively lease vacant space and re-sign existing tenants, Marwaha said.
The building slightly more than 84% leased and houses the headquarters to the Medical-Surgical division of McKesson, which employs more than 750 people at the site. The company delivers medical-supply distribution, logistics, biomedical maintenance, and other services to more than 275,000 health care providers.
Deep Run 3 also is home to one of the largest field offices in the country for Travelers Insurance and the headquarters for TForce Freight, the subsidiary of the Canadian transportation and logistics company TFI International.
The building recently underwent $16 million worth of upgrades, including a 250,000-square-foot parking garage, a fitness center, cafeteria, shared conference room, and new lobbies.
