Sunday, December 25, 2016

HFF closes sale of office property in historic Bon Air area of Richmond, VA

Stony Point II, , 9201 Forest Hill Avenue, Bon Air Area, Richmond, VA

Ryan Clutter
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Stony Point II, a 50,237-square-foot office building in the historic Bon Air area of Richmond, Virginia.

HFF marketed the property on behalf of the seller, a partnership affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management, and procured the buyer, Select Income REIT.  The property was purchased free and clear of debt and is now managed by The RMR Group. 

Located at 9201 Forest Hill Avenue, Stony Point II is less than 10 miles from downtown Richmond in the Stony Point II/Huguenot submarket of Richmond. 

The 6.036-acre site is surrounded by high-end residential neighborhoods and has a full array of retail amenities nearby, including Stony Point Shopping Center and Stony Point Fashion Park.  

The multi-story property is fully leased to Universal Leaf on a long-term basis.

The HFF investment sales team representing the seller was led by senior managing director Ryan Clutter, director Scot Humphrey and associate director Chris Lingerfelt.

“Stony Point II was competitively pursued by a deep pool of capital and offers stable long-term cash flow backed by strong credit,” Lingerfelt said.

“The Richmond market continues to be perceived favorably by institutional investors who recognize the region’s strong fundamentals and growing economic base,” added Humphrey.

For a complete copy of the company’s news release, please contact:

Kristen Murphy
Director, Marketing
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
tel 617.848.1572 | fax 617.338.2150 |

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