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| Stony Point II, , 9201 Forest Hill Avenue, Bon Air Area, Richmond, VA |
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| 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 | www.hfflp.com
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