RICHMOND, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller, Markel | Eagle Partners, in the sale of Deep Run 3 located at 9954 Mayland Drive in Henrico County, Virginia. 
Located in Richmond’s strongest suburban office market, the 355,449 square foot, class A office building recently underwent a $19 million renovation transforming it to a state-of-the-art office asset. Improvements included a new 250,000 square foot parking garage, new roof, fitness center, a 7,504 square foot cafeteria, and updated lobbies, elevators and building mechanicals. The property is 98% leased to seven tenants, including the headquarters of McKesson Medical-Surgical, the headquarters of Essex Bank, and the East Coast claims and billing center for Travelers Insurance.
An undisclosed buyer acquired the asset on January 11, 2019 for $56 million ($158 psf). 
“Deep Run 3 was highly sought after while on the market late last year.  The strength of the tenant roster and high quality of the asset brought a wide-range of investor interest from both institutional and international buyers,” noted Eric Robison, Senior Vice President at Cushman & Wakefield | Thalhimer.
The sale was completed by Eric Robison of Thalhimer’s Capital Markets Group, and Eric Berkman, Executive Managing Director of Cushman & Wakefield’s Washington, D.C. Capital Markets Group.