RICHMOND, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller, GID Investment Advisors of Boston, MA in the sale of Windsor Business Park located at 8550 – 8570 Magellan Parkway in Richmond, Virginia.
The 341,960 square foot class A business park consists of six buildings situated on approximately 62 acres of land and was 97.5% leased at the time of sale. Major tenants in the park include Bon Secours Health System, CVS and GPM Investments. 
 “GID did an outstanding job developing this project over the past 15+ years and we were glad to partner with them on the successful disposition of this asset. With a strong, credit tenant rent roll and long lease terms in place we are confident the new owner will continue the success of this portfolio”, said Eric Robison, Senior Vice President with Cushman & Wakefield | Thalhimer’s Capital Markets Group.
Rich Sullivan, Vice President at GID added, “GID benefitted from our partnership with Cushman & Wakefield | Thalhimer and are very pleased to achieve our development and investment objectives with this disposition. Throughout the entire cycle of development, lease-up, stabilized operations and disposition of the asset, Thalhimer was an integral partner, successfully brokering all leasing and the sale.”
With a co-invest from John B. Levy & Company, Inc., Fernau LeBlanc of Bethesda, Maryland acquired the asset.  In addition to investing with the sponsor, John B. Levy & Company, Inc. was the debt advisor and placed the majority of the equity through their affiliate Pickwick Capital. 
“We are excited to put our proprietary capital to use with Fernau LeBlanc in this well leased and located property.  We hope to continue the fantastic relationship the former owners enjoyed with the tenants and at the same time create outsized investment returns for our partners,” said Andy Little, a partner in the transaction and principal of John B. Levy & Company, Inc.  “This asset provides a lower cost space alternative to both suburban and downtown office properties while also providing convenient access to I-95, I-295 and I-64 for service oriented tenants,” he added.
The sale price was $33,290,000 ($97.00 PSF). The transaction was completed by Eric Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group, along with leasing advisors Evan M. Magrill, SIOR and N. Dean Meyer, SIOR of Thalhimer’s Richmond office.