RICHMOND, VIRGINIA:  Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the Seller in the sale of eleven office buildings in the Innsbrook submarket, consisting of approximately 359,000 SF with a total sales price of $40.7 million. The portfolio was sold in two separate transactions to two buyers.  Both sales were completed by Eric Robison of Cushman & Wakefield | Thalhimer’s Richmond office.
   Four properties located off of Nuckols Road in the Concourse at Wyndham were sold to Westdale Real Estate Investment and Management out of Dallas, Texas. Properties included in the sale are: West Shore I, 18,765 SF; West Shore II, 28,355 SF and West Shore III, 53,690 SF; and Grove Park I, 62,471 SF.  This is Westdale’s second office acquisition in Richmond this year. 
   “This acquisition is another indication of investors confidence in the growth potential of the Richmond market,” Robison said, “It is particularly strategic for Westdale who acquired East Shore I, II and III earlier this year and has now accumulated 386,000 sf of primarily class-A office buildings  in the Concourse at Wyndham, a niche market within the highly successful Innsbrook submarket.” 
   The remaining properties in the portfolio were sold to the Lingerfelt Companies and are all located in the prestigious Innsbrook Corporate Center.  The Lingerfelt acquisition consists of 195,881SF and thirty-four tenants among five properties in Vantage Park, and two properties in Technology Park.  The buildings are further described below:
     – Vantage Pointe: two-story office building consisting of 65,313 SF, originally built in 1988
     – Vantage Place A – D:  four, single-story office buildings totaling 58,841 SF, originally built in 1987
     – Technology Park I & II:  two, single-story office buildings totaling 71,727 SF, originally built in 1991
   Eric Robison stated, “The Lingerfelt Companies, with their familiarity of the strategic advantages associated with office product in the Innsbrook Corporate Center, were a logical buyer for this highly sought after offering.”