RICHMOND, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of Bank of America Center in Richmond, Virginia on behalf of the owner, an institutional investor represented by Cornerstone Real Estate Advisers.  Bank of America Center is an iconic high-rise, comprising 513,479 square feet on 24 floors, in the heart of Richmond’s Financial District. Central to the State Capitol, Federal Reserve Bank of Richmond and the Supreme Court of Virginia, the property, located at 1111 East Main Street, has long been a favorite address of the region’s top financial and legal institutions as well as a multitude of leading state agencies. Bank of America Center includes two owned parking garages as well as an attached four-story office pavilion all of which transferred in the sale. Major tenants include the Commonwealth of Virginia, Bank of America, Sands Anderson PC, McCandlish Holton, and DurretteCrump Law Firm.  The property was 71% leased at the time of the sale.
The property was acquired by an undisclosed private investment group made up of principals from Washington, D.C. and New York, NY.  Eric Robison, Senior Vice President of Thalhimer’s Capital Markets Group represented the Seller.