Thalhimer’s Capital Markets Group Completes Sale of Deep Run 3 in Richmond
Premier Class-A Office Investment | 355,253 SF 84% Leased | Fortune 500 Tenant Anchored
RICHMOND, VIRGINIA, September 22, 2025 – Cushman & Wakefield | Thalhimer’s Capital Markets Group announces the sale of Deep Run 3, a 355,253 square foot premier Class A office building located at 9954 Mayland Drive in Richmond (Henrico County), Virginia.
Marwaha Business Plaza, LLC, acquired the property on September 22, 2025. Eric Robison of Thalhimer’s Capital Markets Group represented, Principal who was responsible for servicing the loan on the property.
“Acquiring Deep Run 3 is a key step in our strategy to unlock the full potential of high-quality office assets. As part of our vision, we will rebrand the asset as Marwaha Business Plaza, positioning it as a premier business destination. We are committed to implementing an aggressive leasing and marketing strategy to both retain existing tenants and attract new clientele, driving long-term value creation while transforming the building into a vibrant, best-in-class workplace,” said Gagan Marwaha, principal of
Marwaha Investments, one of the area’s most active office investors.
“With Richmond market fundamentals continuing to outperform peer cities in the mid-Atlantic and back-to-office work still showing momentum, this acquisition is poised for a successful future under new ownership,” said Robison
Deep Run 3 is located in the heart of the Innsbrook submarket, Richmond’s premier suburban office location. Currently 84.3% leased to ten total tenants, Deep Run 3 is the headquarters to the Medical-Surgical division of McKesson (NYSE: MCK | # 9 on Fortune 500 | Moody’s: BBB+), which employs over 750 people at the property and delivers medical-supply distribution, logistics, biomedical maintenance, and other services to more than 275,000 health care providers. Deep Run 3 is also home to one of the largest field offices in the country for Travelers Insurance (NYSE: TRV | Fitch: AA) and the headquarters for TForce Freight, the subsidiary of the Canadian transportation and logistics company TFI International. A recent $16 million capital improvement plan, including a 250,000 square foot parking garage, fitness center, cafeteria, shared conference room, and new lobbies, has solidified the asset as a best-in-class suburban office building in the Richmond MSA.
For Further Information Contact:
Eric Robison
President
Capital Markets Group
+1 804 697 3475
eric.robison@thalhimer.com
Gagan Marwaha
Marwaha Investments
+1 804 466 3120
gmarwaha@marwahainvestments.com
About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, Virginia. The company has nearly 100 broker professionals and employs approximately 530 associates. Thalhimer represents, on behalf of its clients, a property portfolio of 54 million leasable square feet, management of more than 28 million square feet of commercial property, and nearly 12,000 multifamily units. In 2024, Thalhimer completed over 1,800 transactions with a transactional volume of more than $1.96 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services, including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties.
Thalhimer’s Capital Markets Group is the region’s leading investment sales team made up of professionals focused solely on capital markets and the sale of income producing properties throughout Virginia. The team is experienced in office, industrial, retail and multi-family dispositions and since 2012 has completed 424 transactions totaling over $6.2 billion and over 66 million square feet.
To learn more, visit www.thalhimer.com.
Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2024, the firm reported revenue of $9.4 billion across its core service lines of Services, Leasing, Capital markets, and Valuation and other. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.
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