Richmond, VA – June 8, 2021 – Colliers International is pleased to announce the sale of Deep Run Business Centre I & II, located at 3955-3991 Deep Rock Road in Richmond’s West End submarket. The 88,118 square foot, 2 building flex portfolio was acquired by Maryland based Feldman Bergin Properties.
The assets are 100% occupied and leased to a diverse tenancy including Capel Rugs, Phoenix Fitness, Next Day Cabinets and AT&T among others. The assets’ central location in Richmond provides a ground zero location for a wide range of showroom, home improvement and fitness users.
”The assets offer occupiers the functionality and efficiencies of flex space with premier visibility and accessibility to over 43,000 vehicles per day on Broad Street, a major differentiator from other flex product in Richmond” said Colliers Vice President Mark Williford. “Capital is focused on stability and growth in irreplaceable locations – Deep Run Business Centre I&II has all three”.
“We couldn’t be more pleased with the outcome of the sale. When we purchased Deep Run, the property was 64% leased. Over the last few years we were able to invest in the property and bring it to 100% occupancy. We expect that the asset will continue to perform at a high level for the new owners and wish them much success” said Adam Santos, President of The Premier Companies.
Will Bradley, Executive Vice President and Mark Williford, Vice President, represented the Seller, The Premier Companies (https://www.premierinvestment.com/) based in Bethesda, Maryland.
Colliers Virginia has offices in Charlottesville, Fredericksburg, Richmond, and Norfolk. To learn more about Colliers or to view other investment sales opportunities, please visit: www.colliers.com/richmond