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Q3 2021 Office Market Snapshot | Richmond Urban Market

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Market Fundamentals for Q3 2021:

  • Total RBA: 10,420,789
  • Total Vacant: 1,122,841
  • Vacancy Rate: 10.8%
  • Availability Rate: 17.6%
  • Average Asking Rent: $23.48
  • Quarter Direct Absorption: 20,340
  • 12 Month Net Absorption: 57,166
  • SF Under Construction: 107,895

richmondUrbanQ3

Q3 2021 Office Market Snapshot | Richmond Urban Market

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Related Experts

David Wilkins

Managing Director- Richmond

Richmond - North

As Managing Director of the Richmond office, I am responsible for leading the central Virginia brokerage operation consisting of more than of 40 professionals and support staff. In this role, I am responsible for the strategic direction and performance of the region.  And with more than 20 years of experience in the commercial real estate industry, I have acquired a diverse skill set to develop and implement real estate strategies to maximize my customers’ success.  Throughout my career, I have guided owners, occupiers and developers of commercial real estate to create solutions congruent with their short- and long-term business goals.  
I have experience as a single point-of-contact providing complete transaction management and consulting services for my customers. I am fully committed to the customer to ensure smooth transition between project phases while leveraging resources for a direct impact to the bottom line and the success of each project.

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Thomas Vozenilek

Executive Vice President

Richmond - North

Tom Vozenilek joined the firm 2001 with 23 years of commercial sales and leasing experience. Tom's principal activity for the last 30 years has been Transaction Management. He was part of the original team at Virginia Landmark that started Tenant/Buyer Representation in the Central Virginia Market in 1986. Tom’s clients have included state agencies, universities, Fortune 500 corporations and a variety of regional and local firms.

Previously, he was Partner and Senior Vice President of Virginia Landmark.

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Matt Anderson

Executive Vice President

Richmond - North

Matt joined the firm in 2006 as a junior agent with no previous real estate background, learning the business from the ground up. He quickly became an integral part of the brokerage team representing owners and occupiers of office and industrial properties. 
Matt’s role as a strategic advisor to the businesses he works with has evolved into a passion for regional prosperity. He has had the opportunity to be a part of some of the most exciting real estate transactions in the Richmond MSA that have created significant employment opportunities in the community. Since 2006, he has negotiated over 800 transactions valued at over $1 billion involving government agencies, national corporations, REITs, national developers, and local businesses. 
In 2017 Matt earned the SIOR designation (Society of Industrial and Office Realtors®). This designation is a professional symbol of the highest level of knowledge, production, and ethics in the real estate industry. To ensure he keeps current with real estate trends and practices, Matt attends conferences and is an active member of various industry associations. Matt takes great pride in his teamwork, communication, and the highest level of customer service. 
Matt provides the following services to his clients with a strong emphasis on teamwork, communication, and the highest level of customer service: 

  • Market Evaluation        
  • Lease/Purchase Agreement Negotiation Support
  • Disposition Strategy/ Execution
  • Lease Renewal vs. Relocation Analysis
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Will Bradley

Executive Vice President

Richmond - North

Will Bradley is an Executive Vice President for Colliers International specializing in investment sales across the country. With over 15 years of experience and $1+ billion in sales, Mr. Bradley brings a holistic strategic approach to his client’s goals and needs facilitated through a highly sophisticated and creative process that provides unparalleled results and long-term, multi-transactional relationships. 


Mr. Bradley’s relationships with a wide composition of capital from institutional to high-net-worth and experience transacting across a variety of asset types including office, industrial and flex assets provide him a unique perspective in today’s capital markets. Prior to joining Colliers International, Mr. Bradley spent a decade with CBRE where he grew from the region’s sole analyst to its #1 producer.

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Malcolm Randolph Jr.

Senior Vice President

Richmond - North

Malcolm Randolph is a real estate advisor with a focus on the leasing and sales of office and healthcare properties.  Within his area of expertise, Malcolm advises both property owners and companies to assist them make informed, strategic real estate decisions. 

Malcolm has extensive experience developing and executing real estate strategies in Richmond and across the United States for clients ranging from small, local firms to Fortune 500 companies. He and his team guide their clients by offering a range of services including lease transactions, sales, project management, move management, lease administration, lease audit and portfolio strategy.

Malcolm is a founding member of the Richmond office's Medical Advisory Group. He and his team focus on assisting medical practices and medical property owners evaluate their real estate needs and execute strategies to help them meet their goals.  Malcolm and his team’s market share in the medical sector have afforded them unparalleled experience and market data which directly benefits their clients in making the most informed real estate decisions.

In addition to his work with healthcare and office occupiers, Malcolm has established a successful track record of leasing Class A office properties in the Richmond market.   His clients range from locally based property investors to publicly traded real estate investment trusts (REITs).  In this role, Malcolm and his team advise their clients on the repositioning, renovation, marketing and leasing of a variety of office assets. 

A native of Richmond, Malcolm began his career in the commercial real estate industry in 2003 with the same firm that became Colliers International Virginia in 2019.  He was elected as a principal of the firm in 2011. 

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