Tower Medical

Colliers is exclusively representing the ownership in the sale of Tower Medical, a distinguished 20,067-square-foot medical office building located at 13520-13540 Hull Street in Midlothian, Virginia. Strategically positioned along the highly trafficked Hull Street commercial corridor, which boasts over 78,000 vehicles per day, Tower Medical is a premier suburban medical office asset within the Richmond metropolitan area.

This offering presents a compelling opportunity for value-add medical investors and potential owner-users. With an in-place CAP rate of 10.60% through the remainder of 2026, the primary value creation opportunity lies in leasing up the approximately 12,336 square feet of prime medical space (Suite 3540) that will become available at the end of 2026. This vacancy provides a unique chance for a buyer to release the building's most highly desirable space at a higher market rate. Investors are insulated from potential downtime by a 12-month pre-leasing runway to replace the existing tenant. Upon stabilization, investors can conservatively expect annual return above 10%. Tower Medical represents a prime value-add opportunity in a high-quality asset, offering significant upside potential in a high-growth submarket.​​​​​​​

Available