{"id":1004140855,"date":"2016-04-04T03:28:26","date_gmt":"2016-04-04T11:28:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004140855"},"modified":"2020-05-11T02:39:47","modified_gmt":"2020-05-11T10:39:47","slug":"richmonds-150m-james-center-gets-new-leasing-management-rep","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/richmonds-150m-james-center-gets-new-leasing-management-rep\/","title":{"rendered":"Richmond\u2019s $150M James Center Gets New Leasing, Management Rep"},"content":{"rendered":"

By Bogdan Odagescu, Associate Editor<\/em><\/p>\n

\"James<\/a>

James Center, Richmond, Va.<\/p><\/div>\n

Richmond, Va.<\/strong>\u2014LNR Partners, the new James Center<\/a> owner, recently picked Colliers International as exclusive leasing and management representative of the prominent three-building office complex in downtown Richmond, Va.<\/p>\n

Up until recently, James Center was heading for foreclosure<\/a>, with an auction scheduled for March 8, 2016. New York-based JEMB Realty, which bought the asset in 2005 for $185 million, was facing foreclosure after defaulting on loans totaling $150 million. However, the auction was canceled and the James Center was transferred<\/a> March 21, 2016, to Miami Beach-based LNR Partners, the mortgage company that was handling the property\u2019s distressed loan. Prior to the transfer of the asset, JLL was acting as leasing agent.<\/p>\n

The new leasing efforts<\/a> will be spearheaded by Chris Wallace, Andrew Ferguson and Austin Newman of Colliers|Richmond. Property management<\/a> will be led by Tim Allison, national executive managing director of real estate management services, who will act as on-site point of contact. At the time of publication, James Center had approximately 330,000 square feet of space available for lease in all its buildings combined, bringing the property\u2019s occupancy level at two thirds.<\/p>\n

Sitting in the heart of downtown Richmond at 901, 1021 and 1051 E Cary St., the three buildings offer a total of almost one million square feet of Class A office space, five restaurants, a health club, a 1,400-spot parking garage and approximately 50,000 square feet of retail space connecting to the Omni Richmond Hotel. According to the City of Richmond\u2019s Real Estate Assessor\u2019s Office, the 2016 assessment estimated the value of the complex at $147.4 million.<\/p>\n

Image courtesy of james-center.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Sitting at 901, 1021 and 1051 E Cary St., in the heart of the city\u2019s financial district, the three buildings offer a total of nearly one million square feet of Class A office space.<\/p>\n","protected":false},"author":740,"featured_media":1004140858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21825,11,21742,21747,21785,36153],"tags":[],"class_list":["post-1004140855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-finance","category-midatlantic","category-latest","category-office","category-property-management","category-richmond-hampton-roads"],"acf":[],"yoast_head":"\nRichmond\u2019s $150M James Center Gets New Leasing, Management Rep - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/richmonds-150m-james-center-gets-new-leasing-management-rep\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Richmond\u2019s $150M James Center Gets New Leasing, Management Rep\" \/>\n<meta property=\"og:description\" content=\"Sitting at 901, 1021 and 1051 E Cary St., in the heart of the city\u2019s financial district, the three buildings offer a total of nearly one million square feet of Class A office space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/richmonds-150m-james-center-gets-new-leasing-management-rep\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-04-04T11:28:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T10:39:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/04\/James-Center-james-center-dot-com.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1100\" \/>\n\t<meta property=\"og:image:height\" content=\"739\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bogdan Odagescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/richmonds-150m-james-center-gets-new-leasing-management-rep\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/richmonds-150m-james-center-gets-new-leasing-management-rep\/\",\"name\":\"Richmond\u2019s $150M James Center Gets New Leasing, Management Rep - 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