{"id":1004164832,"date":"2017-01-23T06:44:19","date_gmt":"2017-01-23T14:44:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004164832"},"modified":"2022-12-08T21:57:57","modified_gmt":"2022-12-09T05:57:57","slug":"hff-closes-108m-sale-of-historic-richmond-towers","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-closes-108m-sale-of-historic-richmond-towers\/","title":{"rendered":"HFF Closes $108M Sale of Historic Richmond Towers"},"content":{"rendered":"

By Laura Calugar<\/em><\/p>\n

\"James<\/a>

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

Richmond, Va.<\/strong>\u2014HFF recently announced that it has closed the sale of James Center, a three-building property totaling nearly one million square feet in Richmond, Va. The company marketed the asset\u00a0on behalf of the seller, LNR Property, a subsidiary of Starwood Property Trust Inc., but it also procured the buyer, Riverstone Properties. The James Center\u00a0was sold free and clear of existing debt.<\/p>\n

Located at 901, 1021 and 1051 East Carey St. on 3.4 acres, the property\u00a0is situated in the heart of the city\u2019s central business district. Developed by CSX Corp. and Faison Associates, the James Center comprises the 21-story One James Center, the 22-story Two James Center and the 14-story Three James Center. The towers\u00a0boasts\u00a0more than 986,000 square feet of Class A office space, a fitness center, five restaurants, a 1,600 space\u00a0parking garage and a 50,000-square-foot retail atrium that connects to the Omni Hotel.<\/p>\n

The buildings are close\u00a0to more than 100 restaurants, hotels and a plethora of retail and entertainment outlets, including the James River Park System, Short Pump Mall, Richmond Coliseum and Stone Brewery. Moreover, Amtrak\u2019s main street station is within walking distance from the towers.<\/p>\n

\u201cThe James Center was one of the most competitively pursued assets we have marketed this year and it received significant interest from a deep pool of institutional and private capital. The three office towers are staples of the Richmond skyline and offer a tremendous opportunity to acquire substantial critical mass in the Richmond CBD,\u201d said Christopher Lingerfelt, associate director at HFF, in a prepared statement.<\/p>\n

Developed in 1985, the James Center\u2019s site functioned once as the Great Turning Basin of the James River. Parts of the basin were used to build seating in The Plaza, an outdoor area that hosts different activities, such as concerts and the Grand Illumination.<\/p>\n

Nine months ago, LNR Property picked Colliers International<\/a> as exclusive leasing and management representative of the property.<\/p>\n

Image courtesy of James Center <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The office buildings were sold by LNR Property to Riverstone Properties.<\/p>\n","protected":false},"author":238,"featured_media":1004164839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,21747,36153],"tags":[32792,33597,33598,33599,33469],"class_list":["post-1004164832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-office","category-richmond-hampton-roads","tag-hff","tag-james-center","tag-lnr-property-corporation","tag-riverstone-residential-group","tag-starwood-property-trust"],"acf":[],"yoast_head":"\nHFF Closes $108M Sale of Historic Richmond Towers - 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\/hff-closes-108m-sale-of-historic-richmond-towers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFF Closes $108M Sale of Historic Richmond Towers\" \/>\n<meta property=\"og:description\" content=\"The office buildings were sold by LNR Property to Riverstone Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hff-closes-108m-sale-of-historic-richmond-towers\/\" \/>\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=\"2017-01-23T14:44:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T05:57:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/01\/Capture2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1156\" \/>\n\t<meta property=\"og:image:height\" content=\"836\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Laura Valean\" \/>\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\/hff-closes-108m-sale-of-historic-richmond-towers\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hff-closes-108m-sale-of-historic-richmond-towers\/\",\"name\":\"HFF Closes $108M Sale of Historic Richmond Towers - 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