{"id":1004293937,"date":"2019-01-23T09:31:45","date_gmt":"2019-01-23T17:31:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004293937"},"modified":"2019-02-04T01:30:48","modified_gmt":"2019-02-04T09:30:48","slug":"markel-eagle-sells-richmond-office-asset-for-56m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/markel-eagle-sells-richmond-office-asset-for-56m\/","title":{"rendered":"Markel | Eagle Sells Richmond Office Asset for $56M"},"content":{"rendered":"<div id=\"attachment_1004293940\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004293940\" data-attachment-id=\"1004293940\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/markel-eagle-sells-richmond-office-asset-for-56m\/deep-run-3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3-e1548256399992.jpg\" data-orig-size=\"623,467\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Deep Run 3\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Deep Run 3&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3-e1548256399992.jpg?w=623\" class=\"wp-image-1004293940 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3-e1548256399992.jpg\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3-e1548256399992.jpg 623w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/01\/Deep-Run-3-e1548256399992.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004293940\" class=\"wp-caption-text\">Deep Run 3<\/p><\/div>\n<p>Markel | Eagle Partners has sold the Deep Run 3 office building in Richmond, Va., for $56 million. Cushman &amp; Wakefield | Thalhimer\u2019s Capital Markets Group represented the seller. The buyer remained undisclosed. Markel | Eagle paid $12.4 million to acquire the building out of foreclosure in 2011 from Bank of America, according to Yardi Matrix.<\/p>\n<p>Completed in 1997, Deep Run 3 is located at 9954 Mayland Drive in Henrico County. At closing, the 355,449-square-foot office was 98 percent occupied by seven tenants, including McKesson Medical-Surgical, Essex Bank and the East coast claims and billing center for Travelers Insurance.<\/p>\n<p>Markel | Eagle Partners invested $19 million to renovate the building in 2013. The upgrades included the addition of a 250,000-square-foot parking garage, a new roof, a fitness center, a 7,504-square-foot cafeteria, as well as mechanical upgrades to elevators and other systems.<\/p>\n<h2>Attractive investment<\/h2>\n<p>The office is under 1 mile from interstates 64 and 295, providing immediate access to metro Richmond. The neighboring area features several retailers, bars and restaurants. Downtown Richmond is approximately 13 miles away.<\/p>\n<p>\u201c<em>Deep Run 3 was highly sought-after while on the market late last year. The strength of the tenant roster and high quality of the asset brought a wide-range of investor interest from both institutional and international buyers,<\/em>\u201d said Eric Robinson, senior vice president at Cushman &amp; Wakefield | Thalhimer, in a prepared statement.<\/p>\n<p>Robinson, along with Executive Managing Director Eric Berkman completed the transaction. Back in May, the duo was responsible for closing the <a href=\"https:\/\/www.commercialsearch.com\/news\/bridge-sells-va-office-campus-for-62m\/\">$62 million sale of SunTrust Center<\/a> One and Two, also in Richmond, a 419,700-square-foot office complex acquired by FD Stonewater.<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield | Thalhimer Capital Markets<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company invested $19 million to renovate the 355,449-square-foot office building. Upgrades included the addition of a 250,000-square-foot parking garage and a new fitness center, among other amenities.<\/p>\n","protected":false},"author":1284,"featured_media":1004517941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,21747,36153],"tags":[33250,32799,36893],"class_list":["post-1004293937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-office","category-richmond-hampton-roads","tag-bank-of-america","tag-cushman-wakefield","tag-thalhimer-capital-markets"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Markel | Eagle Sells Richmond Office Asset for $56M - 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\/markel-eagle-sells-richmond-office-asset-for-56m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Markel | Eagle Sells Richmond Office Asset for $56M\" \/>\n<meta property=\"og:description\" content=\"The company invested $19 million to renovate the 355,449-square-foot office building. Upgrades included the addition of a 250,000-square-foot parking garage and a new fitness center, among other amenities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/markel-eagle-sells-richmond-office-asset-for-56m\/\" \/>\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=\"2019-01-23T17:31:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-02-04T09:30:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Deep-Run-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"467\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/markel-eagle-sells-richmond-office-asset-for-56m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/markel-eagle-sells-richmond-office-asset-for-56m\\\/\"},\"author\":{\"name\":\"Tudor Scolca\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"headline\":\"Markel | Eagle Sells Richmond Office Asset for $56M\",\"datePublished\":\"2019-01-23T17:31:45+00:00\",\"dateModified\":\"2019-02-04T09:30:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/markel-eagle-sells-richmond-office-asset-for-56m\\\/\"},\"wordCount\":276,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/markel-eagle-sells-richmond-office-asset-for-56m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2021\\\/04\\\/Deep-Run-3.jpg\",\"keywords\":[\"Bank of America\",\"Cushman &amp; 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