Washington, D.C. firm buys SunTrust Center in Far West End
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A two-building office park in the Far West End has a new owner.
FD Stonewater of Washington, D.C. acquired SunTrust Center One and Two, at 11011 and 11013 West Broad Street, from Bridge Investment Group May 24 for $62.4 million.
The two buildings sit on about 32 acres and total nearly 420,000 square feet. SunTrust Center One has been leased entirely by SunTrust for 10 years, while SunTrust Center Two is fully leased to five tenants: SunTrust Bank, Magellan Health, RetailData, Home Care Delivered and EMC Corporation. The purchase is FD Stonewater's first in the Richmond-area market. Cushman & Wakefield | Thalhimer represented the seller and will continue to lease and manage the property for FD Stonewater. The release said that the sale had been completed by Eric Robison, a Senior Vice President in Cushman & Wakefield | Thalhimer’s Capital Markets Group, along with Eric Berkman Executive Managing Director, and William Collins, Executive Vice Chairman of Cushman & Wakefield in Washington, D.C.
“The asset was highly sought after not only due to the quality of the property and tenancy but also because the fundamentals of the Richmond market, particularly the Innsbrook submarket, are so strong,” said Cushman & Wakefield | Thalhimer Capital Markets Group Senior Vice President Eric Robison, who helped complete the sale.
