Cushman & Wakefield | Thalhimer’s Capital Markets Group has represented the seller, CIG 6290 RFO LLC, an affiliate of Cohen Investment Group,in the sale of Warwick Trade Center located at 6290 Old Warwick Road in Richmond, Virginia.Cohen Investment Group (CIG) is a privately held real estate investment firm, based out Norfolk, VA transacting on almost $1 Billion in investment real estate since 2014. CIG currently owns over 65 properties in 13 states across the USA.”
Warwick Trade Center is a 100% leased, 38,056 square foot flex industrial property located off two major thoroughfares in Richmond. The property, situated on 2.25 acres, is fully leased to a loyal and seasoned tenant roster of eleven users including construction firms, general contractors, environmental consultants, and auto detailers. The Midlothian/South Richmond flex submarket is one of the strongest in the Southeast boasting 23% rent growth over the past 24 months and a vacancy rate of 0.6%.
Standard Properties, Inc.,out of Washington, DC,acquired the asset on September 27, 2022 for $3,700,000 ($97 PSF). Sale negotiations were handled by Bo McKown and Eric Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group.
About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, VA. The company has nearly 100 broker professionals and employs over 425 associates. Thalhimer represents, on behalf of its clients, a property portfolio of over 55 million leasable square feet, and management of over 30 million square feet of commercial property, and over 10,000 multifamily units. In 2021, Thalhimer completed over 2,300 transactions with a transactional volume more than $2.2 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties.
To learn more, visit www.thalhimer.com or follow @Thalhimer on Twitter.
Thalhimer’s Capital Markets Group is the region’s leading investment sales team made up of professionals focused solely on capital markets and the sale of income-producing properties throughout Virginia. The team is experienced in office, industrial, retail and multi-family dispositions and since 2012 has completed 313 transactions totaling over $4.96 billion and over 57.4 million square feet.
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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
