JLL Completes Sale-Leaseback of Virginia Office Buildings

Two office buildings in suburban Richmond, Va., have sold for $16 million. Jones Lang LaSalle completed the sale and short-term leaseback of 11011 and 11013 West Broad Street on behalf of Capital One Services Inc. A joint venture between New Boston Fund and RER Equities Inc. bought the two 5-story office buildings — both owner-occupied — that total 453,660 sq. ft. "The exceptional value, superb location and high visibility of the buildings, combined with the fact that it is one of the few remaining large parcels of land along West Broad Street, proved very attractive to buyers," says JLL Senior Vice President Guy Ponticiello. Ponticiello adds that the buildings’ efficient floor plans will ensure that these properties will continue to be attractive to prospective single or multiple tenants after Capital One relocates next year.

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