A Charlotte-based real estate investment company has made its first big move in Richmond.
SilverCap Partners purchased Villa Park III, an 89,000-square-foot office building, from U.S. Bank last month. The $3 million deal closed nearly two weeks ago, according to Cushman & Wakefield Thalhimer broker Mark Douglas.
The building at 7870 Villa Park Dr. in Henrico County currently has two tenants: OfficeMax and Honeywell. About 63,000 square feet are vacant, Douglas said.
U.S. Bank National Association had owned the building since 2009. It was built in 1998.
The property’s assessed value dropped sharply in 2010, from $9.03 million to $5.87 million, according to Henrico County records. It was most recently assessed at $5.22 million.
SilverCap Partners does not have any other properties in the Richmond area, according to Trey Dempsey, a co-founder of the firm.
The deal comes on the heels of a new tenant signing a sizeable lease at the nearby Villa Park I. That property is owned by Markel Eagle Partners and Diversified Realty Ventures.