The price tag on a Boston-based firm’s acquisition of four West End office buildings reached eight figures.
Grander Capital Partners, through Glen Forest Richmond LLC, paid $14.25 million for 7110 Forest Ave. and 7200, 7202 and 7204 Glen Forest Drive, according to Henrico County records. The sale closed May 4 and was reported by BizSense a day later, but the buyer would not disclose the sales price at the time and city records had not yet been updated to reflect the transfer.
Built between 1984 and 1987, the four buildings were previously owned by Chevy Chase Land Co. and total 158,383 square feet. The office properties are collectively assessed at $15.46 million.
The offices are about 90 percent leased and include tenants like Bon Secours Health Systems, HCA Virginia and IPC Technologies.
Grander partner Jeff Clary said renovations are planned for each building’s lobby, common areas and bathrooms. He said plans call for improving interior aesthetics, updating floor and wall finishes, upgraded art work, standardized signage and electronic building directories.
Colliers International brokers Christopher Wallace of Richmond, Chris Todd of Norfolk and Bill Kaye of Washington, D.C., handled the transaction. Colliers is relocating its office at 6606 W. Broad St. later this year to the entire second floor of 7200 Glen Forest Drive. About 45 employees will work out of the new 12,375-square-foot space.
Wallace added that the elevator and second floor restrooms at Colliers’ new office are being renovated.
In addition to its home base in Boston, Grander Capital keeps an office in Baltimore. The real estate and mortgage brokerage firm owns two other office properties in Richmond: 2810 N. Parham Road, which it bought in 2012, and 8002 Discovery Drive, which it bought last year.