Out-of-town investor mulls plans for Gateway Centre site

gateway-center-ii

Rockford bought the 75,000-square-foot Gateway Centre II building in 2015 for $4.1 million. (Rockford Capital)

A Delaware-based real estate firm is weighing its options for office property it recently acquired in Chesterfield County.

Rockford Capital Partners earlier this year purchased a nearly 5-acre parcel in the 80-acre Gateway Centre office park at 134 Gateway Centre Parkway for $1.1 million, principal Doug Motley confirmed.

The firm purchased the property – Gateway Centre III – from an affiliate of Pennsylvania-based Brandywine Realty Trust on Feb. 16, according to Chesterfield County records. G. David Butchello, a broker with Cushman & Wakefield | Thalhimer, represented Brandywine Realty Trust during the transaction.

Zoned commercial, the property most recently was assessed at $289,800, county records show.

Motley said the firm is mulling plans for the site, which could include construction of a 70,000-square-foot office building.

“We’re bullish on the Richmond market,” Motley said. “Given the momentum we’re seeing in the area, we feel our site could be a good build-to-suit option for regional and national companies looking to expand in the area.”

Motley said the site also could serve as additional parking for its Gateway Centre II property, adjacent to the newly acquired parcel.

Rockford purchased the three-story, 75,000-square-foot Gateway Centre II at 100 Gateway Centre Parkway in June 2015 for $4.1 million, according to county records.

That building is home to several offices, including the Results Companies Call Center and engineering firm A. Morton Thomas & Associates.

In April, Rockford leased out 9,200 square feet in the building to Encompass Home Health and Encompass Hospice of Virginia.

Brokers Gareth Jones, Adam Lawson and Jimmy Appich of JLL represented Rockford in that deal.

JLL will oversee marketing for build-to-suit opportunities at Gateway Centre III, Motley said.

He added that the firm is eyeing other investment opportunities in the region, but would not disclose where it’s looking to deal.

“We see great promise in Richmond, which is why we are actively searching for investment opportunities throughout the area,” Motley said. “There is solid job growth occurring in the area that makes it attractive to invest.”

gateway-center-ii

Rockford bought the 75,000-square-foot Gateway Centre II building in 2015 for $4.1 million. (Rockford Capital)

A Delaware-based real estate firm is weighing its options for office property it recently acquired in Chesterfield County.

Rockford Capital Partners earlier this year purchased a nearly 5-acre parcel in the 80-acre Gateway Centre office park at 134 Gateway Centre Parkway for $1.1 million, principal Doug Motley confirmed.

The firm purchased the property – Gateway Centre III – from an affiliate of Pennsylvania-based Brandywine Realty Trust on Feb. 16, according to Chesterfield County records. G. David Butchello, a broker with Cushman & Wakefield | Thalhimer, represented Brandywine Realty Trust during the transaction.

Zoned commercial, the property most recently was assessed at $289,800, county records show.

Motley said the firm is mulling plans for the site, which could include construction of a 70,000-square-foot office building.

“We’re bullish on the Richmond market,” Motley said. “Given the momentum we’re seeing in the area, we feel our site could be a good build-to-suit option for regional and national companies looking to expand in the area.”

Motley said the site also could serve as additional parking for its Gateway Centre II property, adjacent to the newly acquired parcel.

Rockford purchased the three-story, 75,000-square-foot Gateway Centre II at 100 Gateway Centre Parkway in June 2015 for $4.1 million, according to county records.

That building is home to several offices, including the Results Companies Call Center and engineering firm A. Morton Thomas & Associates.

In April, Rockford leased out 9,200 square feet in the building to Encompass Home Health and Encompass Hospice of Virginia.

Brokers Gareth Jones, Adam Lawson and Jimmy Appich of JLL represented Rockford in that deal.

JLL will oversee marketing for build-to-suit opportunities at Gateway Centre III, Motley said.

He added that the firm is eyeing other investment opportunities in the region, but would not disclose where it’s looking to deal.

“We see great promise in Richmond, which is why we are actively searching for investment opportunities throughout the area,” Motley said. “There is solid job growth occurring in the area that makes it attractive to invest.”

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Al Meyer
Al Meyer
5 years ago

Dear Mr ONeal – Have enjoyed your posts for some time now. The area of Chesterfield County westward along Midlothian Turnpike corridor beginning @ Chippenham Parkway is showing incredibly steady new and revitalized growth. Folks are finally realizing that Rt 76, the Powhite Parkway exit @ Midlothian Turnpike is not only The Gateway to Chesterfield’s business & commercial areas but locating here makes it a convenient twenty minutes commute to all parts of the Metro area. Sometimes it takes an out of state firm to see the big Picture! As a smaller investor / real estate property manager @ Twin… Read more »