A local developer has pulled off a multimillion-dollar flip on a downtown office building in barely a year’s time.
Hourigan Development last week sold the former Media General building at 333 E. Franklin St. to the Virginia Workers’ Compensation Commission for $20.4 million.
Hourigan paid $13 million for the 125,000-square-foot property last summer, then promptly renovated and leased it to the commission. The nearly 300-person state agency moved into the space December 2017.
The sale closed June 4, according to city records.
Hourigan CEO Mark Hourigan did not return a call seeking comment Monday.
Prior to the state agency moving in, the building housed the headquarters for TV station conglomerate Media General before its merger with Nexstar Media Group.