Plans call for redevelopment of the property into a multifamily community
Cushman & Wakefield | Thalhimer is pleased to announce the sale of the Fredericksburg Industrial Park portfolio, consisting of a total of 495,830 square feet in four large buildings on two properties at 11800 – 11900 Main Street and10857 Houser Drive in Spotsylvania County (Fredericksburg), Virginia.
Monument Development Fifteen, LLC purchased the industrial property portfolio from Acorn Capital Company LC for $14,000,000 as an investment. Monument Cos. plans to redevelop the property into an apartment community comprised of up to 525 one- and two-bedroom apartments as well as a minimum of 14,000 square feet of commercial space in the industrial complex, also known as the Bowman Center, off State Route 2 and U.S. 17 in Spotsylvania, just outside of Fredericksburg.
Virgil G. Nelson, CCIM of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller.
About Cushman & Wakefield | Thalhimer
Thalhimer was founded in 1913 and currently has offices in Richmond, Newport News, Virginia Beach, Fredericksburg, Roanoke, Charlottesville, and Lynchburg, VA; and Charleston, Columbia, and Greenville, SC. The company has over 100 broker professionals and employs over 425 associates. Thalhimer represents, on behalf of its clients, a property portfolio of over 57 million leasable square feet, and management of over 31 million square feet of commercial property, and over 9,125 multifamily units. In 2019, Thalhimer completed over 2,000 transactions with a transactional volume more than $1.5 billion. Thalhimer is the region’s leading provider of comprehensive commercial real estate services. The firm offers comprehensive commercial real estate services including corporate services, investment sales, tenant representation, project management, asset management, and the sale and leasing of office, industrial and retail properties.
To learn more, visit www.thalhimer.com or follow @Thalhimer on Twitter.
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About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
