TRP Acquires 642,384 Square Foot Portfolio – Dabney Center in Richmond, VA for $75.30 Million

RICHMOND, VIRGINIA - December 20, 2024: Thalhimer Realty Partners (TRP) is pleased to announce its acquisition of the Dabney Center, a premier portfolio of 14 flex/industrial buildings located in the heart of Richmond, Virginia. The portfolio comprises 642,384 square feet of highly functional, versatile space designed to meet the needs of modern businesses.

Strategically positioned throughout 56 acres and with immediate access to Interstates 195, 95, and 64, Dabney Center boasts an unparalleled location within the Richmond metro area. This prime accessibility has made it a sought-after destination for businesses and a cornerstone of Henrico County's commercial landscape. Currently, the property is 99% leased, with just one 3,350-square-foot space available for new tenants.

Cushman & Wakefield | Thalhimer has been appointed to handle the property's leasing and management, and Atlantic Union Bank provided acquisition financing.

"TRP is thrilled to acquire what we believe to be an exceptional asset," said Evan Magrill, Executive Vice President at Thalhimer. "Dabney Center's prime location and strong performance history position it as a valuable addition to our portfolio, and we are confident it will continue to excel in the years ahead."

Matt Raggi, Principal at TRP, added, "The buildings have been well maintained, and the park is home to some of Henrico County's most respected companies, which further underscores its appeal. Additionally, the portfolio is located in a thriving corridor of the County, and we were particularly attracted to its size. We are excited to become the new long-term owners and look forward to contributing to its continued success."

The 14-building portfolio consists of a secure 502 space parking lot and the following industrial buildings:

• Brittons Hill, 2511-23 Brittons Hill Road, 132,548 square feet
• Dabney A-1, 2240 Dabney Road, 15,389 square feet
• Dabney A-2, 2244 Dabney Road, a33,050 square feet
• Dabney I, 2256 Dabney Road, 33,413 square feet
• Dabney, II, 2251 Dabney Road, 42,000 square feet
• Dabney III, 2112-2124 Tomlynn Street, 23,850 square feet
• Dabney IV, 2161-2179 Tomlynn Street, 41,550 square feet
• Dabney V, 2212-2224 Tomlynn Street, 45,353 square feet
• Dabney VI, 2277 Dabney Road, 50,400 square feet
• Dabney VII, 2246 Dabney Road, 33,271 square feet
• Dabney VIII, 2130-2146 Tomlynn Street, 29,700 square feet
• Dabney IX, 2248 Dabney Road, 30,184 square feet
• Dabney X, 2201-2245 Tomlynn Street, 86,426 square feet
• Dabney XI, 2221-2245 Dabney Road, 45,250 square feet

For leasing inquiries, please contact Cushman & Wakefield | Thalhimer.

MEDIA INQUIRIES:
Evan Magrill
Matt Raggi
Principal, Thalhimer Realty Partners
[email protected]
[email protected]

FLEX SPACE LEASING INQUIRIES:
Evan Magrill
804.697.3435

ABOUT THALHIMER REALTY PARTNERS
Thalhimer Realty Partners is a private real estate investment firm with a portfolio of commercial and multifamily assets valued at greater than $1 billion. Thalhimer Realty Partners seeks to acquire, position and operate properties with the goal of maximizing long term cash flow and value for its investment partners. The Company is headquartered in Richmond, VA, with assets located throughout the Southeast Region. www.thalhimerrealtypartners.com