Area class A rents average $18 per sf, making the Charter lease valued at an estimated $18 million, area brokers tell GlobeSt.com on condition of anonymity.
Broker Charlie Polk of Advantis Real Estate Services Co. found the space for Charter. The lease is one of the largest in Richmond this year.
"The favorable rental terms we were able to negotiate, combined with its geographic location and accessibility to the interstate, made Colonial Place the perfect fit" for the tenant, Polk tells GlobeSt.com. One Colonial Place, a limited liability company, owns the building.
Charter One Mortgage Corp. has 30 offices in the Midwest and the East with 230,000 customers.
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