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CHESTERFIELD COUNTY, VA-Three buildings accounting for about 270,000 sf of space in the 11-structure, Boulders Office Park have sold for $32.5 million to SugarOak Properties LLC and a group of five investors. The seller–Principal Financial Group of Des Moines, IA, which developed the 800,000-sf park in 1984– retains ownership of the park’s remaining eight buildings.

Boulders Park manager CB Richard Ellis represented both SugarOak and Principal in the negotiations, and is marketing the remainder of the business park at $109 million.

Boulders VI, VII and VIII are Class A office structures and offer 60,000 sf, 85,000 sf, and 121,000 sf of space, respectively. Rents per-sf start at around $18. Tenants among the three fully-leased buildings include HCA Inc., US Lec Corp., and Swedish Match North America, which relocated to a 27,273- square-foot space in Boulders VII in 2000. SugarOak et al are expected to hold on to the properties for the next several years.

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