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RICHMOND, VA-In a deal totaling nearly $25.8 million, Boulders IV and Boulders V have joined a new property portfolio. Representing a group of five Tenant-in-Common investors SugarOak Properties LLC purchased the two office structures that are located in the 220-acre Boulders Office Park, and account for 136,000 sf and 93,000 sf, respectively. The acquisition brings SugarOak Properties’ ownership in Boulders Office Park up to five, as the company acquired Boulders VI, VII, and VIII in June 2002 for $32.5 million.

Boulders IV is a six-story, 13-year-old building where space leases for about $18.25 per-sf. It is home to such tenants as CIGNA, Virginia Credit Union, Ryan Homes, and starting in 2004, a local office of CB Richard Ellis. Boulders V was developed in 1994 and office space in this four-story property also leases for $18.25 per-sf. Sentry Insurance makes its home at this locale. CB Richard Ellis represented the seller in the deal, while SugarOak Properties represented itself.

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