Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.