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RICHMOND, VA-Forest Medical Plaza, a new building under development by Henrico Doctors’ Hospital and Trammell Crow Co. on the Forest Campus of Henrico Doctors’ Hospital, has inked another prelease for the four-story building scheduled to deliver in April 2009. Virginia Cardiovascular Specialists, a cardiovascular specialty group in central Virginia, just signed a lease for more than 17,000 sf on the first floor of the building.

A 20,000-sf ambulatory surgery center with four operating rooms has also inked space in the 95,000-sf medical office building, bringing it to more than 40% occupancy. Asking rates in the building range between $15 per sf to $19 per sf, triple net, Jennifer Dresback, a developer with TCC, tells GlobeSt.com, based on lease terms and TI dollars.

Lewis Stoneburner Jr. and Walton Makepeace with CB Richard Ellis’ Richmond, VA.-based office are handling leasing for the building. By the time the building delivers next Spring, Makepeace tells GlobeSt.com, it most likely will be fully or close to being fully leased. “This is the only class A medical office in Richmond,” he says.

There are also financial incentives for prospective tenants to sign, Dresback adds. “Tenants have the opportunity to buy some of the equity in the building.” The two tenants have not yet decided if they want to move forward with that option, she explains. However one tenant currently negotiating for space is very interested in the possibility. Dresback says there is another 15% of available space under negotiation.

Trammell Crow is developing the $21.5 million building on behalf of Partners Health Trust, a state retirement system advised by Morgan Stanley Real Estate, which is wholly-owned by Trammell Crow. The architect for the project is Baskervill, of Richmond, and the general contractor is W.M. Jordan Co., based in Newport News, VA.

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