Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RICHMOND, VA-Ground preparation has begun for Richmond’s latest office development, an approximate 220,000-sf structure that reportedly will be developed for $60 million. The developer, Armada Hoffler, a Virginia Beach, VA-based firm, acquired the plot of land in Downtown Richmond for $3 million recently–a transaction that was brokered by Jeffrey Cooke and Suzanne White of Thalhimer/Cushman & Wakefield Alliance. Armada Hoffler, which did not return a call to GlobeSt.com in time for publication, purchased the land from James Center Development Co.

Williams Mullen will occupy the majority of the building, which will be called Williams Mullen Center. White tells GlobeSt.com that approximately 40,000 sf will be available for lease when the building delivers in the first half of 2010. Besides the approximate 20,000-sf per floor, the building will also offer ground floor retail, she says.

Located corner of 10th and Canal streets, the Williams Mullen Center is the latest class A building to begin development in Richmond, White says. By the time it delivers, the current economic headwinds will be past and the tenant demand will be strong for space, she adds. However even if the building were delivering today it would likely not be severely impacted by the current market. “We are seeing a lot of fluctuation in the market because of the crisis, but Downtown has stayed relatively strong,” she says.

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.