Rockford Capital Announces Acquisition of 4.83 Acre Land Parcel in Gateway Centre Office Campus

Press Release (ePRNews.com) - RICHMOND, Va. - May 23, 2017 - Rockford Capital Partners is pleased to announce the acquisition of a 4.83 acre Gateway Centre III parcel of land adjacent to the Gateway Centre II office building it already owns located at 100 Gateway Centre in the Southwest Quadrant of Richmond, Virginia. Rockford Capital acquired the property on behalf of its affiliated value-add investment vehicle, Rockford Real Estate Fund II. The seller, an affiliate of Brandywine Realty Trust, was represented by G. David Butchello of Cushman & Wakefield Thalhimer in the transaction.

“The acquisition of the Gateway Centre III parcel gives us additional flexibility. We are able to offer a best-in-market parking ratio of 8 spaces per thousand square feet in our Gateway Centre II building, or we can deliver a build-to-suit office building up to 69,200 square feet on the new parcel, ” according to Doug Motley, a principal in Rockford Capital.

To market the remaining space in Gateway Centre II and the build-to-suit
opportunity, Rockford Capital has selected JLL as the exclusive leasing agents.

The property is located along the interchange of Midlothian Turnpike (Route 60) and Powhite Parkway (Route 76) in Chesterfield County with immediate access to I-64, I-95, I-295, and Route 288. It is about 15 minutes to Downtown Richmond and 20 minutes to Richmond International Airport.

Rockford Capital is actively pursuing additional value-add investment opportunities throughout the Mid-Atlantic and Southeast regions.

About Rockford Capital Partners
Rockford Capital Partners is a private real estate firm specializing in the acquisition, repositioning, and management of commercial real estate assets throughout the eastern U.S. The team focuses on identifying fundamentally strong, yet undervalued, properties and unlocking value through a proven active management process and targeted capital investments. For further information, visit http://www.rockfordcp.com.

Source : Rockford Capital
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