Premier Purchases 142,000 sf Richmond Office Propery

On July 13, 2016 Premier acquired the 142,000 sf office complex at 2810 N. Parham Road in Richmond, Virginia.  This property is as notable for its excellent West End location as it is for its tenant roster, which includes GSA, Xerox, University of Virginia, Virginia Tech, United Lex, and Make a Wish, among others.  Premier will re-brand the property as Premier Tech Center and will be investing over $1,000,000 in improvements.  With this acquisition, Premier’s Richmond area presence grows to almost 500,000 sf.

Premier acquired Premier Tech Center from Grander Capital.  The acquisition loan was provided by Farm Bureau Life with mortgage brokerage services provided by Keith Wells at Northmarq.  Primary equity investors include Jonathan Cutler and 888 Realty Investors.  The Seller was represented by Will Bradley of CBRE.  Premier Management Services will provide property management and CBRE will provide the leasing.  The property was 86% occupied at the time of the acquisition.