描述

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive representative for the Owner, is pleased to present for sale 9201 Forest Hill Avenue (the “Property”), a 50,237 square-foot office in Richmond’s Stony Point neighborhood. The Property is currently 100% leased to Universal Leaf Tobacco Company, Inc., a subsidiary of Universal Corporation (NYSE: UVV), #972 on the Fortune 1000. Universal Corporation boasts investment grade credit, is recognized as one of the world’s leading tobacco merchants, and has held its global headquarters at 9201 Forest Hill Avenue since 2009.

The immediate area possesses a robust, amenity-rich environment. The directly adjacent Stony Point Village, a prominent 125,000+ square-foot neighborhood center, features over 20 retailers including name-brand fitness and grocery dual anchors, national chain restaurants, and local shops.

Located a 15-minute drive from Richmond’s CBD, 9201 Forest Hill Avenue is a direct beneficiary of Richmond’s well-educated population, major medical influence, premier institutions of higher education, and eight Fortune 1000 companies – 9201 Forest Hill Avenue’s own Universal Corporation, Performance Food Group, CarMax, Altria Group, Dominion Energy, ARKO, Brink’s, and NewMarket.

9201 Forest Hill Avenue is situated within one of the strongest office submarkets in the country. The Stony Point/Huguenot submarket’s exceptional 5.9% vacancy rate, 6.2% 10-year average vacancy rate, and dearth of future supply point towards sustained occupancy strength, rental rate resilience, and a highly favorable risk-return profile. There is not a single contiguous vacancy in the submarket that is large enough to replicate Universal Corporation’s space requirements fulfilled by 9201 Forest Hill Avenue.

9201 Forest Hill Avenue is a compelling investment opportunity that offers entrenched, investment grade credit tenancy within a space-constrained submarket at a historically low basis.

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