RICHMOND, VA – Office Properties Income Trust has completed the sale of a property in Richmond, VA for a sale price of $130 million, excluding closing costs.
Office Properties Income Trust president and COO, Chris Bilotto states, "We are pleased with this opportunistic sale at what we believe to be a price reflective of a long-term stabilized property despite the tenant's lease expiring in 2024."
"The $418 per square foot sale is on par with the higher sales comps realized in the market over the past few years," Bilotto adds.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
