Chester, Virginia

The Opportunity

Commonwealth Commercial Partners was hired to market and sell the 8,939± sf medical office building located at 12901 Briggs Road. The medical office building was 72% occupied upon listing the sale, and of the 3.75± acre property, 2.4± acres were undeveloped and zoned for office/medical office use.

The Hurdles

• The existing tenant had 3 years remaining on their lease
• 2,100± sf vacant on the second floor
• 2.4± acres of the property were undeveloped and zoned for office/medical use
• The building did not have exceptional road frontage
• The Seller had firm pricing expectations for the sale

The Strategy and Results

• The sale was directly marketed by physical mailers, in-person and over the phone cold calls, and e-blasts to nearby building owners; medical practice owners and tenants; local, regional, and out of town investors/developers; and active investment sale brokers in the market
• We paired the property with a buyer who is holding the medical office as an investment and is developing a medical office building for their practice’s use on the available 2.4± acres of the property
• We achieved the Seller’s expectations with the timing and sales price of the transaction