Thalhimer subsidiary purchases Dabney Center for $75M

Thalhimer Realty Partners, a Cushman & Wakefield | Thalhimer subsidiary, has purchased Dabney Center, a 56-acre industrial park in Henrico County, for $75.3 million, the company announced Monday.

The complex, which includes 14 buildings and encompasses more than 642,000 square feet, was purchased from Brandywine Realty Trust of Philadelphia. Atlantic Union Bank provided financing for the acquisition. Cushman & Wakefield | Thalhimer will lease and manage the property.

“This is the center of everything that’s Richmond,” said Evan Magrill, an executive vice president with Cushman & Wakefield | Thalhimer. “It’s where interstate[s] 64 and 95 cross. It’s where our Downtown Expressway … starts. … It really is the central point of all of Richmond.”

Zoned for light and general industrial use, Dabney Center is 99% leased. One 3,350-square-foot space remains available for lease at the center. The industrial park’s 40 tenants, which include Fireside Hearth and Home, Thermo Fisher Scientific and Ferguson HVAC Supply, have a variety of facilities there such as a building supply showroom, a distribution center and a bioanalytical lab.

 Thalhimer Realty Partners, which has its headquarters in Richmond, has a portfolio of commercial and multifamily assets throughout the Southeastern U.S. valued at more than $1 billion. It is also the sole principal developing Richmond’s $2.44 billion Diamond District, a mixed-use project being developed around CarMax Park, a new baseball stadium under construction for the Richmond Flying Squirrels.