The Bowers Building in Richmond, Virginia

Cushman & Wakefield Negotiates $6.2 Million Sale of Historic Portfolio in Downtown Richmond

by Channing Hamilton

RICHMOND, VA. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the sale of a two-property, adaptive reuse portfolio in Richmond’s historic Shockoe Slip submarket. The portfolio includes The Bowers Building and 1206 Shockoe Lane. 1206 Shockoe Lane LLC sold the buildings to Thalhimer Realty Partners for $6.2 million.

The Bowers Building was originally built in 1880 as the headquarters for a national coffee and tea manufacturer. In 1977, 1206 Shockoe Lane LLC redeveloped the property into 16 apartments over ground-floor commercial spaces. Directly behind the Bowers Building is 1206 Shockoe Lane, which was developed in 2001 and consists of 14 apartments and two commercial spaces.

Bo McKown of Cushman & Wakefield | Thalhimer’s Capital Markets Group completed the transaction. Jim Ashby, also with Thalhimer, provided market leasing expertise during the sale.

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