Real Estate Journal — January 15 - 28, 2016 — 5A
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M id A tlantic
FCP & Kane complete 2.5 acre acquisition
951,897 s/f property for $147.5 million in Virginia Hertz Investment Group acquires Riverfront Plaza R
ichmond, VA — Hertz Investment Group announced the acquisition of Riverfront Plaza, a two-tower 22-story class A office complex located next to the picturesque James River in downtown Richmond, VA. Hertz purchased the 951,897 s/f property for $147.5 million. Riverfront Plaza is currently 72-percent leased with a tenant mix that includes law, account- ing and banking firms. The purchase is the first for Hertz in the Richmond Central Business District. The company established a presence in the market with its 2012 purchase of 400,000 s/f of suburban as- sets in Chesterfield County. Riverfront Plaza, located in the 900 block of E. Byrd St., sits adjacent to the Federal Reserve Bank of Richmond and just four blocks from the Supreme Court of Appeals and the U.S. Court of Appeals. The landmark property was built in 1990 and underwent a renovation in 2014. Riverfront Plaza, one of just two institu- tional office buildings along the James River, includes a landscaped open-air pedestrian mall as well as a five-story 2,172-space underground park- ing garage. n Pasadena, MD — The Hampshire Companies an- nounced the sale of a 319,519 s/f retail center known as the Pasadena Crossroads, located at 8070 Governor Ritchie Hwy. in Pasadena, MD, to The Sterling Organization. The fully-leased, highly vis- ible retail center is anchored by Shoppers Food Warehouse, Kmart and LA Fitness. The 28-acre property was renovated in 2008 and is in close proximity to I-97 as well as the Baltimore Central Business District and the Bal- timore-Washington Interna- tional Airport. The Pasadena Crossroads boasts prominent frontage on Ritchie Highway and Jumper’s Hole Road and is a community fixture in a
Dillon Supply rendering
Raleigh, NC — Fed- eral Capital Partners (FCP) , with joint venture partner and developer Kane Realty Corporation (Kane) , has completed the acquisition of the 2.5 acre Dillon Supply site in the Warehouse District of downtown Raleigh. Along with Union Station, the mixed-use project will transform a district benefiting from growing popu- larity and a retail resurgence but lacking the residential and office density needed for 24/7 vibrancy. Bounded by S. West St., W. Martin St., S. Harrington St. and W. Hargett St., The Dillon redevelopment, when complete, will include a 210,000 s/f , 17-story class A office tower, 40,000 s/f of retail and two six-story, apartment buildings comprising 261 units “The Dillon development will be a catalyst for the continued
evolution and growth of Ra- leigh’s dynamic warehouse dis- trict,” said FCP vice president, Bryan Kane . “We are excited to be moving forward on another investment with Kane Realty, who continues to demonstrate a passion for Raleigh’s future and the expertise to deliver the right product.” T.J. Barringer , develop- ment director at Kane Realty added, “The design of The Dil- lon reflects the extraordinary talents of the Duda Paine, J. Davis and Clearscape teams, and will result in a landmark building for all of Raleigh. This building will be highly attrac- tive to creative class talent, who will find this the ideal location to work, live and play.” FCP and Kane extend their appreciation to Justin Good and Allan Lynch of HFF for their representation. n with Emory Hill for more than ten years. Prior to that he was with High Construction of Lan- caster, PA, where he spent six years leading a project manage- ment group. Prior to working at HCI, Mike was with Emory Hill for eleven years as a construc- tion manager, responsible for approximately three million square feet of commercial, resi- dential and industrial construc- tion in Delaware. The projects Eshleman has managed for Emory Hill have included the 648-unit Chris- tiana Meadows Apartment complex; the Omega Medical Center Condominiums; two buildings at the Centerpoint Industrial complex; 30,000 s/f of flex space at the White Clay Center; and the ten-building Corporate Commons office park. n
Eshleman rejoins Emory Hill & Company as project manager
Riverfront Plaza
The Hampshire Companies unloads fully- leased 319,519 s/f retail center in Maryland
NEW CASTLE, DE – Em- ory Hill & Company an- nounced that Mike Eshleman
has rejoined the firm as a project man- ager. Eshleman is returning t o E m o r y H i l l a f t e r three years at Warfel Con-
Pasadena Crossroads
Mike Eshleman
market with strong overall demographics. “The sale of Pasadena Cross- roads was driven by extremely competitive market conditions and recent favorable sales,” said Igor Derbaremdiker, Transactions Manager at The Hampshire Companies. “Ex- ecuting our proven investment strategy coupled with the center’s strong performance,
diversified tenant mix, and macroeconomic conditions al- lowed us to identify an oppor- tunity to maximize economic returns for our investors.” American East Real Es- tate Company LLC, How- ard Stotsky Real Estate Investments and KLNB Retail represented The Hampshire Companies in the transaction. n
struction Company as their op- erations manager responsible for coordinating field opera- tions. This included reviewing schedules and cost projec- tions with superintendents and project managers as well as scheduling field personnel and acting as liaison between office and field staff. Mike has more than 40 years of construction experience and was previously
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