5600 Cox Street. Picture courtesy of CommercialEdge
Franklin Avenue Properties Corp. has leased 100,000 sq. ft of workplace house to the Commonwealth of Virginia’s Division of Basic Companies. The establishment will likely be a tenant at Innsbrook Company Heart in Glen Allen, Va. The settlement carries a time period of 10.5 years and is anticipated to start in December 2023.
Innsbrook Company Heart consists of three buildings totaling roughly 298,000 sq. ft. The property got here on-line in 1999 on a 26-acre website and have been acquired by FSP in 2003, CommercialEdge info reveals. The property’s tenant roster contains firms working in sectors resembling transportation, water remedy {and professional} improvement, in keeping with the identical information supplier.
Positioned at 5600, 5620 and 5640 Cox Street, off Interstate 295, the buildings are some 18 miles from downtown Richmond, Va. Just lately, Commonwealth Business Companions has been chosen to offer leasing companies for a 726,000-square-foot portfolio spanning throughout 11 buildings within the area, seven of which being additionally located alongside Cox Street.
FSP at present owns greater than 6.4 million sq. ft of workplace house throughout the U.S., in keeping with CommercialEdge information. The REIT has lately signed a 5-year lease extension with Kaiser Basis Well being Plan for 121,000 sq. ft at Greenwood Plaza in Englewood, Colo. The earlier contract, signed in 2013, was to run out in Could 2024, the identical information supplier reveals. Different tenants on the 212,143-square-foot constructing embrace AT&T and Shiny Horizons.
