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CBRE|Richmond is pleased to announce the sale of 25.1 acres on Wilkes Ridge Parkway in Goochland County, Va to Sheltering Arms Physical Rehabilitation Centers for $7,906,500. The sellers were North Gayton Company LLP, PWC Properties, LLC, and Riverstone Properties. Trib Sutton and Malcolm Randolph represented Sheltering Arms in the transaction.
The site, located within The Notch at West Creek and adjacent to the West Creek Medical Center, will be used for the construction of a new state-of-the-science rehabilitation facility that will be operated by the Sheltering Arms Hospital and VCU Health System joint venture entity. The site is proximate to other developments, including the adjacent West Creek Medical Center project and is accessible from all points of the Central Virginia region.
“The purchase of this property allows us to move forward with our plans to advance the convergence of rehabilitative and regenerative medicine consistent with our commitment to provide top-notch innovative care for our patients in a setting that will have easy accessibility from the major highways, ample parking, and green space that is conducive to healing,” said Mary Zweifel, CEO of Sheltering Arms.
The plan is to open the doors of the new 114-bed, 200,000 square foot hospital in Spring 2020.
About Sheltering Arms
Sheltering Arms helps patients find the Power to Overcome the obstacles of illness and injury with a complete range of physical rehabilitation and wellness services. To learn more about Sheltering Arms’ two hospitals (in Mechanicsville and Midlothian) and ten outpatient clinics, visit ShelteringArms.com, call 1-877-56-REHAB, or connect with Sheltering Arms on Facebook (www.facebook.com/shelteringarms) or Twitter (www.twitter.com/SheltArmsRehab).
About CBRE – Richmond
CBRE|Richmond is a CBRE, Inc. affiliate office serving the Central Virginia region. The firm assists real estate owners, investors and occupiers by offering strategic advice and execution for property leasing and sales; property, facilities and project management; corporate services; debt and equity financing; investment management; valuation and appraisal; research and investment strategy; and consulting. In 2016, CBRE|Richmond completed 448 lease transactions encompassing 3.9 million square feet and totaling $240 million in value. The Richmond office also completed 90 sales transactions in 2016 with a total value of $459 million.
About CBRE in the Mid-South Region
CBRE is the only global real estate services firm with offices in Norfolk, Newport News, Richmond, Charlottesville, and Fredericksburg, VA, and Raleigh and Greensboro, NC. These offices are collectively referred to as the Mid-South region. The CBRE Mid-South offices (excluding Northern Virginia and Charlotte, NC offices) completed $3.2 billion of sales and leasing transactions in 2016.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue).The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.us.
For further information:
Stephanie Sulmer Vera Magdeeva
Director of Marketing & Public Relations PR & Communications Specialist
Sheltering Arms Physical Rehabilitation Centers CBRE|Richmond