Washington DC + DC Metro + Office | July 13, 2022

Northridge Capital as acquired the Gateway Plaza office building in Richmond, VA.

Northridge Capital Acquires Gateway Plaza Office Tower in Richmond

JLL has closed the sale of Gateway Plaza, a 328,581-square-foot office in Richmond, VA.

Chris Lingerfelt, Daniel Flynn, Ryan Clutter and Andrew Weir of JLL represented the seller, an affiliate of LXP Industrial Trust. Northridge Capital, LLC, acquired the asset. JLL has been retained for leasing and property management.

The 2015-constructed, 18-story Gateway Plaza is 97.6% leased and is anchored by McGuireWoods, an international law firm.

Located in Richmond’s CBD at 800 East Canal St., the office building offers access to the live-work-play amenities offered by the River Arts District and the greater CBD. With just under 180,000 employees within a five-mile radius, the property benefits from the area’s highly educated work force and local universities.

According to JLL, Gateway Plaza further benefits from the high barriers of entry due to limited availability of developable land sites, which limits new, large block availability. There are currently no availabilities within Richmond’s CBD larger than 150,000 square feet.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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