Westchester Office

Location: Midlothian, VA
Type: Office
Price: $7,200,000

SMC has provided a $7,200,000 ten-year fixed rate mortgage for the refinance of Westchester I Office, a 57,134 SF office building located in Midlothian, VA, a suburb of Richmond, VA. The Property was built in 2008 – 2009 and is currently 81% occupied by eight tenants. The Property is situated 15- miles west of downtown Richmond and conveniently located a short distance from the intersection of Midlothian Turnpike and the US-288 beltway, in a very high growth area of Chesterfield County. The area immediately surrounding the Property consists of a mix of office buildings, retail centers, the Westchester Medical Park and residential neighborhoods. The 334-acre parcel of land adjacent to the Subject is being developed into a mixed use community containing 2,000 single-family homes, townhomes and apartments and up to 200,000 square feet of retail, including a 70,000-square-foot grocery store and a hotel.