Investor purchases Lumber Liquidators HQ’s bldg. for $15.9M
JLL Capital Markets led sales efforts for the 52,876-square-foot headquarters facility in Richmond, Virginia
WASHINGTON, D.C. – Apr. 6, 2021 – JLL Capital Markets announced today that it has closed the $15.9 million sale of the 52,876-square-foot Lumber Liquidators Headquarters Building in Richmond, Virginia.
JLL represented the seller, Gumenick Properties, and procured the buyer, Waverton Associates.
In 2019, after several years of substantial growth, Lumber Liquidators relocated its international headquarters to the current site at 4901 Bakers Mill Ln., about two miles from downtown Richmond. The building was customized for Lumber Liquidators and offers an open floor plan with collaborative working environment for 200-plus employees. The property benefits from its location in Libbie Mill-Midtown, an 80-acre mixed-use development with top-notch amenities. The mixed-use development features residential, office and high-end retail space alongside acclaimed restaurants and community/public space.
JLL’s Capital Markets team representing the seller was led by Senior Director Jordan Lex, Executive Managing Director Charlie Polk, Managing Director Bill Moylan and Director Daniel Naughton.
“Lumber Liquidators HQ building offered investors an attractive yield from a high-quality tenant in Richmond’s premier mixed-use development,” Lex noted.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Gumenick Properties
Based in Henrico County, Virginia, Gumenick Properties is an award-winning real estate development and management company that owns and operates investment properties in Florida and Virginia. Founded in the late 1940s, the company engages in two primary lines of business – apartment and commercial space development and community operations, and homebuilding. Learn more about Gumenick Properties and Libbie Mill-Midtown at Gumenick.com and libbiemill.com.
About Waverton Development
Founded in 1996, Waverton Development develops and constructs high quality multi-family communities and develops exceptional neighborhoods, which create a unique sense of community. For more, please visit: wavertonassociates.com.