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Commission Buys Office Building for $20.4 Million

  • State: Virginia
  • Topic: SOUTH
  • -  280 views
  • - Average time spent on item: 22 minutes
  • - Popular with: Insurance
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The Virginia Workers’ Compensation Commission is paying $20.4 million to buy a downtown Richmond office building that it has been leasing since last year.

The commission bought the building at 333 E. Franklin St. from Hourigan Development, which purchased it for $13 million last year, Richmond BizSense reported. The sale closed on June 4.

Hourigan renovated the 125,000-square-foot property. The state agency, which has about 300 employees, moved into the building in December.

The building was previously home to Media General, a media company that was acquired last year by Nexstar Broadcasting Group.

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