Real Property For Sale - Richmond

Virginia is offering for sale a 134,106-square-foot Class A/B office and laboratory facility in Richmond's Virginia Biotechnology Research Park, with offers due July 6, 2027.

The property, Bio+ Tech Two, is located at 700 North 5th Street on 2.353 acres in the Research Park (RP zoning), adjacent to VCU Medical Center and within walking distance of downtown Richmond and the State Capitol. The facility comprises 60% laboratory space and 40% general office space across a three-story west wing with basement and a two-story east wing. Construction dates to 1998 and the property is maintained in good to excellent condition. Building systems include five Trane boilers, three chillers, a 4,000-amp 480-volt electrical system, and three elevators (two passenger, one freight). On-site parking includes 95 secured spaces.

The Virginia Biotechnology Research Park encompasses 34 acres with nine buildings housing multiple life sciences companies and institutions, supporting laboratory, medical, and office uses. Richmond's demographics show a city population of 237,260 (up 18.1% since 2000), median household income of $64,587 (up 27.7%), and a daytime population increase from commuters exceeding 70%.

JLL is marketing the property on behalf of the owner. Senior Vice President John Simmons (john.simmons@jll.com, 804-396-0645) and Transaction Manager Ian Woolwine (804-380-4054) are the contacts for inquiries. The listing document is available as an attachment.