MCRES Named Exclusive Leasing Broker for 120,000 Square Foot Building in Albemarle Business Campus in Charlottesville, VA
Asset designed to support biotechnology, medical office, commercial office, and lab development uses
MacKenzie Commercial Real Estate Services has been named the exclusive leasing broker of record for a 120,000 square foot build-to-suit opportunity located within the Albemarle Business Campus in Charlottesville, Virginia. The speculative building is part of the five-building walkable mixed-use development containing commercial office, flex/office, retail, hospitality, restaurant, and self-storage being developed by LandStriker Real Estate Development. MacKenzie’s Sam Orr, Executive Vice President, and Brian Thomas, Real Estate Advisor are handling the marketing and leasing assignment.
The shovel-ready site situated just off 5th Street at 500 Old Lynchburg Road and designed by BRW Architects, has been configured to support a range of biotechnology, medical office, commercial office, and lab development uses.
Albemarle Business Campus has been designed to support approximately 70,000 square feet of commercial office space, 100,000 square feet of flex and storage space, 10,000 square feet of retail space, a hospitality component and 128 multifamily units in addition to the 120,000 square feet of biotech/medical space.
Situated off Interstate 64, the business community is served by a variety of amenities including 5th Street Station and is adjacent to several residential neighborhoods. Albemarle Business Campus also includes a system of walking trails and dog parks. Downtown Charlottesville can be accessed in two miles, the University of Virginia is less than 10 miles away, and with its position in the heart of Central Virginia, the site is located only 90 miles from Washington, DC and 60 miles from downtown Richmond
“This represents a prime opportunity for a single or multiple end-users to take occupancy of a state-of-the art building and leverage the extremely fertile life sciences labor market that exists in the greater Charlottesville area,” explained MacKenzie’s Orr. “Direct proximity to UVA Health University Medical Center and Sentara Martha Jefferson Hospital provide tremendous synergy for medical and healthcare-related companies as well.
“The region continues to attract new businesses and residents drawn to the high-quality and lower cost of living as compared by major metropolitan areas, the slower pace, and the historic charm of downtown Charlottesville. Albemarle Business Campus will be an all-encompassing community packed with walkable amenities serving its dedicated audiences,” he added.
With nearly 12,000 high technology jobs spread across nearly 650 companies in the greater Charlottesville area, the region contains among the largest concentration of groups involved in the technology sector in Virginia. Charlottesville is approximately 60 miles from Richmond and 90 miles from Washington, D.C., and served by a regional airport and Amtrak service. Charlottesville has been rated the fifth happiest city in the United States, one of the top small cities for foodies, having the second-best City Market, and the fifth “best place to live” in the country. It is served by the University of Virginia and its major academic medical center.
Approximately 10 million square feet of commercial office space currently exists in the greater Charlottesville area, according to research generated from CoStar Group, with a current 7.6 percent vacancy rate.
The MacKenzie Companies operates five full-service divisions addressing all real estate asset classes including MacKenzie Commercial Real Estate Services, MacKenzie Management, MacKenzie Capital, MacKenzie Contracting and MacKenzie Investment Group. For additional information, visit Virginia | MacKenzie Commercial Real Estate
