Newmark Arranges $35 Million Sale of The Boulders Portfolio in Richmond, Virginia

October 30, 2025 9:00 AM

Newmark announces the Company has arranged the $35 million sale of The Boulders Portfolio, five Class A office buildings located in Richmond, Virginia. Newmark Executive Managing Directors Mark Williford and Will Bradley represented the seller in the transaction. The buyer of the 513,092-square-foot portfolio was an affiliate of Kawa Capital Management.

Located seven miles southwest of Richmond’s Central Business District within Chesterfield County – the top growth market in Virginia – the Boulders Portfolio (Boulders IV–VIII) offers scale, stability and multiple value-creation opportunities. The portfolio is 65% leased to a diverse and creditworthy tenant mix spanning healthcare, financial services, insurance and government sectors. Major tenants include HCA Healthcare and the Commonwealth of Virginia, which together occupy nearly 40% of the leased area and anchor the portfolio with long-term commitments.

“Richmond’s office fundamentals continue to outperform many peer markets, which has driven significant liquidity seeking yield and stability in high-growth, supply-constrained markets,” said Williford. “The Boulders Portfolio presented an attractive mix of cash flow stability from committed anchor tenancy and multiple clear paths to future value enhancement, coupled with the portfolio’s quality, beltway location and positioning in Virginia’s number one growth county.”

The Boulders Portfolio is situated at the intersection of Chippenham and Powhite Parkways, Richmond’s two primary interior beltways, offering seamless regional connectivity to I-95, I-195 and I-288. The campus benefits from proximity to Springline at District 60, a $1 billion mixed-use development featuring new apartments, retail, hotels and park amenities, reinforcing the area’s transformation into a live-work-play destination.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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