Newmark Arranges $42.3 Million Sale of Stony Point Portfolio in Richmond, Virginia

February 19, 2026 9:00 AM

Newmark announces the Company has arranged the $42.3 million sale of the Stony Point Portfolio, a best-in-class, three-building office portfolio totaling 357,251 square feet located in Richmond, Virginia. Executive Managing Directors Mark Williford and Will Bradley, along with Associate Director Evan Wells, represented seller Highwoods Properties, in collaboration with Vice Chairmen Jay O’Meara and Justin Parsonnet and Senior Managing Director Ryan Rheethof. The portfolio was acquired by OA Development.

The Stony Point Portfolio — comprising 8730, 9020 and 9030 Stony Point Parkway — is 92% leased to a diversified tenant roster spanning medical, technology, financial services and logistics users. The Portfolio features a weighted average lease term (WALT) of 3.6 years and an impressive weighted average tenant tenure of 13.8 years, underscoring the Portfolio’s in-place stability and long-term value.

“This transaction highlights the ongoing demand for high-quality, well-leased office assets in growth markets with limited supply,” said Williford . “Stony Point’s durable tenancy, performance and location make it an exceptional long-term investment opportunity.”

Institutionally maintained, the Portfolio is strategically positioned adjacent to Richmond’s beltway, offering seamless access to the broader MSA. Richmond ranks as the #3 metro for job growth between 2023 and 2024 and the #2 U.S. market for millennial population growth. With a metropolitan population of over 1.4 million, Richmond continues to attract substantial corporate investment from global leaders such as Google, Eli Lilly, The LEGO Group and CoStar Group, further strengthening its appeal as a business hub and positioning the Stony Point assets at the center of long-term regional momentum.

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 September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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