Newmark Facilitates $44.5 Million Sale of Cox Road Office Portfolio in Richmond, VA

February 17, 2026 9:00 AM

Newmark announces it has arranged the $44.5 million sale of the Cox Road Office Portfolio, a best-in-class, three-building, 300,364-square-foot headquarters anchored office portfolio located at 5600, 5620 and 5640 Cox Road in Richmond, Virginia’s highly sought-after Innsbrook submarket. Executive Managing Directors Will Bradley and Mark Williford represented seller Onward Investors in the transaction.

Cox Road Portfolio is 100% leased to a strong roster of long-term tenants including the Commonwealth of Virginia for two agency headquarters, ChemTreat’s global headquarters and Black Knight, a major East Coast data center operator. Anchored by 7.7 years of weighted average lease term (WALT), the portfolio offers durable cash flow and long-term income stability in one of the Mid-Atlantic’s strongest-performing office submarkets.

“This transaction underscores the strength of investment activity in the region and reinforces capital’s continued interest in well-located, institutionally upgraded assets with highly committed tenancy,” said Bradley. “The Cox Road Office Portfolio stood out for its stability, tenant quality and positioning within one of Richmond’s most amenitized and resilient office corridors.”

Strategically positioned at the crossroads of I-295, I-64 and US-250 (W. Broad Street) in the Innsbrook submarket, the property offers unmatched regional accessibility and proximity to Richmond’s premier dining, hospitality and residential corridors.

According to Newmark Research, the Richmond office market has recorded more than 6 million square feet of leasing activity over the past two years, underscoring sustained tenant demand across the region. Within the Innsbrook submarket, approximately 600,000 square feet of Class A leasing activity has driven vacancy down to 7.2%, reinforcing Innsbrook’s position as one of Richmond’s strongest-performing office corridors.

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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