An industrial/flex building spanning 20,400 square feet located at 22 Perchwood Drive in Fredericksburg, Virginia, was sold for $2,770,000. The transaction involved the acquisition of the property by Innovation Investments, LLC from Radley Management, LLC. The asset, situated on 2.78 acres, was purchased with the intention of establishing a new collision center.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $2,770,000
• Address: 22 Perchwood Drive
• Market: Fredericksburg, VA
• Buyer: Innovation Investments, LLC
• Seller: Radley Management, LLC
• Broker: Virgil G. Nelson - Cushman & Wakefield
• SF: 20,400
• PPSF: $136

The transaction was facilitated by Virgil G. Nelson from Cushman & Wakefield, who represented the parties involved in the sale. Innovation Investments, LLC, the buyer, made a strategic move in acquiring the industrial property located in Fredericksburg, Virginia, for the purpose of transforming it into a collision center. Radley Management, LLC, the seller, successfully closed the deal, adding to the real estate market activity in the region.